Bitcoin Steady at $88K Following Saylor's $555M Coin Purchase

Image Credit: Reuters

Bitcoin saw a slight uptick on Tuesday, as market sentiment settled after a holiday-driven rally fueled by increased purchases from Michael Saylor’s Strategy. Meanwhile, traders were also processing U.S. President Donald Trump’s mounting criticism of the Federal Reserve.

Despite some optimism in the Bitcoin market, broader investor sentiment remained cautious, with concerns about the economic fallout from Trump’s trade tariffs amid the ongoing U.S.-China trade war.

The wider cryptocurrency market saw a pullback on Tuesday, after Bitcoin’s surge through the Good Friday and Easter holidays. Bitcoin benefited from Strategy’s continued purchasing, adding more Bitcoin to its reserves.

Bitcoin gained 0.7%, reaching $88,194.9 by 01:33 ET (05:33 GMT).

Saylor’s Strategy Buys More Bitcoin

Strategy (NASDAQ: MSTR), the largest corporate Bitcoin holder, acquired 6,556 BTC for approximately $555.8 million, as per a filing on Monday. This brings the company's total Bitcoin holdings to 538,200 coins, funded by stock offerings—a method that has primarily supported its Bitcoin acquisitions.

While this additional buying activity from Strategy gave Bitcoin a boost, the cryptocurrency was still reeling from a decline since its peak earlier this year. Bitcoin remains down 5.6% in 2025, as market sentiment has been unsettled by uncertainty surrounding Trump’s policies.

Earlier in April, Strategy had disclosed a nearly $6 billion unrealized loss on its Bitcoin holdings, an announcement that unsettled the broader crypto market.

Crypto Prices Slide Amid Trump-Fed Tensions

Broader cryptocurrency prices retreated on Tuesday, trailing Bitcoin’s gains in recent sessions. Investor sentiment remained weak, influenced by the ongoing U.S.-China trade dispute and growing tensions between Trump and the Federal Reserve. Over the weekend, Trump escalated his criticism of Fed Chair Jerome Powell, urging him to lower interest rates “preemptively” to avoid harming economic growth.

Trump’s comments stoked fears about the Fed's independence, with reports indicating he may be looking to remove Powell before his term ends in May 2026. Powell, however, has maintained that the Fed will not cut interest rates soon and intends to complete his full term.

Ethereum, the second-largest cryptocurrency, dropped nearly 4% to $1,584.52, while XRP fell 2.4% to $2.0790. Solana and Cardano also saw declines of 1% and 2.6%, respectively. However, Polygon rose nearly 7%.

In the meme coin sector, Dogecoin lost 0.3%, while $TRUMP dropped 0.4%.

 

 

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