Bitcoin Eyes $119K as Institutions Scoop Up 28K BTC in Just 48 Hours

Market Recap: Fed Uncertainty Replaced by Bitcoin Reserve Optimism

Bitcoin’s price swiftly recovered from a post-Fed dip on Thursday, rallying nearly 3% to target the $119,000 mark. The surge followed fresh comments from the White House reaffirming plans for a U.S. strategic Bitcoin reserve, overshadowing the hawkish tone from the Federal Reserve’s latest FOMC meeting.

• BTC/USD: Currently trading at $118,603, up from Wednesday’s local low

• BTC Bought by Treasuries: ~28,000 BTC in 48 hours

• Institutional Net Buying: Hits 97% of transactions — highest since August 2020

BTC/USD 1-hour chart. Source: TradingView

Related: Bitcoin Eyes $150K Surge as Trump’s ‘Big Beautiful Bill’ Nears Signing

Federal Reserve Stays Hawkish — But Bitcoin Doesn't Flinch

The Federal Open Market Committee (FOMC) maintained interest rates at their current levels, with Fed Chair Jerome Powell offering no new guidance on potential rate cuts. Market participants had hoped for a dovish tilt, but Powell reiterated that inflation remains "somewhat elevated" and that labor market conditions remain strong.

“The unemployment rate remains low, and labor market conditions remain solid,” Powell said.

The market quickly priced in the Fed’s cautious stance, with the CME FedWatch Tool now projecting a strong likelihood of rates remaining unchanged through September.

Fed target rate comparison for September FOMC meeting (screenshot). Source: CME Group

Strategic Bitcoin Reserve Back in the Spotlight

Just hours after Powell’s press conference, Bo Hines, Executive Director of the U.S. President’s Council of Advisers on Digital Assets, made headlines by reaffirming the administration’s plan for a strategic Bitcoin reserve.

“We’re enormous fans of Bitcoin and the Bitcoin community,” Hines told Crypto in America. “We’ll start moving on that in short order.”

While the initiative was absent from the Fed's official policy report, Hines confirmed that the digital asset strategy remains on track and that the government aims to accumulate "as much [BTC] as we can possibly get."

Crypto liquidations (screenshot). Source: CoinGlass

Institutional Investors Lead the Charge with Massive BTC Accumulation

As retail investors fretted over interest rates, institutional buyers seized the moment. According to Capriole Investments, corporate treasuries added nearly 30,000 BTC between July 29–30, marking one of the largest institutional accumulation events in recent memory.

• “Institutional net buying just breached 97% of all Bitcoin transactions,” said Capriole founder Charles Edwards.

• “The last time this happened was in August 2020, just before BTC's breakout past $20K.”

• This surge in treasury activity signals renewed confidence among professional investors, reinforcing Bitcoin’s role as a long-term strategic asset.

Liquidations Surge Amid Volatility

As Bitcoin rallied, volatility swept through broader crypto markets. Liquidations across all cryptocurrencies exceeded $500 million in the last 24 hours, according to CoinGlass. This reflects the violent price swings triggered by the sudden change in sentiment.

BTC/USD 1-day chart with treasury buys and sells. Source: Capriole Investments

Related: Bitcoin Eyes New Highs as U.S. Dollar Index Hits 21-Year Lows