- Bitcoin (BTC) price trades above $111,400 and eyes $112k amid new bullish momentum.
- Strategy, formerly MicroStrategy, has announced plans to buy up to $2.1 billion in BTC.
- The company’s plans and overall market outlook are boosting bulls.
Bitcoin (BTC) rose above $111,000 again after a brief retreat from its all-time high.
The top crypto traded at $111,486 at the time of writing, just off the ATH of $111,861 reached on Wednesday.
While the daily range included a revisit of prices below $111k, Strategy’s, formerly MicroStrategy, announcement looks to have injected fresh impetus into Bitcoin bulls.
With BTC near $111.5k, bullish sentiment could see it line up another explosive run.
This is after Michael Saylor’s Strategy revealed plans to buy an additional BTC worth $2.1 billion.
On May 22, 2025, Strategy disclosed the intended BTC purchase in a prospectus supplement that the company filed with regulators.
The filing shows that Saylor’s publicly-listed firm plans to issue up to $2.1 billion of its 10.00% Series A perpetual preferred stock and use the proceeds to add to its Bitcoin strategy. Funds will also go into working capital.
“Strategy expects to make sales of perpetual strife preferred stock pursuant to the ATM Program in a disciplined manner over an extended period, taking into account the trading price and trading volumes of the perpetual strife preferred stock at the time of sale. Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of bitcoin, and for working capital,” the company said in a press release.
Bitcoin price prediction
Crypto investor and analyst Scott Melker posted on X that Bitcoin had just completed a “golden cross”, between the 50-day and 200-day moving averages.
He shared a chart showing the potential BTC price pump.
“This is the third since late 2023. As you can see, each was preceded by a “death cross,” which has always been a lagging signal at the bottom,” he noted. “Each Golden Cross led to a parabolic advance.”
Here’s Scott Melker, aka Wolf of All Streets’ post with a Bitcoin price chart.
$BTC Daily
Bitcoin just completed a “golden cross” between the 50 MA and 200 MA.
This is the third since late 2023.
As you can see, each was preceded by a “death cross,” which has always been a lagging signal at the bottom.
Each Golden Cross led to a parabolic advance, pic.twitter.com/MpzXMKV1Go
— The Wolf Of All Streets (@scottmelker) May 22, 2025
After hitting highs above $110k, analysts are bullish that the next target for BTC could be $120k by the end of the second quarter.
Standard Chartered forecasts a run to $200k by the end of the year, while gains amid institutional interest could send Bitcoin price to above $500k by 2029.
In the tailwinds corner for BTC price could be the “massive liquidity boom” that Bitcoin maxi Fred Kreuger says will soon hit the market.
We’re headed into a massive liquidity boom.
At the end of the day, the pivot away from DOGE is complete. There will be no “cutting” of anything. Only “printing”.
Bitcoin has only experienced this once — in 2020. But this time could be even more explosive.
— Fred Krueger (@dotkrueger) May 22, 2025
Bitcoin price has increased by over 4% in the past 24 hours and over 25% in the past month.
