US Investors Drive Bitcoin Bull Market According to CryptoQuant Report
A report from CryptoQuant indicates that recent Bitcoin price increases are primarily driven by US investors. Key findings include:
- US entities significantly increased their Bitcoin holdings, correlating with notable price surges.
- The US to the Rest Reserve Ratio chart tracks Bitcoin held by US investors versus global counterparts.
- In early 2024, the SEC approved Bitcoin spot ETFs, facilitating institutional investments and pushing Bitcoin prices above $73,000.
- By January 2025, Bitcoin reached $94,566.59, rising from $42,258 at the end of 2023, influenced by US buying activity.
- Decreased Bitcoin availability on exchanges contributed to bullish momentum.
- As of now, Bitcoin trades at $110,854.26.
- Michael Saylor's Strategy recently acquired 7,390 Bitcoin for $764 million, raising its total to 576,230 BTC.
- Michigan lawmakers are proposing a state-backed crypto reserve and new legislation to promote cryptocurrency investment.
- President Trump signed an executive order in March 2025 to create a strategic Bitcoin reserve using seized assets.
- This contrasts with the UK's more cautious approach towards cryptocurrencies, as stated by the UK Treasury Secretary.