BTC Price Pulls Back After Recent ATH Despite New Bitcoin Reserve Announcements: Weekly Recap

It was somewhat expected that, after weeks and weeks of charting gains and a recent all-time high, bitcoin’s price would eventually retrace, which transpired in the past few days.

But first, let’s go back to the historic events of last week when the primary cryptocurrency, following four months filled mostly with struggles due to global economic uncertainty, broke its January 2025 all-time high and set a new one at almost $112,000 on Pizza Day (May 22).

Since then, though, the asset has been unable to maintain its recent run. At first, it was the latest tariffs recommended by US President Trump, this time solely against the EU, that pushed BTC south by several grand. Although Trump later suspended the tariffs for over a month, this failed to impact the cryptocurrency’s price to a large extent.

It jumped to over $110,000 on a couple of occasions during the business week, but to no avail as each attempt was met with immediate resistance and rejection. The past 24 hours have been particularly painful, as BTC was stopped once again at $109,000 and drove south to a weekly low of under $105,000.

There are some speculations within the community that this was intentionally done to liquidate a certain high-end trader, but the fact is that bitcoin’s price has slumped by over 2% on a weekly scale, even though it has recovered some ground to $105,500 as of press time.

Still, its price decline is a lot less painful than those of DOGE, SOL, ADA, SUI, LINK, and AVAX. The meme coin leads this adverse trend with a substantial 8% weekly drop.

Market Data

Market Cap: $3.445T | 24H Vol: $142B | BTC Dominance: 60.9%

BTC: $105,630 (-2%) | ETH: $2,590 (-2.9%) | XRP: $2.18 (-4.3%)

This Week’s Crypto Headlines You Can’t Miss

SEC Drops Lawsuit Against Binance in Landmark Decision. The new leadership at the US SEC continues to drop cases that the former started years ago, and the latest to benefit from the internal changes at the agency is Binance. The Commission has officially dismissed its lawsuit against the exchange giant.

Telegram in Limbo Over $300M xAI Deal – What’s The Holdup? One of the big news this week in the overall cryptocurrency/AI industry was related to a potential deal between Pavel Durov’s messaging giant and Elon Musk’s xAI. However, the latter said the deal has not been signed yet, and Durov confirmed. Later, reports emerged that Telegram had raised $1.7 billion for a debt swap.

BlackRock Bitcoin ETF Sees 33-Day Inflow Run, $4B in Past Fortnight. CryptoPotato reported earlier this week that the world’s largest Bitcoin ETF – BlackRock’s IBIT – had registered a massive streak of 33 consecutive days of positive flows. Since then, the streak has only grown as IBIT continues to outperform all other BTC ETFs.

100 Million People Will Own BTC Soon: JD Vance at Bitcoin 2025. The biggest Bitcoin-focused conference of the year also took place this week in Las Vegas, and arguably the most notable name to take the center stage was the current Vice President of the United States. In his speech, JD Vance highlighted BTC’s potential and said 100 million people will soon own portions of it.

GameStop Joins Strategy and Buys Over $500 Million Worth of Bitcoin. As the title of this Market Update says, new players on the BTC acquisition front emerged this week. After raising $1.5 billion almost two months ago, GameStop announced its first bitcoin purchase for over $500 million. The European football giant PSG also said it has been quietly accumulating BTC.

Donald Trump Jr. Unveils $2.5B Bitcoin Moon Shot at Vegas Conference. Another entity jumping on the BTC bandwagon was Trump-linked TMGT. According to Donald Trump Jr, who also appeared at the conference, the media giant is “literally creating a Bitcoin treasury to the tune of $2.5 billion.”

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Hype, and Solana – click here for the complete price analysis.