After disclosing its treasury ambitions, Strive Asset Management has taken the first real steps to acquire Bitcoin (BTC). The company has announced a $750 million private investment to power its Bitcoin accumulation plans. Rather than blindly stacking Bitcoin, Strive Asset Management will leverage alpha-generating strategies in its Treasury operations. Strive Asset Management Raises $750M For Bitcoin Purchases Vivek Ramaswamy’s Strive Asset Management and Asset Entities have unveiled plans to become a leading force in Bitcoin accumulation. According to an X post, the company has announced a $750 million raise via private investment from a coalition of undisclosed VC firms. While details are under wraps, Strive Asset Management says the capital injection will support the company’s “first wave of Bitcoin accumulation.” Moreover, the tweet from Strive reveals additional plans to raise as much as $1.5 billion from private investment via warrant exercise. Strive Asset Management and Asset Entities (Nasdaq: ASST) announce… Read More at Coingape.com
Bitcoin surged past $94,000 on April 23 as Trump’s China tariff shift lifted stocks and improved overall market sentiment
Why is Bitcoin (BTC) is going up today after Trump’s latest comments on China tariffs?
Bitcoin (BTC) rose sharply on April 23, extending its rally above the $94,000 mark amid broad gains across U.S. equity markets.
The move followed dovish comments from US President Donald Trump regarding U.S.-China trade relations. According to reports, Trump is in talks to negotiate a deal to cut tariffs on China as low as 50%, , which appeared to boost investor sentiment.
The S&P 500 gained 93 points, moving 1.77% higher to 5,375.86, with Big Tech stocks leading the rally at press time on Thursday.
US stocks Heatmap | Source: TradingView
Big Tech was the primary driver of the equity market’s upside momentum. Microsoft gained 2.78%, Alphabet added 1.94%, and Meta rose 1.77%. Nvidia outperformed with a 3.21% increase, while Apple climbed 1.05%.
Amazon shares advanced 2.39%, reflecting recovering confidence among investors after tariff pressures saw the AI giant, book a $5.5 billion charge last week.
The market response reflected a shift toward risk-on positioning, prompted by Trump’s softened stance on tariffs. This rhetoric was interpreted by traders as a sign of reduced trade tensions and improved macroeconomic visibility.
Bitcoin price action | Coingecko
However, despite the day’s gains, BTC price was unable to breach the key $95,000 resistance, a level seen by market participants as a psychological limit.
While bullish momentum remains intact, the inability to sustain a move above this level suggests cautious stance and early profit-taking.
What’s next?
With Bitcoin price approaching a major psychological threshold, traders are watching closely for a decisive breakout above $95,000. A sustained move could open the door to $98,000 or higher. However, renewed macro volatility or stronger-than-expected inflation could trigger profit-taking, with key support levels seen near $91,000 and $88,500.
Investors are also eyeing Trump’s upcoming policy announcements for further clues on U.S.-China economic direction.
Bitcoin price forecast today points to a cautiously optimistic outlook, with bulls setting sights on the $96,800 level following a decisive breakout above key moving averages.
After peaking at $93,787, BTC/USD pulled back slightly but remains structurally strong above its 50-day ($84,398), 100-day ($90,852), and 200-day ($88,699) simple moving averages.
Bitcoin Price Forecast Today
The recent breakout was accompanied by a sharp rise in the Bull and Bear Power (BBP) indicator, which has flipped to its highest positive reading since mid-January, currently at +10,046.19. This shift suggests growing bullish conviction among traders. Despite the minor intraday retracement, Bitcoin continues to consolidate above former resistance, now turned support near $90,000.
A sustained move above $94,000 would likely clear the path to $96,800, a key psychological and Fibonacci extension target. However, failure to hold the 100-day SMA could invite profit-taking, dragging BTC back toward the $88,500 area. For now, momentum favors bulls, with the trend showing signs of sustained accumulation.
Arizona has moved closer to establishing the first Bitcoin reserve at the state level in the United States. Lawmakers passed two key bills allowing up to 10% of public funds to be invested in Bitcoin and other digital assets. The bills now await the signature of Governor Katie Hobbs to become law.
On April 28, the Arizona House of Representatives voted on Senate Bill 1025 (SB1025) and Senate Bill 1373 (SB1373). SB1025, which amends state statutes to permit a strategic Bitcoin reserve, passed with 31 votes in favor and 25 against. SB1373, which proposes a broader digital asset reserve, passed with 37 votes in favor and 19 opposed.
State Representative Jeff Weninger explained that the bill provides authority to invest up to 10% of public funds in Bitcoin and potentially other cryptocurrencies. “I think this probably would start as a ‘may’ for the foreseeable future,” Weninger said during discussions.
Arizona’s bills place it ahead of several other U.S. states considering similar legislation. If signed into law, Arizona could become the first state to formally hold Bitcoin as a strategic asset despite criticism from economists like Peter Schiff.
Governor’s Decision Will Determine Final Outcome
Democrat Governor Katie Hobbs has earlier on declared her position as being against any bill signing until a solution on disability funding was reached by the two chambers. Nevertheless, with the recent development on the funding legislation, she has been under pressure to pass the Bitcoin reserve bills.
According to Dennis Porter, the CEO of the Satoshi Action Fund, the American voters should convince their leaders to hold strategic Bitcoin reserves. Porter underlined the need to continue the process as the legislations have passed through different legislative processes.
ARIZONA JUST BECAME THE FIRST STATE IN THE NATION TO PASS STRATEGIC BITCOIN RESERVE LEGISLATION IN THE HOUSE AND SENATE.
A decision from Governor Hobbs will be necessary for the legalization of Bitcoin in managing and investing the state’s funds in Arizona. Some pundits explain that investing in Bitcoin offers protection from inflation and other macroeconomic factors.
Elsewhere, the Chairman of the Swiss National Bank, Martin Schlegel said that Switzerland will not invest in Bitcoin as a reserve currency. Schlegel provided a number of arguments against the use of Bitcoin for long-term reserves, including crisis-related liquidity issues and high volatility.
Global Trends on Government Bitcoin Holdings
Arizona’s legislative push comes at a time when global government Bitcoin holdings are declining. According to a CoinGecko report published in April 2025, governments’ collective Bitcoin reserves dropped from 529,591 BTC in July 2024 to 463,741 BTC.
The U.S. remains the largest government holder with 198,012 BTC, despite recent asset liquidations. China follows with 194,000 BTC, primarily from the 2019 PlusToken Ponzi scheme seizures. The United Kingdom holds around 61,000 BTC, mostly acquired through criminal seizures, while Bhutan has mined its way to 8,594 BTC.
El Salvador continues its Bitcoin accumulation policy under President Nayib Bukele. The country now holds 6,135 BTC, with Bukele announcing daily purchases of Bitcoin for the national reserve.
Meanwhile, at the corporate level, MicroStrategy announced a new acquisition of 15,355 BTC for $1.42 billion. The company’s total Bitcoin holdings now stand at 553,555 BTC, valued at approximately $52.76 billion.
According to a CoinGecko report, meme coins were the most popular crypto trend in 2024. They accounted for 14.3% of total narrative interest—a significant rise from 8.3% in 2023.
Recent developments, however, present a contrasting narrative.
“There has been a significant drop in meme coin market cap since December. It’s the weakest narrative and not worth putting your money in it,” an analyst wrote on X.
As of March 5, the latest data showed the total meme coin market capitalization plummeted to $54 billion. This represented a 56.8% decline from its $125 billion peak on December 5, 2024.
Trading volumes have also taken a hit, dropping 26.2% in the past month alone. This has raised concerns about the “meme coin supercycle.”
“Is this the end of the meme coin supercycle?” crypto analyst Lark Davis questioned.
A meme coin supercycle refers to an extended period of rapid growth and speculation in meme-based cryptocurrencies. However, with declining numbers across the board, the community is now grappling with fears that the hype may be fading for good.
The second-largest meme coin, Shiba Inu (SHIB), has also suffered a substantial drop. Over the past month, it has slipped 10.6%. Similar trends have been observed in all 10 top meme coins.
The decline isn’t just affecting individual tokens—skepticism in meme coins as a whole appears to be rising. Elon Musk, for example, one of the most vocal supporters of DOGE, recently likened meme coins to “casinos.” He further cautioned against investing life savings in them. Meanwhile, Bitwise CIO Matt Hougan previously stated that the present time is the “end of the meme coin boom.”
Google Trends data further supports this waning hype. The search volume for “meme coin” has plummeted from a peak score of 100 in mid-January to just 8 last week. This suggested that public enthusiasm was fading as fast as it surged.
The impact of this downturn is being felt across the ecosystem, particularly on platforms that thrived during the meme coin mania.
Pump.fun, a popular meme coin launchpad, has seen its trading volume crash from $3.3 billion in January 2025 to just $814 million. This marked aa staggering 75.3% drop.
