MicroStrategy’s ongoing investment comes as Bitcoin demonstrates renewed strength, climbing above $107,000, buoyed by increased institutional interest.
Edul Patel, Co-founder and CEO of Bengaluru-based crypto exchange Mudrex, said Strategy’s $1.05 billion acquisition of 10,100 BTC and Metaplanet’s crypto reserves surpassing the 10,000 BTC mark have fuelled bullish momentum in the asset, even amidst geopolitical tensions. He also noted a significant surge in Ethereum whale accumulation, with over 818,000 ETH accumulated, marking the highest daily inflow in over six years, which is supporting ETH above $2,500. Currently, Bitcoin is trading near $107,000, with major resistance at $110,300 and support at $105,800.
Avinash Shekhar, Co-Founder & CEO of Pi42, added that the filing of a Bitcoin and Ether ETF by Truth Social and Strategy’s $1 billion BTC purchase further fuelled the recovery, signalling continued confidence in digital assets. He also highlighted Ethereum’s increasing traction, supported by strong ETF inflows and historically low exchange reserves. However, Shekhar cautioned about certain altcoins, specifically mentioning that Dogecoin must maintain key support levels to avoid a sharp decline. He concluded that while the overall market shows mixed signals, the leadership from Bitcoin and Ethereum is maintaining a cautiously bullish core sentiment.