Bitcoin: the Bull Run continues!

Volatility is back on Bitcoin. Between jolts and hesitations, the upward trend remains vivid.

Banal correction

Bitcoin oscillates around $ 115,000, down 7 % compared to its highest historic high of 124,457 dollars reached on August 14. We are still increasing by more than 90 % from one year to the next.

Record entries in ETF (the ETF of Blackrock holds $ 88 billion in BTC) and massive business purchases like Strategy continue to fuel optimism.

Dutch company Amdax has just announced its intention to buy 1 % of the total Bitcoin offer, or 210,000 BTC!

Strategy already buys 785 bitcoins per day. It is 186 bitcoins for Twenty One Capital, 128 BTC for Bitcoin Standard Treasury Company, or 73 BTC for Metaplanet:

Add the 1,500 BTC absorbed daily by ETFs, and we are much above the natural offer of 450 BTC mined each day. Hence the assessment of 60 % per year on average over the last five years. It's 77 % if we have been doing the accounts since 2011, when a Bitcoin was worth $ 1.

The Bull Run is far from over. The decline of 10 % of the past few weeks is something classic. However, it should be made clear that the high target of 200,000 dollars is moving away for 2025.
Several factors are involved. There was the sale of 80,000 BTC in mid-July following the liquidation of an inheritance. And then the contradictory signals of the American Treasury Department

Would the bitcoin reserve have lead in the wing?

The American Treasury Secretary Scott Bessent dropped to Fox News that the United States would not strengthen their Bitcoin reserve. And that only a few days after the director in charge of Bitcoin strategy, Bo Hines, resigned from his post. It didn't take more to panic the gallery.

Faced with general misunderstanding, the secretary quickly corrected the shot on X by writing that the treasure remained “Committed to exploring neutral tracks on the budgetary plan to acquire more bitcoins to increase the reserves and keep the presidential promise to make the United States the world superpower of Bitcoin”.

Bo Hines has since joined the Stablecoin Tether company. And just like Strategy, Tether tirelessly accumulates bitcoins (100,000 BTC in reserve).

All eyes are now turning to the “Bitcoin Act” of senator Cynthia Lummis. The plan is to buy a million bitcoins via the sale of part of golden stocks.

For skeptics, let us recall that the company of the American president, Trump Media & Technology Group, recently bought for 2 billion bitcoins. There are signs that do not deceive …

Note also that Brazil has just started discussions concerning the creation of a Bitcoins Strategic Reserve. MP Eros Biondini suggests allocating up to 5 % of Brazil exchange reserves, or $ 19 billion. Brazil would then hold as many bitcoins as the United States.

Brrrrr….

Bitcoin has taken up altitude since the president of the president of the Fed to Jackson Hole. A drop in rates seems to be taking shape for September. The key sentence of the speech was:

The evolution of risk balance could justify an adjustment of our monetary policy.

Jérôme Powell

That's all the markets wanted to hear. Trading algorithms have reacted instantly to this passage, leaping stocks and lowering borrowing rates.

Jérôme Powell, however, recalled that the increase in customs duties could have an impact on inflation. The last appeal solution would then be to run the ticket board (quantitative EASING) to keep the rates in the floor.

Is that the reason why Donald Trump is so much to take control of the Fed? In any case, a decrease rates will accelerate credit growth. This will result in a general increase in markets, including Bitcoin.

See you on September 17 for Jérôme Powell's next press conference. A monetary softening would be a good omen for the end of the year. Just as a return from Bitcoin Act to the front of the stage.

Michael Saylor tries on a bitcoin between $ 150,000 before Christmas. Do not miss our last article: Check if your bitcoins are threatened by the quantum.