Bitcoin (BTC) is holding close to $108,341 at present, buoyed by renewed confidence following Elon Musk’s official endorsement of the America Occasion’s assist for Bitcoin adoption. In a press release posted on X, Musk labeled fiat cash “hopeless” and positioned Bitcoin as a cornerstone of the get together’s fiscal imaginative and prescient forward of the 2026 midterm elections.
Whereas critics dubbed the transfer “soundbite,” Musk’s firms, SpaceX and Tesla, already maintain practically 19,800 BTC, value over $2.1 billion. His endorsement reinforces the asset’s credibility as a long-term hedge towards inflation and centralized coverage danger. Although the announcement triggered solely a modest uptick to $107,838, sentiment within the crypto house turned notably extra optimistic.
Elon Musk Declares Fiat ‘Hopeless,’ Says America Occasion Will Embrace Bitcoin
► https://t.co/hxKSXEKXdh https://t.co/hxKSXEKXdh— Decrypt (@DecryptMedia) July 7, 2025
The symbolic embrace of Bitcoin by a political get together led by one of many world’s most influential entrepreneurs may affect U.S. crypto regulation. It alerts a broader shift in how digital belongings could also be handled in future political and financial methods.
Metaplanet’s $237M Purchase Fuels Bullish Narrative
Japan’s Metaplanet added 2,204 BTC this week for $237 million, turning into the fifth-largest company Bitcoin holder with 15,555 BTC. This leapfrogs Tesla and CleanSpark, highlighting the continued growth of Bitcoin treasury methods amongst world corporations.
- Common purchase value: $107,700 per BTC
- Whole holdings: 15,555 BTC
- 2025 YTD BTC accumulation: 3,400+ BTC
JUST IN:
Metaplanet purchased an extra 2,205 Bitcoin value $240.8M.
The corporate now holds 15,555 $BTC, valued at $1.69B. pic.twitter.com/nXwjCh5FiE— BeInCrypto (@beincrypto) July 7, 2025
The transfer comes amid broader institutional momentum. Firms like Technique and ProCap have ramped up their reserves, and even smaller corporations are becoming a member of in. France’s Blockchain Group acquired 116 BTC, bringing its complete to 1,904 BTC, whereas UK-based Smarter Internet Firm added 226 BTC, now holding 1,000 BTC after boasting a staggering 26,242% YTD return.
JUST IN:
@SmarterWebUK has acquired 226.42 BTC for £17.9M (~$107,726 per BTC).
BTC Yield: 26,242% YTD
Whole Holdings: 1,000 BTC
£42.3M in BTC-ready money
The Smarter Internet Firm is constructing a #Bitcoin treasury at startup pace—with public market precision. pic.twitter.com/DGCI9sws2K— Bitcoin For Firms (@BitcoinForCorps) July 7, 2025
Though some analysts argue that early treasury beneficial properties are fading, Metaplanet’s continued purchases recommend that institutional conviction stays agency. These strategic accumulations are cushioning value motion throughout macro volatility and reinforcing long-term bullish expectations.
Bitcoin Technical Outlook: Key Assist Holds
On the 4-hour chart, Bitcoin is bouncing off the ascending trendline assist, with the 50-SMA at $108,146 offering dynamic assist. The $108,941 resistance stays the ceiling to interrupt. The current value construction options small-bodied candles and lengthy wicks, indicating indecision relatively than rejection.
RSI sits impartial at 49.60, and no bearish divergence is current, suggesting momentum is regular however nonetheless trying to find conviction.
A breakout above $108,941 may drive BTC towards $109,727 and $110,561. Dropping the trendline and 50-SMA may drag it to $107,323 and even $106,422.
Commerce Setup:
- Purchase Entry: Above $108,950 on sturdy bullish candle
- Goal 1: $109,727
- Goal 2: $110,561
- Cease-Loss: Beneath $108,100
For now, Bitcoin’s technical construction stays intact. So long as the trendline holds and value stays above the 50-SMA, the bulls keep short-term management.
Bitcoin Hyper Presale Over $2M as Value Rise Nears
Bitcoin Hyper ($HYPER), the primary Bitcoin-native Layer 2 powered by the Solana Digital Machine (SVM), has raised over $2 million in its public presale, with $2,061,881 out of a $2,510,240 goal. The token is priced at $0.012175, with the following value tier anticipated to be introduced quickly.
Designed to merge Bitcoin’s safety with Solana’s pace, Bitcoin Hyper allows quick, low-cost good contracts, dApps, and meme coin creation, all with seamless BTC bridging. The venture is audited by Seek the advice of and engineered for scalability, belief, and ease.
The golden cross of meme attraction and actual utility has made Bitcoin Hyper a Layer 2 contender to look at in 2025. With staking, a streamlined presale, and a full rollout anticipated by Q1, $HYPER is gaining severe traction.
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