In a stunning development, the Bitcoin price has made a remarkable recovery from the recent tariff-induced slump. In a day, the pioneer cryptocurrency has increased by more than 6%, marking a sharp surge from a mere $87k to nearly $94k.
Reportedly, Bitcoin’s appreciation over the past day could be attributed to several factors, including Paul Atkins’ inauguration as the US SEC Chair, BTC ETF inflows, dollar crash, and more. In this article, we’ll explore the possible reasons for BTC’s surprising uptrend and whether this positive momentum will sustain.
Bitcoin Price Skyrockets, Is $180K the Next Target?
As BTC has experienced a notable uptrend over the past day, analysts and traders remain optimistic about its potential trajectory. According to analysts like CryptoELITES, this sudden hike in the Bitcoin price is an indicator of its imminent bull run.
At press time, Bitcoin is valued at $93,511, up by 6%. Over the past week and month, BTC has experienced notable increases of 12.5% and 7.5%, respectively. The 24-hour trading volume has also jumped to a staggering $57.82 billion, with a 50% rally.
In light of the current sentiment, CryptoELITES projected Bitcoin’s future journey to a new all-time high of $180,000. The analyst noted, “Bitcoin’s journey to $180,000 has officially begun!”
Bitcoin’s Dramatic Move
As pointed out by market expert Ash Crypto, Bitcoin has made a dramatic move, closing above $93,000 and breaking through all major resistance levels in a single candle. This bullish reversal has pushed the BTC price above key technical indicators like the daily 200-day and 50-day moving averages. The token has now successfully broken out of a lower-high pattern.
BOOOOOM !!!
BITCOIN CLOSED ABOVE $93,000 AND BROKE ALL THE MAJOR RESISTANCE LEVELS IN A SINGLE CANDLE.$BTC NOW
– ABOVE DAILY MA200 AND MA50 – BROKE LOWER-HIGH PATTERN – HAS BROKEN ABOVE ICHIMOUKU CLOUD . pic.twitter.com/YBrjQIGEwR
In addition, BTC has broken past the Ichimoku Cloud, a bullish indicator of a potential resurgence. This strong price action indicates a significant shift in market sentiment and potential for continued growth. According to Ash Crypto, the next immediate target of BTC is $106k.
What Drives Bitcoin Price’s Rally?
Despite its recent dip following Donald Trump’s tariff announcement, BTC has shown a bullish reversal. Notably, several factors contribute to the recent surge in the Bitcoin price. Let’s break them down here.
Paul Atkins’ Support for Bitcoin & Crypto
The crypto-friendly Paul Atkins has officially taken the helm at the US Securities and Exchange Commission (SEC). Atkins’ explicit support for Bitcoin and crypto has invoked widespread optimism, which, in turn, sparked a major rally in the BTC price.
Bitcoin ETF Inflow
After weeks of continuous outflows, Bitcoin ETFs have seen a major trend reversal, with renewed institutional interest at its peak. Marking three days of consecutive inflows, the ETF inflows surged to $936.43 million yesterday. This records a massive 146% jump from the previous day’s $381.40 million inflows.
Dollar Crash
As reported by CoinGape previously, the US Dollar’s recent crash has paved the way for Bitcoin’s bullish era. Analyst CryptoAmsterdam predicted that BTC is poised to exhibit its next uptrend, potentially breaking new highs and continuing its bullish run.
According to CoinGecko’s quarterly report, the overall crypto market cap fell 18.6% in Q1 2025. Trading volume on centralized exchanges also fell 16% compared to the previous quarter.
This report identified a few positive trends, but most of them contained at least one significant downside. Despite the market euphoria in January, recession fears are taking a very serious toll.
Crypto Suffered Heavy Losses in Q1
The latest CoinGecko report shows just how bearish the first quarter of the year has been. Although the crypto market started January with a major bullish cycle, macroeconomic factors have heavily impacted market sentiment for the past two months.
Crypto Market Cap Fell in Q1 2025. Source: CoinGecko
According to this report, crypto’s total market cap fell 18.6% in Q1 2025, a staggering $633.5 billion. Investor activity fell alongside token prices, as daily trading volumes fell 27.3% quarter-on-quarter from the end of 2024. Spot trading volume on centralized exchanges fell 16.3%, which CoinGecko at least partially attributes to the Bybit hack.
The report mostly focused on concrete numbers, but it pointed to a few specific events that impacted crypto. Markets hit a local high around Trump’s inauguration, thanks to market euphoria over possible friendly policies.
Bitcoin increased its dominance in Q1 2025, accounting for 59.1% of crypto’s total market cap. It hasn’t maintained that share of the market since 2021, symbolizing how much more stable it’s been than altcoins.
Nevertheless, BTC also fell 11.8% and was outperformed by gold and US Treasury bonds.
Bitcoin Slumps Despite Market Cap Dominance. Source: CoinGecko
ountless other areas saw similar results, but they’re too numerous to easily summarize.
That is to say, almost every quantifiable positive development came with at least one major caveat. Solana dominated the DEX trade, but its TVL declined by over one-fifth.
XRP holders now have the opportunity to claim $NIGHT tokens through the Midnight Network’s Glacier Drop event. This major airdrop promises to distribute tokens across several blockchains, including XRP Ledger. If you held XRP during the snapshot taken on June 11, 2025, you may be eligible to receive a share of the $NIGHT tokens. Eligibility
The Middle East and North Africa (MENA) region is quickly becoming a notable force in the push for global crypto adoption. With growing participation from institutions and enterprises and supportive regulations for Web3 technology, MENA is set to expand its impact.
BeInCrypto interviewed Stephan Apel, CEO of Outlier Ventures, to explore the characteristics of these tech-driven economies and their anticipated innovations.
Web3 Adoption and Market Growth
MENA has emerged as a significant center for Web3 development, facilitated by a combination of demographic, technological, and cultural factors. The region’s entrepreneurial spirit has also fostered an environment conducive to the adoption of decentralized technologies.
“The MENA market has set a standard for adopting next-gen technologies and using them to boost their economic transformation. This is especially true for Web3 technologies— the region recognised their potential early on, offering the resources needed for these projects to scale and thrive on both regional and global levels,” Apel told BeInCrypto.
Consequently, the region is witnessing an increase in startups, investors, and developers exploring Web3 and its diverse applications.
A 2024 Chainalysis report revealed that MENA was the seventh biggest crypto market worldwide. From July 2023 to June 2024, the region saw $338.7 billion in online crypto transactions, representing 7.5% of all crypto transactions globally.
Share of all cryptocurrency transaction value by region. Source: Chainalysis.
Notably, Turkey and Morocco ranked among the top 30 countries globally in crypto adoption. Turkey secured the 11th spot, while Morocco ranked 27th. These nations alone accounted for $137 billion and $12.7 billion in received cryptocurrency value, respectively.
Furthermore, the MENA region’s crypto activity is predominantly driven by institutional and professional players, as a substantial 93% of all value transferred involves transactions exceeding $10,000.
Meanwhile, Gulf Corporation Council (GCC) members have distinguished themselves through their ambitious technological initiatives.
MENA’s Strategic Shift Towards AI
The onset of artificial intelligence (AI) has prompted governments and businesses within the Middle East to acknowledge the global trend towards related advanced technologies. Countries like Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are considering their strategic position concerning this technological transformation.
According to a report by PricewaterhouseCoopers (PwC), AI could contribute up to $15.7 trillion to the global economy in 2030. The consulting firm predicts that the Middle East will bring 2% of the total global benefits, equal to $320 billion.
MENA’s pioneering role in AI development. Source: PwC.
The PwC report also indicates that Saudi Arabia will see the largest absolute gains from AI by 2030, with an estimated US$135.2 billion added to its economy, or 12.4% of GDP. In terms of GDP percentage, however, the UAE is expected to see the greatest impact, approaching 14% of its 2030 GDP. Meanwhile, for GCC states Bahrain, Kuwait, Oman, and Qatar, AI is expected to contribute 8.2% of their GDP.
Given the region’s latest initiatives and investments in AI innovation, these numbers come as no surprise.
Saudi Arabia’s AI Development Initiatives
In 2016, the Saudi Arabian government launched Vision 2030, a program to promote economic, social, and cultural diversification. Integral to this vision is a strategic shift towards artificial intelligence and data-driven innovation, a key component of the nation’s economic diversification efforts.
Saudi Arabia is making notable advancements in AI. The country aims to reduce its reliance on oil by developing advanced technology sectors through targeted investments, infrastructure development, and workforce training.
“Fueled by its Vision 2030 initiative, Saudi Arabia has already created a thriving startup ecosystem, dedicated significant investment in emerging technologies,and designed policies to attract global talent and entrepreneurship,” Apel told BeInCrypto.
The Saudi Data and Artificial Intelligence Authority (SDAIA) spearheads Saudi Arabia’s push into artificial intelligence, shaping and implementing the country’s national data and AI strategy. The National Data Bank is a cornerstone of their efforts. It is designed as a central hub for data access and analysis, facilitating AI applications across public and private sectors.
Last November, Saudi Arabia also unveiled Project Transcendence. The $100 billion investment initiative focuses on accelerating the integration of AI and advanced technologies.
Similar to its neighbor, the UAE has actively pursued AI adoption.
UAE’s AI Strategy and Investments
In 2017, the UAE launched its National Strategy for Artificial Intelligence, which aims to make the country a global leader in the field by 2031. The UAE AI and Blockchain Council oversees this strategy, which impacts sectors like education, energy, and tourism.
The UAE is already reaping the benefits of its AI initiatives. In April, Microsoft announced a $1.5 billion investment in G42, an Abu Dhabi-based technology holding company. G42 is known for its data centers and the development of Jais, a leading Arabic-language AI model.
In September, G42 and Nvidia partnered to create AI-driven solutions for improved weather forecasting. The collaboration aims to advance climate-related technologies by using Nvidia’s Earth-2 platform, which enables AI-augmented climate and weather simulations.
Three months later, Abu Dhabi-based global technological ecosystem Hub71 partnered with Google to boost startup growth in the UAE. This collaboration will bring Google’s “Google for Startups” program to Abu Dhabi, including a dedicated accelerator for Hub71 startups in 2025.
He also drew attention to the planned convergence of AI and Web3 technologies in these prominent regions.
Convergence of AI, Web3, and IoT
Integrating the Internet of Things (IoT), blockchain, and AI technologies is gaining traction among businesses in the Middle East. By combining these technologies, organizations can access new avenues for growth, increase efficiency, and create novel user experiences.
In 2018, the Dubai Airport Freezone Authority launched Dubai Blink, a platform that integrates AI, blockchain, and virtual licenses to facilitate global trade. This system enhances supply chain innovation through ‘smart commerce’ by expediting trade with a unified online platform. Furthermore, it addressed the cumbersome process of supplier identification by using AI algorithms to streamline and accelerate the validation process.
Ultimately, MENA’s proactive approach to technological advancement, coupled with its strategic focus on Web3 and AI, signals a future where the region will be a pivotal architect in shaping the digital economy.
