- MicroStrategy's Recent Bitcoin Purchase
- Bitcoin Price Momentum
- Bitcoin Technical Analysis and Upcoming Levels
As the cryptocurrency market shows signs of recovery, MicroStrategy, the largest corporate Bitcoin holder, made a substantial purchase of 7420 BTC worth $458.2 million.
MicroStrategy's Recent Bitcoin Purchase
Recently, MicroStrategy acquired 7420 BTC worth $458.2 million. According to the on-chain analytics firm Lookonchain, it took six days to accumulate this significant BTC amount at an average price of $61,750.
Bitcoin Price Momentum
Currently, the overall market sentiment has shifted, and Bitcoin, the world’s biggest cryptocurrency, has experienced an impressive price surge of over 9% over the past 7 days. At press time, BTC is trading near $62,860 and has remained stable over the last 24 hours. During this period, its trading volume has dropped by 21%, indicating lower participation from traders and investors amid ongoing price reversal.
Bitcoin Technical Analysis and Upcoming Levels
According to expert technical analysis, BTC appears bullish and is now heading toward the $65,000 level. Additionally, it is trading above the 200 Exponential Moving Average (EMA), which hints it is in an uptrend. If BTC reaches the strong resistance level of $65,000, we may see a price reversal. However, if it breaks through that resistance, there is a strong possibility it could rise to $68,000 in the coming days.
MicroStrategy continues to strengthen its position as the largest corporate holder of Bitcoin, confirming its confidence in the future of cryptocurrency.
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