‘Bitcoin Is Not Crypto’: Jack Dorsey’s Comments Spark Sharp Price Rebound
Bitcoin staged a sharp rebound on Monday after Jack Dorsey, co-founder of Block Inc. (formerly Square), doubled down on his support for the world’s largest cryptocurrency through a series of posts on X (formerly Twitter).
Dorsey’s comments, including the statement “Bitcoin is not crypto,” sent ripples through the digital asset market and reignited investor enthusiasm at a time when prices had been consolidating.
Dorsey’s message reignites momentum
The rally followed Dorsey’s repost of 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 remark that quickly gained traction across social media. He later added in a follow-up post, “Bitcoin is not crypto.”
Market analysts said the remarks are in line with Dorsey’s long-held view of Bitcoin as a decentralised, censorship-resistant monetary network rather than a speculative digital asset. His framing of Bitcoin as “money” underscores his belief that it operates fundamentally differently from other crypto tokens.
Bitcoin prices rebound on renewed optimism
The renewed buzz came after several days of price consolidation. Bitcoin, which had dipped to around $103,598 on October 17, jumped to $110,222 in the past 24 hours — a 2.82% rise, according to data from CoinMarketCap.
Daily trading volume reached $55.91 billion, while market capitalisation climbed to $2.19 trillion, reinforcing Bitcoin’s dominance in the digital asset ecosystem.
From a technical perspective, analysts noted that Bitcoin is now facing resistance in the $108,000–$110,000 zone. A breakout above this level could trigger short covering and push prices toward $112,000–$115,000.
Macro factors in focus
Beyond Dorsey’s remarks, broader macroeconomic factors remain in play. Investor attention is now on the delayed September CPI report, expected on Friday. The data will feed into the upcoming Federal Reserve policy meeting on October 28–29, which could influence near-term risk sentiment across global markets.
While technical and macro cues will continue to shape Bitcoin’s trajectory, Dorsey’s statement has reaffirmed a narrative that continues to set Bitcoin apart from the rest of the crypto market.
