Key Notes
- Rising Bitcoin holdings by US entities triggered a bullish rally for the top coin.
- Shifting regulatory policies at the state and federal levels is helping to shape the adoption of BTC.
- The adoption of Bitcoin is also complemented by retail interest in the top coin.
A new report from CryptoQuant shows that investors in the United States primarily drive the recent surge in Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B price. The detailed analysis tracks how US buying behavior has influenced the market. Notably, this highlights key moments when price jumps followed increased holdings by American entities.
US Buying Activity Pushes Bitcoin Prices Higher
Data from CryptoQuant, a blockchain analytics platform, shows that the price of Bitcoin surged as more United States-based entities increased their holdings.
The chart by CryptoQuant, known as the US to the Rest Reserve Ratio, compares the amount of Bitcoin held by US investors relative to those in other parts of the world. According to the data, the chart points to key moments when American buying triggered significant upward movements in price.
Bitcoin Bull Market Led by U.S. Entities
“Last year, when U.S. entities began increasing their Bitcoin holdings, the price of Bitcoin surged significantly.” – By @t0_god
Read more ⤵️ https://t.co/POsuj0Mz5D pic.twitter.com/hn4H2Us1h0
— CryptoQuant.com (@cryptoquant_com) May 22, 2025
One of the most notable events came in early 2024, when the US Securities and Exchange Commission ( SEC ) approved Bitcoin spot ETFs. This landmark decision allowed US institutions to hold Bitcoin directly through regulated investment vehicles. Following that, the price of Bitcoin broke past $73,000.
By January 2025, Bitcoin had climbed to $94,566.59, up from $42,258 at the end of 2023. According to CryptoQuant, these price increases lined up with periods when US entities added large amounts of Bitcoin to their reserves.
It is important to add that the report noted that during these times, fewer Bitcoin units were available for trading on public exchanges. This may have contributed to the bullish momentum. Meanwhile, CoinMarketCap data shows that the largest digital asset, Bitcoin, is trading at $110,854.26 as of writing.
It is essential to note that Strategy is one of the notable firms driving Bitcoin adoption in the US. Coinspeaker noted recently that Michael Saylor’s Strategy has acquired 7,390 Bitcoin for $764 million. This brings its total holdings to 576,230 BTC amid growing Bitcoin yield.
Regulation and Policy Shift the Landscape
Beyond individual and institutional buyers, recent policy actions in the US have also fueled the current Bitcoin bull market.
In an earlier update, Coinspeaker noted that Michigan lawmakers were pushing for a state-backed crypto reserve by introducing House Bill 4087. The bill proposes allowing the state to invest up to 10% of its general and economic stabilization funds in cryptocurrencies like Bitcoin.
In addition, as of May 23, four new bills, House Bills 4510, 4511, 4512, and 4513, were introduced in the Michigan legislature. They represent a clear effort to shape the state’s approach to cryptocurrency.
Still, in March 2025, President Trump signed an executive order to establish a strategic Bitcoin reserve. According to the update, the reserve will be formed using Bitcoin, which law enforcement had previously seized in earlier investigations.
This move reiterates President Donald Trump’s administration’s increasing interest in digital assets. In contrast, the United Kingdom has taken a different path. At a financial event in London, the UK Treasury Secretary stated that there are no plans to establish a national crypto reserve .
This difference in strategy highlights how the US is currently taking a more active role in shaping the future of cryptocurrency investment.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
