Bitcoin Price Surges Back to $116,000 After Bloody Crypto Weekend
Bitcoin MagazineBitcoin Price Surges Back to $116,000 After Bloody Crypto Weekend It looks like market jitters have eased as Bitcoin price rebounded to $116,000 today. This post Bitcoin Price Surges Back to $116,000 After Bloody Crypto Weekend first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Bitcoin Magazine
Bitcoin Price Surges Back to $116,000 After Bloody Crypto Weekend
It’s been a rocky three days for the crypto market… to say the least.
But bitcoin holders are faring best, as bitcoin price bounced back sharply to around $116,000 today following a volatile weekend that saw the broader crypto market slump.
The bitcoin price fell to the low $100,000s on Friday as U.S. and China trade tensions rattled global markets. President Donald Trump announced new 100% tariffs on Chinese goods after Beijing unveiled sweeping export controls set to begin Nov. 1.
But over the weekend, market jitters eased and the bitcoin price gradually rebounded. President Trump walked back some of the fear and posted that ‘it will all be fine’ in reaction to the trade tensions.
The recovery comes as both institutional inflows and corporate treasury activity help stabilize sentiment across crypto markets.
The latest leg higher was sparked, in part, by Strategy’s announcement that it had purchased an additional 220 BTC for roughly $27.2 million, bringing its total holdings to 640,250 BTC — about 3.1% of Bitcoin’s total supply.
The company funded the purchase through proceeds from several at-the-market (ATM) share offerings over the past week.
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