Investors’ eyes have lit up once again at the sight of Bitcoin surging past the $100k mark for the first time in nearly three weeks. Attributing this impressive price action to the most recent MicroStrategy purchase is not a stretch. With the most recent $101 million Bitcoin purchase, MicroStrategy’s total BTC holdings are 447,470 BTC.
At press time, Bitcoins trades for approximately $102k, showing a 4% increase from the previous day. Even with the positive reactions to this development, it is still too early to conclude if the current momentum can be sustained as the year progresses.
MicroStrategy investment supports Bitcoin price movement
Seeing how close the timelines are, Bitcoin (BTC) moving above the $100k mark again may be a consequence of the aggressive BTC accumulation from MicroStrategy. Their recent acquisition of 1,070 BTC, at an average price of $94,041 per Bitcoin, reflects their continued investment approach. This latest purchase brings the firm’s total holdings to 447,470 BTC, solidifying its position as the leader among major institutional Bitcoin holders.
Adding to the positive market sentiment, Bernstein’s latest market analysis projects Bitcoin ETF inflows to double, potentially reaching around $70 billion in 2025. Should this projection materialize, it would push Bitcoin ETF ownership to 40%, marking a significant 18% increase from 2024 levels.
The aggressive accumulation approach from MicroStrategy, combined with growing institutional participation, suggests strong corporate confidence in Bitcoin, potentially supporting price levels above $100,000 throughout 2025.
Technical analysis points to strong, bullish momentum
The technical indicators for Bitcoin hint at a strong bullish trend as the cryptocurrency trades around $102,346.25. The trading chart attached below reveals a robust upward trajectory, with price action forming a clear ascending channel since the start of 2025.
The MACD indicator displays strong bullish momentum, currently at 715.52, with the signal line at 314.92. This positive divergence suggests sustained buying pressure in the near term. The histogram’s expansion above the zero line reinforces this bullish sentiment, indicating buyers maintain market control.
In agreement, the RSI readings confirm the uptrend’s strength, currently at 78.92, while the secondary indicator sits at 61.73. While the primary RSI suggests slightly overbought conditions, the secondary reading in the neutral zone indicates there’s still room for potential upside movement.
BTC/USD Trading Chart. TradingView
Price action shows a decisive break above the psychological $100,000 barrier, with current support established around the $97,500 level. The chart structure reveals a series of higher lows and higher highs, characteristic of a healthy uptrend. Trading volume has notably increased to 4,019.60 BTC during this latest push, suggesting genuine market participation in the rally.
In conclusion, the current market structure, supported by strong technical indicators and increasing volume, suggests Bitcoin could maintain its upward momentum. However, traders should note that the resistance level is nearly $102,500, which may require significant buying pressure to overcome.
The combination of these technical factors and the institutional developments mentioned earlier provides a comprehensive understanding of Bitcoin’s current market position.
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