You Won’t Believe What the US Treasury Secretary Just Said About Bitcoin 📈😂

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If you blinked this weekend, you might have missed Bitcoin’s daring bungee jump. One minute it’s bravely eyeing $97k—next minute, it’s clinging to $94.1k like me clinging to the last jelly donut at a Weight Watchers meeting. As for today’s price? Well, my crystal ball says No data found for bitcoin on 1 hour ago, so it seems the folks updating the numbers went on a coffee break and never came back.

Our mood is buoyed by spot Bitcoin ETF inflows of $4.87 billion in two weeks, a sum that would buy a lot of lattes—or perhaps a one-bedroom in Manhattan. Then there’s US Treasury Secretary Scott Bessent, who’s discovered Bitcoin and now wants to be known as “Crypto Dad.” He muttered something about tariffs, gold, and Bitcoin becoming a store of value, which is Treasury-speak for, “I missed the boat in 2012, but hey, I’m here now.”

JUST IN: US Treasury Secretary Scott Bessent said “Bitcoin is becoming a store of value”. 🚀💰
— Bitcoin Magazine (@BitcoinMagazine) April 4, 2025

Bitcoin Price Today: Why is BTC up?

Let’s talk numbers: Over the weekend, Bitcoin heroically lost nearly 3% after poking its nose into the $97k supply zone—the financial equivalent of crashing someone else’s high school reunion. Despite this, today’s price is (wait for it) No data found for bitcoin on 1 hour ago. My chart app fainted, and I’m still reviving it.

*bitcoin price updated as of No data found for bitcoin on 1 hour ago. Please send help if you find the data.

Somehow, despite Trump’s trade war cosplay and mounting macroeconomic drama, BTC is still hovering at No data found for bitcoin on 1 hour ago. Go figure. Maybe it’s the $3 billion sprint into ETFs—turns out, money really does talk, and sometimes it buys digital coins.

As for what’s next…if my in-laws taught me anything, it’s to always expect another surprise.

Bitcoin’s Market Capitalization

The market cap is currently floating at No data found for bitcoin on 1 hour ago, with trading volume at a robust No data found for bitcoin on 1 hour ago. This could mean the market is thriving—or that the intern in charge of reporting numbers called in sick. Either way, crypto Twitter is optimistic, and who am I to argue with a group that believes laser eyes are a personality trait?

Short-term Correction Likely for BTC Price

Peering at the daily chart (squinting, really), there’s a clear rejection from $97.1k to $98.1k, sparking a 4.50% correction. Fortunately, Bitcoin is still swanning around the $93k-$102.5k value area—the digital currency’s equivalent of crashing on a friend’s couch. This magical zone held 70% of the trading action from November 2024 to February 2025, which means it’s basically where traders spent winter hibernating.

If you’re the adventurous sort, watch the reaction at $93k. If support forms, bulls might drive this thing 10% higher—to $102.5k—assuming, of course, the bulls haven’t left for greener pastures (Ethereum, perhaps?).

If $93k breaks, Bitcoin could tumble toward the $81k–$88.4k range, the kind of “value area” known in real estate as “fixer upper.” Accumulating the dips here could pay off, or you could just buy a lottery ticket—both strategies provide an equal amount of existential thrill.

But will it crash or rally? Ask again after my next nervous breakdown.

Key Events That Could Affect Bitcoin Price

This week’s itinerary for Bitcoin: FOMC meeting on May 7, Jerome Powell’s speech, and, because we can never have too much excitement, US Jobless Claims data on May 8. For added drama, sprinkle in Trade Tariff tweets, plus the usual international squabbles for that extra global spice.

Will all this affect Bitcoin? Possibly. So will the weather, Mercury retrograde, and what my neighbor’s dog eats for breakfast. As always, buckle up.

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2025-05-05 15:41