Bitcoin Hits a Three-Month High as Analysts Eye $88,000

CoinDesk, May 4 — • Bitcoin climbed above its three-month high, with traders increasingly pointing to $88,000 as the next upside target. • Hut 8 signed a $200 million Bitcoin-backed credit facility with FalconX. • Arthur Hayes said he expects Bitcoin to move past $100,000 after the Northern Hemisphere summer. • QCP said the near-term bullish inflection zone sits around $82,000–$83,000. • QCP Capital noted Bitcoin has returned to $80,000, with attention on whether the CME gap will be filled—something it said remains unconfirmed. • Russia has submitted a draft bill to regulate digital currencies that would legalize purchases starting in July 2026. • Morgan Stanley advised clients to keep Bitcoin exposure in the 2%–4% range. • Pi Network reported confusion after some users saw sudden zero balances on major exchanges. • Morgan Stanley's Bitcoin ETF drew $100 million of inflows in six days. • Kraken completed its acquisition of Bitnomial, marking its entry into the U.S. derivatives market.