Bitcoin Climbs to $85K as Institutional Players Go on a Buying Spree
Markets and Prices
Frederick Munawa
1 day ago
Bitcoin Climbs to $85K as Institutional Players Go on a Buying Spree
The leading digital asset continued its ascent as companies such as stablecoin behemoth Tether revealed billions worth of BTC on the books.
Bitcoin Climbs to $85K as Institutional Players Go on a Buying Spree
BTC Reclaims $85k As Bullish Firms Go Shopping
The world’s largest stablecoin firm revealed on April 1 that it had acquired 8,888 BTC during the first quarter of 2025 and now holds nearly $8 billion worth of bitcoin. On the same day, Japanese bitcoin treasury firm Metaplanet announced a 696 BTC purchase, signaling to markets that institutional interest in the cryptocurrency is only increasing.
At the time of reporting, bitcoin was trading at $85,240.06, marking a 2.01% increase since yesterday, although it remains down 2.86% over the past week. The digital asset traded within a 24-hour range of $82,263.41 to $85,487.37, while its 24-hour trading volume climbed to $27.45 billion, up 0.37%.
Bitcoin Climbs to $85K As Institutional Players Go On a Buying Spree
( BTC price / Trading View)
Market capitalization for bitcoin now stands at $1.69 trillion, up 2.22% from the previous day, reflecting renewed investor interest. Despite this, bitcoin’s dominance dipped slightly, resting at 62.37%, a minor decline of 0.09% over 24 hours. Meanwhile, total BTC futures open interest reached $55.38 billion, showing a 3.03% increase as traders maintained leveraged positions ahead of key market moves.
Bitcoin Climbs to $85K As Institutional Players Go On a Buying Spree
( BTC dominance / Trading View)
Liquidation data from Coinglass revealed that over the past 24 hours, bitcoin saw $25.64 million in total liquidations. Notably, long liquidations amounted to just $443,490, while short liquidations were significantly higher at $25.19 million, suggesting that bearish traders largely bet in the wrong direction.
Institutions Continue BTC Buying Frenzy
Stablecoin giant Tether, announced on April 1 that it purchased a total of 8,888 BTC during the first quarter of 2025, bringing its overall bitcoin holdings to $7.8 billion.
Japanese bitcoin treasury firm Metaplanet, which recently announced a $13.3 million (¥2 billion) bond issuance, has purchased 696 additional bitcoin bringing its total holdings to 4,046 BTC, according to an X post from the company on April 1.
Bitcoin Climbs to $85K As Institutional Players Go On a Buying Spree
(Metaplanet announces 696 BTC purchase / Simon Gerovich on X)
The purchases demonstrate continued institutional interest in the digital asset which contributes to bitcoin’s long-term price stability.
Market Outlook
Looking ahead, market participants are keeping a close watch on institutional moves and overall trading sentiment. With robust backing from major players like Tether and Metaplanet, bitcoin’s fundamentals appear solid. However, ongoing bearish liquidation pressures and market volatility mean that short-term price movements could remain choppy.
For now, analysts suggest that bitcoin could test the mid-$80K levels further, but strong institutional support may help push it toward the low $90K range in the coming weeks.
Markets and Prices
Jamie Redman
XRP Price Analysis: Bulls Eye $2.20 Breakout Amid Choppy Action
The current trading environment for XRP reflects consolidation within a cautious downtrend, with prices anchored at $2.12 to $2.135 amid a 24-hour trading range of $2.07 to $2.19, underpinned by a $123 billion market cap and $4.18 billion in trading volume.
XRP Price Analysis: Bulls Eye $2.20 Breakout Amid Choppy Action
XRP
On the 1-hour chart, XRP displays choppy price action with a recent lower high at $2.199, confirming intraday bearish pressure. The support zone at $2.10 has been tested repeatedly, demonstrating resilience but also vulnerability. The rejection near $2.199 implies sellers remain in control at higher levels. Intraday traders may consider short positions if XRP breaks cleanly below $2.10, targeting the $2.02 zone. Conversely, holding above $2.10 allows for potential scalp opportunities toward $2.18 to $2.20, albeit with cautious optimism given the weak bullish response and limited momentum.
XRP Price Analysis: Bulls Eye $2.20 Breakout Amid Choppy Action
The 4-hour chart portrays XRP in a post-downtrend phase, transitioning into a sideways consolidation pattern. Support has solidified near $2.02, while resistance at $2.15 to $2.20 has capped recent upward attempts. The uptick in volume on bearish candles near resistance suggests potential bull traps, implying sellers might be distributing. Should the price close decisively above $2.20 on strong volume, a short-term bullish breakout toward $2.40 could unfold. However, any failure to maintain the $2.10 level, especially under high-volume selling, may reintroduce downside pressure targeting sub-$2.00 levels.
XRP Price Analysis: Bulls Eye $2.20 Breakout Amid Choppy Action
The daily chart affirms a broader short-term downtrend following a peak near $2.90, characterized by a bearish engulfing pattern and lower highs. Key support exists around $1.90 to $2.00, aligning with previous demand zones and strong volume responses. Resistance remains formidable between $2.50 and $2.60, having rejected multiple upward pushes. The volume surge during a prior green candle hints at a blow-off top, succeeded by steady selling pressure. Long positions are more favorable near $2.00–$2.10, provided confirmation through reversal candlestick patterns and volume upticks.
XRP Price Analysis: Bulls Eye $2.20 Breakout Amid Choppy Action
The daily chart’s oscillators provide a mixed but cautiously supportive technical outlook. The relative strength index (RSI) at 39.94980 remains neutral, suggesting the asset is not in overbought or oversold territory. The Stochastic oscillator at 14.29918 also holds a neutral position, albeit near oversold conditions. The commodity channel index (CCI) at −135.11363 indicates bullishness, highlighting potential undervaluation. The momentum oscillator at −0.25519 corroborates a positive signal, suggesting emerging bullish interest. However, the moving average convergence divergence (MACD) at −0.06858 shows bearish signals, reflecting the downward momentum prevailing at present. Both the awesome oscillator and average directional index (ADX) point to a neutral stance, underscoring a lack of strong trend conviction.
XRP’s moving averages (MAs) on the daily overwhelmingly support a bearish outlook in the short to medium term. All key short-term indicators—exponential moving averages (EMA) and simple moving averages (SMA) across 10, 20, 30, 50, and 100 periods—signal negative sentiment, with current prices residing below their respective trend lines. Specifically, the exponential moving average (10) at $2.22150 and the simple moving average (10) at $2.27067 both exceed the spot price. However, the longer-term exponential moving average (200) at $1.94347 and simple moving average (200) at $1.80261 flash a positive signal, suggesting the longer-term trend may still lean bullish despite short-term weakness. This divergence supports a wait-and-see approach, reinforcing the importance of key support levels in determining XRP’s near-term trajectory.
Bull Verdict:
XRP maintains the potential for a bullish reversal if it defends the $2.10 support and breaks above $2.20 with meaningful volume, paving the way for a rally toward $2.40. Oscillator buy signals from the commodity channel index (CCI) and momentum indicators, along with long-term moving average support, hint at latent buying pressure that could reemerge if short-term resistance levels are cleared.
Bear Verdict:
The dominant trend remains bearish across multiple timeframes, with price action repeatedly failing to sustain upward momentum. A breach below $2.10 could invite further downside toward $2.00 or below, especially given the bearish signals from the moving average convergence divergence (MACD) and the consensus of sell signals across nearly all short- and mid-term moving averages. Until the price reclaims and holds above $2.20, sellers retain control.
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