Key moments

• Bitcoin’s price surged by 2.13%, reaching $84,300.
• Cardano and Dogecoin also saw notable increases, climbing 2.71% and 3.78%, respectively.
• Tether has added 8,888 BTC to its Bitcoin holdings, with the purchase amounting to $735M.

Bitcoin Gains Momentum, Altcoins Follow Suit

Bitcoin demonstrated a notable recovery on Tuesday, climbing 2.13% to reach $84,300 during a rebound from the figures observed earlier today when Bitcoin was trading below $82,500. Bitcoin’s upward movement has been accompanied by gains in other cryptocurrencies, with Cardano (ADA) rising by 2.71% and Dogecoin (DOGE) increasing by 3.78%, reflecting a broader positive trend in the cryptocurrency market.

The resurgence follows a period of volatility where Bitcoin, after approaching $89,000 last Wednesday, experienced a persistent downturn that saw the asset plummet to $81,200. Adding today’s positive momentum, the blockchain analytics platform Spot On Chain revealed that USDT-issuer Tether purchased 8,888 Bitcoin during Q1 2025. This acquisition has boosted Tether’s total Bitcoin reserves to $7.8 billion, landing Tether among the six largest Bitcoin holders.

Fidelity analysts have also contributed to the optimistic outlook, forecasting that Bitcoin is due for an “acceleration phase.” According to their research, Bitcoin’s current price pattern suggests it is approaching its next growth height. Fidelity’s analysis further emphasizes that institutional support and favorable market conditions are setting the stage for a major surge, despite recent volatility.

However, many investors remain cautious. Bitcoin’s prices fell by 12% in 2025’s first quarter, and traders continue to monitor market conditions in anticipation of the upcoming “Liberation Day,” when U.S. President Donald Trump is planning to implement major tariff policies. As Bitcoin’s prices have historically been affected by the condition of traditional markets, Wednesday could spell a period of volatility for Bitcoin and altcoins alike.