Bitcoin Price News: Michael Saylor Says Bitcoin Can Reach 5 Billion People as the Price Tests a Critical Breakout
Bitcoin is back above an important resistance level, and Michael Saylor has once again shared one of his boldest views on Bitcoin’s future. Speaking in a televised interview that was later cut down to only a few minutes, the Strategy chairman said he sees “no reason Bitcoin can’t touch 5 billion people.”
That statement comes at a time when Bitcoin is trying to build on its recovery from June’s lows. The technical picture has improved, ETF flows have turned positive again, and traders are watching one level that could decide whether this recovery keeps going.
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The BTC Price Is Trying to Hold Its Latest Breakout
We had a look at the Bitcoin chart shared by and saw that the market performed pretty well coming off of the correction of June.
On the chart the BTC price trades around $61,680 following an approximate 7% bounce from the previous lows. However, more importantly, Bitcoin was able to reverse its price action and break above the previous highs at $60,737.
While this is certainly positive, the move needs confirmation. Right now, the next hurdle for the price action stands at the weekly 200-day moving average at $62,663. This moving average usually becomes an important level of either support or resistance when we have a larger market cycle.
The chart also shows that Bitcoin remains confined within the trading range of around $58,043-$60,737. The price bounced off of the bottom of this range multiple times before climbing back.
If the BTC price manages to remain above the previous highs of $60,737 and break above the weekly moving average, it might become a target for traders. On the other hand, if buyers lose control and the price falls below $58,000, we will be looking at a deeper support once again.
Michael Saylor Still Sees Global Bitcoin Adoption
Michael Saylor’s latest comments in the video shared by Crypto Patel show that his outlook has not changed. He argued there is “no reason Bitcoin can’t touch 5 billion people,” describing Bitcoin as a global store of value capable of reaching users across every region.
MICHAEL SAYLOR: NO REASON BITCOIN CAN'T TOUCH 5 BILLION PEOPLE
— Crypto Patel (@CryptoPatel) July 3, 2026
Saylor's Bold Bitcoin Adoption Call Gets Cut to 4 Minutes on Mainstream News pic.twitter.com/i139fBjSuz
It is the same thesis he has repeated for years, viewing Bitcoin as a digital property that anyone with internet access can own. The timing is interesting because institutional interest has started improving again after several weeks of selling pressure.
US spot Bitcoin ETFs recorded net inflows of about $221.7 million on July 2, ending a 10-day streak that had removed roughly $2.7 billion from the products. Fidelity’s FBTC accounted for about $166 million of those inflows, although BlackRock’s IBIT still posted around $40.4 million in net outflows during the same session. Those inflows arrived after weaker US employment data reduced expectations that interest rates would stay higher for longer.
Derivatives Still Show Investors Are Protecting Against Downside
The options market is sending a more cautious message.When Bitcoin briefly traded below $60,000, traders rushed into protective put options. Reports estimate downside hedging reached roughly $1.2 billion around strikes between $55,000 and $60,000.
The broader options market remains defensive as well. Bitcoin options open interest sits near $34 billion ahead of major quarterly expiries worth approximately $9.3 billion in notional value. Puts continue trading at more than a 10% premium over calls, and weekly options skew remains heavily tilted toward downside protection.
That tells us many professional traders still want insurance against another decline, even though the spot market has recovered. Several indicators will help determine what comes next. Traders are continuing to monitor the ability of the BTC price to hold the support range of $58,000 to $60,000, the sustainability of ETF inflows following the recent rally, and a possible return of options premiums towards equilibrium.
Read Also: We Asked ChatGPT Which Crypto Could Outperform Bitcoin by 2027
Can the BTC Price Keep Climbing?
The market has clearly improved compared with June. Bitcoin has reclaimed the upper end of its trading range, institutional inflows have returned after a lengthy period of withdrawals, and Saylor continues making the case for worldwide adoption.
At the same time, the derivatives market shows that many investors still expect volatility. Heavy put buying tells us downside protection remains in demand even as spot prices recover.
For now, the most important technical level for the moment is the weekly moving average at $62,663. Breaking out through this level will definitely boost the positive technical picture. Should Bitcoin fail to hold the breakout above $60,737, attention will shift back to the $58,000 area of support.
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