Bitcoin Soars to $97,400 as Crypto Markets Rally and Big Banks Join In

Bitcoin Surges Past $97,400 as Crypto Banking Initiatives Expand

According to Investor's Business Daily, Bitcoin prices have experienced a significant upward trend this week, with the cryptocurrency recovering to above $97,400 on Thursday. This surge comes amid a broader push for crypto banking, as major financial institutions like Morgan Stanley reportedly plan to add cryptocurrency trading to their E*Trade platform. Additionally, SoFi has announced intentions to reintroduce crypto investing for its clients.

Despite the positive momentum in Bitcoin's price, Strategy, a notable Bitcoin holder, missed its earnings expectations late Thursday. However, the company raised its outlook for Bitcoin gains this year, reflecting optimism about the asset's future performance. The article also highlights that Bitcoin's price was unmoved by the introduction of a new U.S. crypto reserve, though some analysts believe the so-called "flywheel effect" could eventually impact the market.

Asset	Recent Price
Bitcoin	$97,400

Morgan Stanley aims to add crypto trading to E*Trade.
SoFi plans to bring back crypto investing.
Strategy raises its Bitcoin gain outlook for the year.

Summary: Bitcoin has surpassed $97,400, driven by renewed interest from major financial institutions and positive outlooks from key market players, as reported by Investor's Business Daily.

Crypto Markets Rebound After Early Declines, Bitcoin Holds at $94,700

CoinDesk reports that the cryptocurrency market rebounded alongside U.S. stocks on Wednesday, following an initial 2% drop in major U.S. stock averages due to underwhelming economic data. Bitcoin narrowed its decline to just 0.4%, trading at $94,700 shortly after the U.S. stock market closed. At one point, Bitcoin was down nearly 2% in tandem with the broader market's early losses.

Altcoins and crypto equities experienced more pronounced declines. The CoinDesk 20 index fell 2% over the last 24 hours, with litecoin (LTC), ripple (XRP), avalanche (AVAX), and chainlink (LINK) each dropping around 4%. Bitcoin miner Hut 8 (HUT) notably underperformed, falling 5.7%. Despite the volatility, most of the crypto market continued to trade within a tight range for the week.

Asset	24h Change	Price
Bitcoin	-0.4%	$94,700
CoinDesk 20	-2%	-
Hut 8 (HUT)	-5.7%	-

Altcoins like LTC, XRP, AVAX, and LINK dropped about 4%.
U.S. stock indices recovered much of their early losses by the close.

Summary: The crypto market showed resilience, with Bitcoin stabilizing at $94,700 after early declines, while altcoins and crypto equities faced steeper losses, according to CoinDesk.

Bitcoin Approaches $95,000: Altcoins Show Strength in 2025

As reported by The Economic Times, Bitcoin is nearing the $95,000 mark, sparking speculation about whether it will soon reach $100,000. Ethereum and XRP have demonstrated consistent growth, while emerging cryptocurrencies such as Solana and Chainlink are attracting increased attention from investors. The article explores the factors driving Bitcoin's rise and the steady performance of other major cryptocurrencies in 2025.

Bitcoin is close to $95,000, with market watchers eyeing the $100,000 milestone.
Ethereum and XRP continue to show stable growth.
Solana and Chainlink are gaining traction among investors.

Summary: Bitcoin's approach to $95,000 and the robust performance of Ethereum, XRP, Solana, and Chainlink highlight a strong start for cryptocurrencies in 2025, as detailed by The Economic Times.

Crypto Industry Gathers in Dubai as U.S. Political Optimism Fades

Reuters reports that the global crypto industry has converged in Dubai for a major event, even as the initial euphoria surrounding former President Trump's impact on the sector has diminished. Attendees at the Dubai event expressed mixed feelings about Trump's influence, while the United Arab Emirates continues to solidify its position as a growing hub for cryptocurrency activity.

Crypto enthusiasts and industry leaders are meeting in Dubai.
Sentiment about Trump's impact on the sector is mixed.
The UAE is strengthening its role as a global crypto hub.

Summary: The crypto industry's focus has shifted to Dubai, with the UAE emerging as a key player, while optimism about U.S. political support for crypto has waned, according to Reuters.

Bitcoin Edges Up Despite U.S. Recession Fears and GDP Contraction

According to Yahoo, Bitcoin managed to climb by around 1% on Thursday, hovering near the $95,000 mark, even as new data revealed that the U.S. economy contracted by 0.3% in the first quarter. This marks the first economic contraction since Q1 2022 and has heightened fears of a potential recession. The overall crypto market cap remains consolidated near $3 trillion, reflecting a period of sideways trading after recent volatility.

Spot Bitcoin ETFs saw an outflow of $56 million on Wednesday, ending an eight-day streak of inflows totaling nearly $3 billion. Altcoins largely mirrored Bitcoin's muted performance, with Ethereum up 1%, BNB up 0.5%, and Solana up 2.4%. XRP and Cardano both dipped about 0.5%, while Dogecoin increased by 1.5%.

Asset	24h Change
Bitcoin	+1%
Ethereum	+1%
BNB	+0.5%
Solana	+2.4%
XRP	-0.5%
Cardano	-0.5%
Dogecoin	+1.5%

Spot Bitcoin ETFs saw $56 million in outflows after $3 billion in inflows over eight days.
U.S. GDP contracted by 0.3% in Q1, reversing 2.4% growth in Q4 2024.

Summary: Bitcoin's resilience near $95,000, despite U.S. recession fears and ETF outflows, underscores the market's cautious optimism, as reported by Yahoo.

Ethereum Prepares for Major User Experience Overhaul

Decrypt highlights that Ethereum is set for a significant user experience overhaul with the introduction of new interoperable address standards. At the time of reporting, Ethereum was priced at $1,843.44, while Bitcoin stood at $96,995.00. Other notable cryptocurrencies included XRP at $2.23, BNB at $599.98, and Solana at $150.30.

Cryptocurrency	Price
Bitcoin (BTC)	$96,995.00
Ethereum (ETH)	$1,843.44
XRP	$2.23
BNB	$599.98
Solana (SOL)	$150.30

Ethereum is implementing new address standards to improve interoperability and user experience.
Major cryptocurrencies continue to trade at elevated levels.

Summary: Ethereum's upcoming address standard overhaul aims to enhance user experience and interoperability, with the platform and other major cryptocurrencies maintaining strong price levels, according to Decrypt.

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