Why is Bitcoin Price Up Today?
Bitcoin’s climb above $109,000 unfolded alongside fresh corporate buying from Strategy and Metaplanet and JPMorgan’s decision to accept Bitcoin ETFs as collateral, signalling deeper integration between crypto and traditional finance. Circle’s strong market debut, Singapore’s call for unlicensed exchanges to withdraw from overseas operations, and Scottie Pippen’s public endorsement of Bitcoin rounded out a week that highlighted expanding institutional adoption, tighter regulatory scrutiny, and broader cultural visibility across the digital-asset landscape.
Key takeaways
- Strategy, Metaplanet, and other corporates continued to accumulate Bitcoin, reducing circulating supply.
- JPMorgan now treats spot-Bitcoin ETFs as eligible collateral for loans, strengthening links between crypto and traditional finance.
- Circle’s public listing opened well above expectations, with the share price touching $123.49 on day one.
- NBA Hall-of-Famer Scottie Pippen urged followers to research Bitcoin.
Bitcoin market recap
Bitcoin tested support near $104,000 mid-week during renewed U.S.–China tariff tension but never slipped under $100,000. A swift rebound followed as institutional bids absorbed supply. The Fear & Greed Index read 61 (“Greed”), matching the price recovery.
Institutional accumulation
Strategy now holds roughly 580,955 BTC valued near $62.5 billion. Executive chair Michael Saylor disclosed an additional $1 billion capital raise earmarked for further purchases.
Metaplanet’s board approved plans to raise up to $5.4 billion for additional Bitcoin acquisitions, extending the Japanese firm’s accumulation strategy.
Traditional-finance integration
- JPMorgan added spot-Bitcoin ETFs to its acceptable collateral list for secured loans and began including crypto holdings in client net-worth calculations.
- Circle debuted on public markets under ticker CRCL, opening at $103.75—235 % above its reference price—and reaching an intraday peak of $123.49.
Regulatory and industry highlights
- Singapore ordered unlicensed crypto platforms to wind down offshore services by 30 June, citing consumer-protection standards.
- Scottie Pippen encouraged followers to “study Bitcoin,” continuing his public advocacy for the asset.
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