Metaplanet BTC Buy and ETF Option Dey Keep Bitcoin Steady
Bitcoin price analysis dey show say BTC dey trade near $115,000 after e stop six days decline. Di main cryptocurrency drop below $112,000 last week but e rebound above $114,000, show say market momentum na mixed.
For big corporate move, Japanese company Metaplanet buy 463 BTC for about $53.7 million at average price of $115,895, wey make im holdings increase to 17,595 BTC wey dey worth over $2 billion. E plan to issue $3.73 billion perpetual preferred shares to expand im Bitcoin treasury more.
For ETF side, SEC raise options contract limits from 25,000 to 250,000 for funds like BlackRock’s IBIT, dis one go boost dem competitive edge over competitors and fit reduce volatility through strategies like covered calls.
But on-chain data show whales and short-term holders send 40,000 BTC go exchanges, cause net inflows of 16,417 BTC and put pressure to sell. According to this Bitcoin price analysis, technical indicators like Bollinger Band squeeze and withdraw below key EMAs, dem talk say BTC fit stay rangebound till at least October, waiting for catalyst to push am towards $120,000 resistance.
Neutral
Di article dey yarn both bullish and bearish factors. For the bullish side, Metaplanet buy $54 million BTC plus SEC raise ETF option limits for BlackRock’s IBIT show say institutional demand strong pass and volatility fit drop. But big whale and short-term holder dey sell wella, net flow go exchange increase, plus technical stagnation for important resistance levels mean say selling pressure still dey and market dey trade for narrow range. History show say big whale deposit usually dey come before price fall, while ETF expansion dey support spot demand. These mixed signals fit mean say Bitcoin fit remain inside e current range short term, even if long term factors dey positive. Traders suppose watch institution flow and technical breakout before dem go expect strong trend, so near-term outlook na neutral.