Metaplanet Acquires Siiibo Securities to Strengthen Crypto Presence
- Acquisition Deal: Metaplanet has agreed to acquire Japan's Siiibo Securities, a licensed Type I securities firm, with the deal expected to close in July, marking its first major acquisition in Project Nova aimed at building a Bitcoin-centric financial ecosystem.
- Bitcoin Holdings: Currently, Metaplanet holds 40,177 BTC, making it the third-largest corporate holder globally, trailing only Twenty One Capital and Michael Saylor's Strategy, which underscores its significant position in the cryptocurrency market.
- Market Opportunity: With Japanese households holding approximately $7.4 trillion in cash and low-yield products, the shift from deflation to inflation has led this substantial capital to seek yield, prompting Metaplanet to leverage Siiibo's online platform to offer Bitcoin-related yield products directly to Japanese investors.
- Stock Price Reaction: Following the announcement, Metaplanet's stock surged over 3.6%, although it remains down nearly 47.5% over the past six months, indicating a positive market response to the acquisition amidst ongoing Bitcoin price volatility.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 54327.107 | 57541.054 | 60864.257 | 64078.204 | 67401.407 | 70615.354 | 73938.557 |
| Fibonacci | 57541.054 | 60038.245 | 61581.012 | 64078.204 | 66575.395 | 68118.162 | 70615.354 |
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