Bitcoin Steadies Near $88K Amid Mt. Gox Transfers and ETF Momentum

Bitcoin traded around $88,000 on Tuesday, holding recent gains fueled by optimism over U.S. trade policy and large Bitcoin transfers by defunct exchange Mt. Gox. The world’s top cryptocurrency edged 0.1% lower to $88,167.5 by 5:00 p.m. ET, with analysts eyeing $90,000 as key resistance.

Lingling Jiang of DWF Labs said Bitcoin’s chart shows “a technically and fundamentally supported bottoming pattern,” suggesting the uptrend could continue. Meanwhile, Mt. Gox moved over 11,000 Bitcoins—worth nearly $1 billion—to new wallets, sparking speculation about potential sell-offs. However, the market reaction remained calm, possibly due to the extended repayment deadline for Mt. Gox creditors, now set for October 31, 2025.

Investor sentiment also improved following reports that U.S. President Donald Trump’s April 2 tariff rollout will target select countries, easing fears of broad trade disruptions. This perceived restraint has boosted risk assets, including cryptocurrencies.

In major developments, Trump Media & Technology Group partnered with Crypto.com to launch Truth.Fi ETFs focused on Bitcoin, Cronos (CRO), and U.S.-based industries. The move signals growing crypto adoption in traditional finance.

Additionally, BlackRock expanded its crypto offerings in Europe, launching the iShares Bitcoin ETP under the tickers “IB1T” and “BTCN” across multiple exchanges. The fund is physically backed with Bitcoin held in cold storage by Coinbase Custody.

Altcoins showed mixed performance. Ethereum dipped 0.5% to $2,071.47, while XRP inched down 0.01% to $2.46. Solana gained 2.7%, Cardano rose 2%, and Polygon advanced 3.6%. Meme coin Dogecoin jumped 3.4%, but $TRUMP fell 2.3%.

With a mix of bullish signals and market caution, crypto traders are closely watching Bitcoin’s next move as macro and institutional developments unfold.