Bitcoin (BTC) registered a marginal decline over the past 24 hours, slipping below the crucial $96,000 mark. The flagship cryptocurrency has not ceded ground to the bears, maintaining its position above key levels as it eyes a move to $100,000 and beyond. BTC is trading at around $95,900. Analysts believe the asset is approaching a significant breakout point, with on-chain data and trading volumes indicating an imminent surge. Bitcoin A Matter Of National Security The CIA is increasingly integrating Bitcoin as a tool in its operations, and working with the asset is a matter of national security, according to Michael Ellis, the agency’s deputy director. Ellis made the comments during an appearance on Anthony Pompliano’s The Pomp Podcast, stating that the CIA works with law enforcement agencies to track BTC , adding that it is a point of data collection in counter-intelligence operations. Ellis stated, “Bitcoin is here to stay cryptocurrency is here to stay. As you know, more and more institutions are adopting it, and I think that is a great trend. One that this administration has obviously been leaning forward into.” BlackRock’s Bitcoin Fund Holds 607,685 BTC Worth $58.5 Billion Spot Bitcoin and Ethereum ETFs amassed nearly $700 million during Friday’s trading session, ending the week on a high. Bitcoin ETFs registered inflows of $674 million, while Ethereum ETFs notched up inflows of $20 million, according to data from SoSoValue. BlackRock’s IBIT captured nearly all inflows into Bitcoin ETFs, while others ended relatively flat. Friday’s inflows pushed IBIT’s trove to a staggering 607,685.49 bitcoin, valued at about $58.5 billion. Bitcoin ETFs have registered over $40 billion in net inflows since January 11. Meanwhile, Ethereum ETFs registered a similar pattern, with $20.10 million flowing almost exclusively to BlackRock’s ETHA. The remaining Ethereum ETFs registered neither gains nor outflows. Analysts Bullish On Strategy’s Bitcoin Acquisition Plans Analysts are upbeat about Strategy and its Bitcoin acquisition plans despite the company reporting a per-share decline of $16.49 in Q1. Equity analysts from Benchmark and Bernstein reiterated their buy ratings. They set lofty price targets for Strategy a day after the firm reported a $5.9 billion loss on its Bitcoin holdings in the first quarter of 2025. The analysts highlighted Strategy’s plans to acquire more Bitcoin. Strategy pivoted to BTC from software development around five years ago. Mark Palmer, Benchmark Senior Research Analyst, Fintech and Digital Assets, stated, “The number of companies that have sought to replicate Strategy’s (MSTR) Bitcoin acquisition strategy has continued to grow rapidly, with more than 70 public companies following its lead by adding Bitcoin to their balance sheets. Yesterday, MSTR issued a reminder of the extent of its first-mover advantage and how its ability to accelerate its accumulation of Bitcoin has continued to increase as its platform has scaled.” Strategy reported a decline of $16.49 per common share in the first quarter of 2025 thanks to BTC’s steep decline. The firm also experienced macroeconomic headwinds impacting crypto and tech firms. However, it outlined its intention to purchase more Bitcoin during Thursday's earnings call. Strategy pivoted from software development to Bitcoin in 2020 and owns 554,000 BTC , valued at a staggering $53 billion at current prices. Strategy purchased its BTC at an average cost of $68,459 as of April 28. Meanwhile, Tyson’s Corner, a Virginia-based company, is completing an initiative announced last October. The firm announced plans to purchase $42 billion worth of Bitcoin and unveiled an ambitious 42/42 Plan to acquire an additional $42 billion worth of Bitcoin through 2027. “It intends to raise a total of $84 billion of capital ($42 billion in equity and $42 billion in fixed income) through 2027 to fund Bitcoin purchases. MSTR’s audacious $84 billion capital-raising target includes the $42 billion targeted by its initial plan, which is now 65% complete with ~$14.7 billion remaining.” Bitcoin (BTC) Price Analysis BTC is oscillating around $96,000, registering a marginal decline to slip below this key level and move to its current level. The flagship cryptocurrency has been unable to stay above $96,000 as it faces a final resistance hindering a move to $100,000. Analysts believe the $100,000 level is crucial in dictating BTC’s price trajectory and could act as a springboard for bullish momentum or trigger profit-taking that could lead to a substantial spike in selling pressure. The flagship cryptocurrency has lost momentum over the weekend despite rising to an intraday high of $97,996 on Friday. BTC was bullish the previous week, rising nearly 3% on Monday and rallying almost 7% on Tuesday, surging past $90,000 and settling at $93,373. The rally stalled on Wednesday as it faced selling pressure and volatility. Despite this, BTC registered a marginal increase and settled at $93,749. The price fell to an intraday low of $91,693 on Thursday as selling pressure intensified. However, it rebounded from this level to claim $94,000 and settle at $94,009. BTC continued to push higher on Friday, increasing nearly 1% to $94,776. Price action turned bearish over the weekend as BTC registered a marginal drop on Saturday and fell almost 1% on Sunday to settle at $93,802. Source: TradingView The current week started on a bullish note as BTC rose 1.29% to claim $95,000 and settle at $95,010. Despite the positive start, the price dropped on Tuesday, falling 0.70%, slipping below $95,000 and settling at $94,341. BTC faced volatility on Wednesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as BTC registered a marginal decline and dropped to $94,160. Bullish sentiment returned on Thursday as BTC rose 2.43% to surge past $96,000 and settle at $96,452. BTC continued to push higher on Friday, reaching an intraday high of $97,996 before losing momentum and settling at $96,939. However, the rally lost momentum on Saturday as the price fell almost 1%, slipping below $96,000 and settling at $95,988. The current session sees BTC marginally up as buyers and sellers struggle to establish control. Buyers will look to establish control and push towards $100,000. Meanwhile, sellers will look to test support levels, driving the price towards $90,000. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
