📈 Bitcoin Surpasses $90,000 Mark, Bull Market Returns Swiftly
Trump @realDonaldTrump backs down, Musk @elonmusk concedes, and the "loyalist version #Strategy" is about to be born.
"Bull market returns swiftly!"
Last night, Bitcoin surged past the $90,000 mark, currently reported at $92,925, and reached a high of $94,000 today, marking a 24-hour increase of 6.37%, the highest since March 3. Bitcoin has also surpassed silver, ranking seventh in global asset market capitalization. Other altcoins have also started to rise. According to Quantify Crypto data, most of the top 200 altcoins by market cap have seen increases over the past 24 hours, with #ETH rising over 12% and $SUI rising over 21%.
In the derivatives market, Coinglass @coinglass_com data shows that in the past 24 hours, the total liquidation across the network reached $581 million, mainly short positions, amounting to $507 million. By cryptocurrency, $BTC liquidations amounted to $294 million, and $ETH liquidations amounted to $117 million.
This strong trend has caused the previously bearish well-known trader Eugene @0xENAS to express concern, "Bitcoin reaching $90,000 has climbed to my wall of worry. The bearish preference has more or less failed. If this continues, I will look for longs in altcoins, and $SOL might be the current test choice."
Gold's purchasing power spills over to Bitcoin
Over the past month, a series of policies such as Trump's tariffs have caused global market turmoil, with investors' risk aversion sentiment rising, leading them to prefer traditional safe-haven asset gold. According to TradingView data, gold has been on an upward trend since 2025, reaching $3,500 per ounce yesterday, a historical high, with a current market value of $22.545 trillion.
The traditional market generally believes that Bitcoin, as "digital gold," also has a high safe-haven attribute. In the context of the continuous correction of U.S. stocks and the weakening of the dollar, BTC can still rise against the trend. Therefore, when gold continues to rise and breaks new highs, some funds will also spill over to Bitcoin.
Robert Kiyosaki, author of "Rich Dad Poor Dad," has repeatedly placed Bitcoin and gold on the same level, pointing out that those who take action and invest in gold, silver, or Bitcoin in the face of the impending financial disaster may become wealthy after the upcoming economic collapse. He firmly believes that by 2035, Bitcoin will reach $1 million, and gold and silver will also appreciate significantly.
Trump backs down, Musk concedes
Another important factor in the market's recovery is that Trump has finally backed down, and Musk has also made political concessions. Senior Fox Business reporter Charles Gasparino stated:
Today is a day of compromise: Trump has softened his stance on trade policy and Powell's tenure; Musk also announced he will gradually exit the government efficiency department and return to Tesla's main business in May. The market is like this; it always forces you to bow and admit defeat. As I say: Make Caving Great Again!
According to the Wall Street Journal, Trump stated at the White House on Tuesday that although he hopes the Federal Reserve will cut interest rates more aggressively, he does not intend to fire current Fed Chairman Jerome Powell. Trump had previously criticized Powell harshly on social media, saying the sooner he leaves, the better, and had expressed a willingness to remove Powell. Such remarks once caused market turmoil. Trump's latest statement has significantly warmed market sentiment, with the dollar and U.S. stock futures rising and gold retreating.
Before Trump's official statement, Citigroup's chief economist and European Central Bank President Lagarde, among others, were confident that Powell would not be removed, stating, "This line will not be crossed."
On tariffs, Trump is ending his "hostile" rhetoric towards various countries and instead seeking active negotiations on trade. As ForexLive analyst Adam Button stated: The dollar and stock market are strengthening, and the market is eager to hear good news. I think today's good news is that Trump remains silent on trade issues. This may lead some market participants to believe he is eager to reach a deal and anything that could reverse the market.
In addition to ending "hostile" rhetoric, the Trump administration has also made actual progress in trade negotiations. According to Politico, the White House is about to reach comprehensive agreements with Japan and India to avoid imposing large-scale tariffs. The U.S. White House also stated that 18 trade agreement proposals have been drafted, and the trade team will meet with 34 countries this week, with potential trade agreements with China progressing very smoothly. White House Press Secretary Levitt stated that the situation with China is moving in the right direction.
Cantor forms a Bitcoin investment consortium exceeding $3 billion, "new version Strategy" born
In addition to absorbing gold spillover funds and the Trump administration's "return to stability and rationality," there is another major positive news in the market.
According to the Financial Times, the financial services company #Cantor, led by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is collaborating with #SoftBank, #Tether, and the crypto trading platform #Bitfinex to form a Bitcoin investment consortium exceeding $3 billion.
According to three insiders, the consortium will absorb billions of dollars in crypto assets held by partners, following the successful path of Strategy (MSTR.O)—a software company that transformed into a cryptocurrency investment firm, currently holding billions of dollars worth of Bitcoin, with a market value soaring to $91 billion.
This move also coincides with the Trump administration's push for digital currency-friendly policies. Insiders added that Tether will contribute $1.5 billion in Bitcoin, while SoftBank and Bitfinex will contribute $900 million and $600 million in Bitcoin, respectively.
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