Bitcoin climbed above $85,000 for the first time in three weeks on Friday, propelled by renewed institutional buying, improving macro sentiment following a partial rollback of US tariffs, and a strengthening narrative around Bitcoin as a global store of value.
The move came after news broke that the Trump administration had agreed to a 90-day suspension of tariffs on semiconductor imports — sparking a broad risk-on rally across equities and crypto. The total digital asset market capitalization jumped $180 billion in a single day.
“Bitcoin is benefiting from its dual narrative — both as a risk asset and as a safe-haven alternative to weakened fiat currencies,” said macro analyst Jeff Park at Bitwise Asset Management.
On-chain data showed whale wallets added approximately 14,200 coins during the week — the largest seven-day accumulation event since October 2023. US spot Bitcoin ETFs took in $620 million in a single day, their strongest daily number in six weeks. Options markets shifted bullish for the first time since February.
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