Bitcoin prices rebound following Jack Dorsey's 'Bitcoin is money' remarks

Bitcoin prices staged a sharp rebound on Monday after Jack Dorsey, co-founder of Block Inc. (formerly Square), reiterated his strong belief in the cryptocurrency through a series of posts on X (formerly Twitter).

 

Dorsey reposted a message from user Jamie Selects, who claimed to have “sold every @Square Seller on bitcoin payments” at a local market, citing excitement over “zero processing fees in 2026.” In response, Dorsey wrote, “Bitcoin is money,” a statement that reignited investor interest in the world’s largest digital asset. 

bitcoin is money https://t.co/PiyGGl2soE

— jack (@jack) October 19, 2025

 

 

His comments quickly gained traction across social media. In a follow-up post, Dorsey added a more post: “Bitcoin is not crypto.” 

 

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bitcoin is not crypto

— jack (@jack) October 19, 2025

 

Market observers interpreted the remarks as consistent with Dorsey’s long-standing view that Bitcoin transcends traditional notions of currency — serving instead as a decentralised, censorship-resistant monetary system distinct from speculative crypto tokens.

Bitcoin prices rebound on renewed optimism

After consolidating for several days following its early-October peak, Bitcoin rose sharply. The cryptocurrency, which had fallen to around $103,598 on October 17, climbed back to $110,222 in the last 24 hours — up 2.82 per cent, according to CoinMarketCap data. Daily trading volume stood at $55.91 billion, while Bitcoin’s market capitalisation reached $2.19 trillion, reinforcing its dominance in the digital asset space.

 

Despite the rebound, Bitcoin remains 12.59 per cent below its all-time high of $126,198, touched on October 7. Analysts said the pullback offered buying opportunities as long-term investors re-entered the market.

 

According to the CoinSwitch Markets Desk, the recent correction attracted fresh buying interest, signalling strong demand at lower levels. The earlier decline was attributed to ETF outflows, macro uncertainty, and portfolio rebalancing, particularly as US Treasury yields fell below 4% and gold surged to $4,300.

 

“October’s Bitcoin ETF flows remain net positive, despite intermittent outflows,” CoinSwitch said, adding that momentum could build further if macro conditions stabilize.

 

From a technical standpoint, Bitcoin now faces resistance in the $108,000–$110,000 zone. A decisive breakout above this level could trigger short covering, pushing prices toward $112,000–$115,000, analysts said.

Macro cues in focus

Investor attention now shifts to the delayed September CPI report, scheduled for release on Friday. The data will be a key input ahead of the US Federal Reserve’s policy meeting on October 28–29, which could shape near-term risk sentiment across global markets.