Bitcoin returns to travel, climbing dramatically from under $99,000 to over $108K in just two days.
Behind the scenes, players from major institutions made offensive moves that helped to set fire to this surge. This is what unfolded.
Bitcoin falls below $99K on June 22nd
After trading in a tighter range for several weeks, Bitcoin experienced a sudden penetration on June 22nd, falling to its $98,200 low. This sharp fix surprised retailers and sparked a wave of liquidation as Bitcoin had been trading above $100,000 for at least seven consecutive weeks. As a result, market sentiment has become more cautious.
But the dip was short-lived.
On June 23rd, the story changed dramatically. Specifically, Procap BTC, an institutional investment vehicle led by renowned investor Anthony Pompliano, has announced a $1 billion SPAC merger with Columbus Circle Capital, forming Procap Financial.
They revealed they raised more than $750 million in fresh capital. Within hours of the announcement, Procap began actively deploying capital to Bitcoin.
$514.5 million in Bitcoin purchases
Within 24 hours of the merger news, Procap spent $386.5 million to buy 3,724 BTC at an average price of $103,785. This accumulation coincided with a rapid 5% rebound in BTC's price, pushing back over $106,000.
Today, Procap added 1,208 btc worth $128 million to its holdings. This time the average price is $105,977. This latest purchase will bring the total acquisition to approximately $514.5 million worth of 4,932 BTC, which will be acquired within two days.
Market Analytics Platform LookonChain observed a clear correlation between Procap's announcement and Bitcoin price recovery.
Why has $BTC increased sharply over the last two days?
Most of the purchases came from #Procap BTC. This purchased 4,932 BTC, worth 514.5m.
On June 23, they announced a billion-dollar merger, raising https://t.co/suurfmga2 over 750m
Within a day they spent 386.5m buying…pic.twitter.com/fbsmdpnagi
– lookonchain (@lookonchain) June 25, 2025
Players from other institutions are also quietly accumulating
While Procap grabbed the headlines, several other agencies and public companies also disclosed important Bitcoin purchases.
The strategy led by Michael Saylor acquired 245 BTC on June 23 for about $25 million. In particular, this came just a week after the company bought 10,100 BTC for over $1 billion.
Also this week, Smarter Web company announced additional Bitcoin acquisitions as part of its long-term “10-year plan” financial strategy.
MéliuzSA (Cash3) has acquired 275.43 BTC for $2861 million after the completion of its recent share offering. This brought total holdings to 595.67 BTC, with an average price of $102,702.
Similarly, Blockchain Group, Europe's first Bitcoin Treasury company, added 75 BTC for around 6.9 million euros. As of June 23, 1,728 BTC was worth 155.8 million euros, holding a yield of 1,231.7% and a quarterly return of 64.5%.
Together, these moves confirm that Bitcoin accumulation is accelerating across multiple sectors and regions.
Bitcoin is $108K, the eye is collected at the highest ever
At a press conference, Bitcoin hit its daytime high of $108,125, close to $112,000, close to its all-time high. Moment appears to be in favor of the bull as trading volumes rise and institutional sentiment is bullish.
Beyond facility purchases, it is worth noting that the Iran-Israel ceasefire contract in the war is a major factor behind Bitcoin's dramatic comeback.
With President Donald Trump's announcement of the war's conclusion, the crypto market surged almost immediately. The initial escalation of the conflict contributed to capital flights, which helped $98,000 in a bitcoin dip.
