Bitcoin is currently at $108,410, down 3.1% in the last 24 hours, as traders weigh new macroeconomic developments against long-term predictions. Speaking at the Bitcoin Asia Conference in Hong Kong, Eric Trump stated that Bitcoin would reach $1 million, citing two primary reasons: the fixed 21 million supply and increasing institutional demand.
He also mentioned China’s growing role in digital assets, despite the mainland’s retail ban on these assets. He pointed to the development of yuan-backed stablecoins, while Hong Kong has passed a stablecoin bill to solidify its position as a global crypto hub.
And another Trump-linked mining venture is going to list on Nasdaq, so he said his family is “all in” on this community.
Amdax Pushes to Secure 1% of Bitcoin Supply
Institutional accumulation is also accelerating in Europe. Dutch crypto firm Amdax raised $23.3 million to launch its new treasury vehicle, AMBTS, which aims to eventually acquire 210,000 BTC — nearly 1% of Bitcoin’s total supply. At today’s prices, that goal equates to more than $23 billion in Bitcoin holdings.
The company plans to expand through additional funding rounds and a potential IPO on Amsterdam’s Euronext exchange. This echoes the strategy pioneered by Michael Saylor’s Strategy (formerly MicroStrategy), which turned corporate treasuries into one of Bitcoin’s largest demand engines.
Other global firms, including Tesla, MercadoLibre, Rumble, Sequans, and Metaplanet, have also expanded their Bitcoin purchases. More players enter the market, supply on exchanges gets tighter, price goes up.
Strategy Clears Lawsuit, Strengthens Position
Strategy, the largest corporate Bitcoin holder, wins a legal battle. A lawsuit accusing the company of misrepresenting investors about new fair-value accounting rules was dismissed with prejudice, removing a big overhang.
The firm can now focus entirely on expanding its $68 billion Bitcoin treasury, which accounts for more than 3% of the circulating supply. Analysts view this as a significant confidence booster for the company and the market as a whole, as it removes a layer of legal uncertainty that has been weighing on sentiment this year.
Bitcoin Price Prediction – Technical Outlook
Technically, Bitcoin is still in a descending channel since mid-August, with support at $108,400 and resistance at $111,000. The RSI sits around 30, brushing oversold territory, while the MACD histogram remains negative, confirming that bears still have the upper hand.
A breakout above $111,000 could flip momentum, paving the way toward $113,650 and $116,850, with the next target at $120,250. On the other hand, failing to hold $107,800 risks deeper losses, potentially reaching $105,150 and $101,500 at the channel floor.
For traders, the play is simple: bullish above $111,000, bearish below $107,800. Long-term institutional demand and corporate treasuries will keep Bitcoin as digital gold, so $130,000 is in sight once this consolidation is over.
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By combining Bitcoin’s unmatched security with Solana’s high-performance framework, the project opens the door to entirely new use cases, including seamless BTC bridging and scalable dApp development.
The team has put strong emphasis on trust and scalability, with the project audited by Consult to give investors confidence in its foundations.
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