Bitcoin Price Hits $86,640 —  Why Market Data Shows $114K is Possible?

Today, Bitcoin climbed above the $86,000 price point and recorded breaking this important resistance level. The value has dropped a bit since then, as BTC is trading near $85,767. Despite this, a break in an important psychological resistance level remains an essential bullish signal for this coin. This bullish sentiment can be attributed to a variety of factors. The hint of Michle Saylor for an upcoming Bitcoin purchase by Strategy is an important fundamental factor.

Additionally, the Fed’s decision to keep the previous interest rates could also be a contributor to the bullish movement. As Bitcoin climbed to a peak of $86,640 earlier today, some on-chain indicators signalled further bullish momentum. As such, with fundamental and technical indicators supporting a bullish sentiment, a big rally for this crypto might be on the way.

Strategy’s $500M Power Play: Fueling the Bitcoin Rally

As we briefly mentioned, a new probable BTC purchase by Strategy ( Former MicroStrategy ) could be a cause for this surge. Michale Saylor, the founder and ex-CEO of Strategy, recently shared a hint for upcoming BTC purchases. On his official X account, he shared a picture of Strategy’s portfolio tracker, as seen in Chart 1. Additionally, he wrote, “Needs more Orange,” which, when accompanied by the portfolio tracker, can only mean more BTC. 

Chart 1 – Provided by Michale Saylor, published on X, March 24, 2025

According to Chart 1,  the firm holds 499,226 BTC in its reserve. Based on the history of previous purchases by Strategy, this count will probably go above 500,000 soon. Moreover, this investment company also announced plans to increase its funding for such purchases by $500 million. This news came last week as this company is set to raise this amount by selling its preferred stock. As such, with increased purchasing power, Strategy will probably strengthen the bullish movement with its next big Bitcoin buy. There are also other fundamental catalysts behind today’s Bitcoin price increase.

$785M Surge: Institutions Are Back in the Bitcoin Game

One of the main bullish signals is the recent change in the Bitcoin ETF market from consecutive outflows to inflows. These inflows were recorded to be $785 million and represent the return of institutional interest to BTC. Additionally, market data shows that 200,000 Bitcoins have been purchased since the last days of February. This high number signals a newfound interest from both retail and institutional investors. Another contributor to today’s Bitcoin price increase could be the FOMC meeting last week. 

Fed’s Steady Hand Sets the Stage for BTC Growth

The Fed meeting ended with the decision to keep the interest rates unchanged. After the results were announced, BTC saw a 3.5% bump in price, which was a positive signal. Additionally, the anticipated interest rate cut in April will also be a Bullish development for the BTC market. Another positive development for BTC is the recent announcement by the IMF, giving Bitcoin the title of digital gold. It is worth mentioning that analysts and market experts like BitMEX’s ex-CEO Arthur Hayes believe $77K was BTC’s bottom. As such, the BTC price surge will likely continue.

Bullish Signals Surge: BTC Eyes $114K Target

We can also mention some positive on-chain indicators. The daily trading volume for BTC has increased to $13.283B, which, with the ongoing uptrend, means an increase in buyers. The seven-day growth in Bitcoin market value is also a bullish signal, as it has now reached 3.1%. Based on the technical analysis of BTC’s recent price movement, a double-bottom reversal pattern is also apparent. This pattern can be seen in the $76K to $78K range, which signals a possible BTC price surge to $114K.