Bitcoin (BTC) soared past $88,000, leading a crypto rally that saw Ethereum (ETH), Solana (SOL), and XRP post gains of up to 23% in a single day. The surge comes as macroeconomic conditions improve, with the U.S. manufacturing PMI climbing to 52.7, the highest since June 2022. This signals economic stability, prompting investors to shift towards riskier assets like cryptocurrencies. US manufacturing PMI climbed to 52.7 in February, the highest since June 2022. Growth fueled by rising output & orders, but tariff-driven cost inflation hit a 2-year high. Export demand weakened, and optimism waned as businesses feared Fed tightening. #Manufacturing #PMI pic.twitter.com/qHg6m0EqxS — Econoday, Inc. (@Econoday) March 3, 2025 However, market volatility remains elevated ahead of Trump’s Crypto Summit on March 7. While his proposed tariffs on China initially caused uncertainty, sentiment recovered amid growing optimism about institutional adoption and clearer regulations. Bitcoin surged past $88K, leading a market-wide rally. U.S. manufacturing PMI hit 52.7, supporting risk-on sentiment. Trump’s March 7 Crypto Summit could bring fresh volatility. El Salvador’s Bitcoin Strategy Reinforces Market Confidence El Salvador is doubling down on Bitcoin, despite IMF pressure to curb its BTC purchases. President Nayib Bukele has continued acquiring 1 BTC per day, bringing the nation’s total holdings to 6,101 BTC, worth approximately $534.5 million. EL SALVADOR IS STILL BUYING BITCOIN El Salvador is still buying 1 BTC every day. But today, they bought 5. The DCA strategy. pic.twitter.com/z4ISz2AZUt — Arkham (@arkham) March 4, 2025 The IMF sought to halt these purchases as part of a $1.4 billion funding deal, also pushing for stricter Bitcoin regulations. While El Salvador agreed to some adjustments, including closing its Fidebitcoin trust fund by mid-2025, its commitment to Bitcoin remains unchanged. The #IMF is requesting that El Salvador’s public sector stop accumulating #Bitcoin as part of a $1.4bn deal. It also aims to restrict public sector issuance of Bitcoin-linked debt or tokens. pic.twitter.com/2BHSjyD1cd — Christiaan (@ChristiaanDefi) March 4, 2025 El Salvador holds 6,101 BTC, worth $534.5M, despite IMF pushback. The IMF deal limits BTC purchases but stops short of banning them. Bitcoin’s status as a national reserve asset strengthens long-term confidence. Institutions and Billionaires Are Betting Big on Bitcoin Mexican billionaire Ricardo Salinas has raised his Bitcoin holdings to 70% of his liquid portfolio, up from just 10% in 2020. He views BTC as a hedge against inflation, avoiding traditional assets like bonds and stocks. Breaking Mexican billionaire Ricardo Salinas worth $5.8B has 70% of his portfolio in Bitcoin! This is massive for believers in Bitcoin and crypto as the future of finance! #Bitcoin #Crypto #Blockchain #Investing #Finance #Wealth #BTC #Cryptocurrency #HODL pic.twitter.com/3quxdwgONF — Doctor Boz (@DrBozOfficial) March 4, 2025 Meanwhile, Canadian blockchain firm Blockstream is launching three Bitcoin-backed funds, providing capital for BTC lending. These funds, set to launch on April 1, further highlight growing institutional interest in Bitcoin-based financial products. BLOCKSTREAM SECURES MULTIBILLION-DOLLAR FUNDING TO LAUNCH FUNDS ON BTC-BACKED LENDING – Bitcoin developer @Blockstream has secured a multibillion-dollar investment to launch three new funds focused on Bitcoin-backed lending and institutional hedge fund strategies, per Bloomberg.… pic.twitter.com/TRGGYQb2mf — BSCN (@BSCNews) March 5, 2025 Billionaire Ricardo Salinas now holds 70% of his portfolio in BTC. Blockstream is launching three BTC-backed funds to support lending. Institutional demand for Bitcoin is rising, boosting long-term price outlook. Bitcoin (BTC/USD) Technical Outlook – March 5, 2024 Bitcoin is trading at $87,603, up 5.01%, holding above a key support level at $86,426. However, upside remains limited by the 50-day EMA at $87,962, a critical resistance level. Bitcoin Price Chart – Source: Tradingview A breakout above $87,962 could push BTC towards $90,910, with $94,941 as the next target. Failure to hold $86,426 may lead to a decline towards $81,461, with further downside risk at $78,339. Key Insights: BTC faces resistance at $87,962; a break could target $90,910 and $94,941. Holding above $86,426 maintains the bullish trend; a drop could test $81,461. Failure to hold support may accelerate losses towards $78,339. BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale BTC Bull ($BTCBULL) is gaining traction as a community-driven token that rewards holders with real Bitcoin. 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