Financial Insights That Matter
See our full XRP forecast here.
MicroStrategy’s Bitcoin Acquisition Reinforces BTC Sentiment
XRP’s gains coincided with bitcoin’s (BTC) return to $95,000, driven by news of MicroStrategy (MSTR) increasing its BTC holdings.
MicroStrategy Chairman Michael Saylor announced on X (formerly Twitter):
”MSTR has acquired 15,355 BTC for ~$1.42 billion at ~$92,737 per bitcoin and has achieved BTC Yield of 13.7% YTD 2025. As of 4/27/2025, we hodl 553,555 BTC acquired for ~$37.90 billion at ~$68,459 per bitcoin.”
MSTR’s share price rose 0.15% to $369.25 on April 28, while Coinbase (COIN) and the Nasdaq Composite Index dropped 2.08% and 0.10%, respectively.
Market intelligence platform Santiment highlighted that retail traders remain optimistic, stating:
“As Bitcoin has risen as high as $95.5k on Monday, retail traders continue to show confidence in crypto markets. Across social media, mentions of higher BTC predictions are greatly exceeding mentions of lower BTC predictions.”
Santiment added:
“Historically, bullish traders want to see most of the crypto community betting against crypto. After the major rally last week, this has shifted retail toward greed once again, with meme coins and other speculative assets being prioritized.”
US BTC-Spot ETF Market Faces Outflows
Significantly, MicroStrategy’s sizeable purchase offset US BTC-spot ETF outflows. According to Farside Investors, key flows for April 28 included:
- ARK 21Shares Bitcoin ETF (ARKB) saw net outflows of $226.3 million.
- Fidelity Wise Origin Bitcoin Fund (FBTC) had net outflows of $86.9 million.
- Grayscale Bitcoin Trust (GBTC) and Bitwise Bitcoin ETF (BITB) reported net outflows of $42.7 million and $21.1 million, respectively.
Excluding pending data for BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), US BTC-spot ETF issuers reported $379.7 million in net outflows. Without a significant inflow from IBIT, the spot ETF market risks snapping its six-day inflow streak.
BTC Price Outlook: Key Catalysts Ahead
Despite ETF outflows, BTC rose 1.29% on April 28, reversing Sunday’s 0.99% loss, closing at $95,011. BTC held onto the $95k handle for the first time since February 23.
BTC’s near-term price trajectory will likely hinge on several catalysts.
- Bearish Scenario: An escalation in the US-China war, a hawkish Fed stance, weak US economic indicators, legislative resistance, and ETF outflows.
- Bullish Scenario: A de-escalation in trade tensions, a dovish Fed stance, positive US data, pro-crypto legislation, and ETF inflows.
One major legislative development to watch is the progress of the Bitcoin Act, reintroduced by Senator Cynthia Lummis. The bill proposes that the US government acquire one million BTC over five years, with a 20-year lock-up period. If passed, this bill could trigger a significant rally in BTC.
On April 28, CryptoAmerica host and journalist Eleanor Terrett reported on BTC’s status as a reserve asset, stating:
“Arizona becomes the first US state to pass a BTC reserve bill that allows for up to 10% of public funds to be invested in virtual currencies like Bitcoin. The bill will still need to pass Democratic Governor Katie Hobbs’ desk in order to be signed into law.”
If Governor Hobbs signs the bill, it could raise hopes of Congress passing the Bitcoin Act.
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