- Bitcoin climbed above $87,700, driven by a softer US dollar and the prospect of US Treasury buybacks.
- Arthur Hayes warns those buybacks could act like a “bazooka,” potentially pushing BTC past $100,000 (“last chance” noted below).
- The dollar’s weakness (its lowest level since March 2022) and a rising correlation with gold are reinforcing Bitcoin’s appeal.
Bitcoin’s recent advance—briefly topping $87,700—has attracted significant attention as analysts point to macroeconomic shifts and potential government actions that could drive the cryptocurrency well beyond the $100,000 mark.
With the US dollar weakening, talk of Treasury debt buybacks, and steady institutional demand, the outlook for Bitcoin looks increasingly bullish.
Macro tailwinds: dollar softens, Treasury “bazooka” on the radar
One major factor supporting Bitcoin’s rise is the decline in the US dollar, which recently hit levels not seen since March 2022. A weaker dollar often leads global investors to seek alternative stores of value, and Bitcoin becomes more attractive in that environment.
Compounding this dynamic is the possibility of the US Treasury repurchasing its own debt. Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, has emphasized that such buybacks could introduce substantial liquidity into markets. Hayes described the move as a potential “bazooka” for asset prices and suggested it might represent the “last chance” to buy Bitcoin below $100,000, arguing that these buybacks could easily push BTC past that psychological threshold.
Technical signals and institutional confidence strengthen the case
Technical analysis and continued institutional involvement are reinforcing the bullish narrative. Ryan Lee, Chief Analyst at Bitget Research, observed that Bitcoin recently completed a descending wedge breakout—a pattern often interpreted as supportive of further upward movement.
That technical outlook is bolstered by Bitcoin’s increasing correlation with gold, a traditional safe-haven asset that has climbed nearly 30% year-to-date. At the same time, reports show sustained institutional investment from firms in regions such as Japan and the UK, signaling ongoing confidence in Bitcoin’s long-term value proposition.
Analysts set six-figure targets amid expanding fiat supply
As Bitcoin challenges resistance near $90,000, several analysts are projecting considerably higher targets. Jamie Coutts of Real Vision argues that growth in the fiat money supply (M2) could propel Bitcoin toward $132,000 by year-end. Economist Timothy Peterson offers a more aggressive near-term forecast, suggesting BTC might reach roughly $138,000 within the next three months based on historical market behavior.
Political pressures may amplify market moves
Political developments are also influencing expectations. Public calls from President Donald Trump for the removal of Federal Reserve Chair Jerome Powell have heightened speculation about potential interest rate reductions. If policymakers do lower rates to stimulate growth, the resulting downward pressure on the dollar could create a more favorable backdrop for Bitcoin appreciation.
Words of caution amid optimism
Despite the confluence of supportive factors, some market participants urge caution on short-term price moves. Analyst Michaël van de Poppe warned that weekend rallies can be fleeting and that Bitcoin may experience a pullback before overcoming key resistance levels. The $91,000 area is widely viewed as the next meaningful hurdle, and until Bitcoin secures a sustained position above that level, the risk of short-term corrections persists.
Still, the combination of a weakening dollar, the prospect of Treasury buybacks injecting liquidity, steady institutional inflows, and encouraging technical patterns forms a persuasive case for Bitcoin’s continued ascent toward—and potentially beyond—the $100,000 milestone.