Public Companies' Bitcoin Purchases Plummet 99.93%
- Dramatic Purchase Decline: SoSoValue data reveals that public companies bought only $70,000 worth of Bitcoin last week, marking a staggering 99.93% drop from the previous week, which could significantly impact market confidence and investment strategies.
- Absence of Major Players: Key players like Strategy and Metaplanet did not announce any Bitcoin purchases this week, with Strategy previously holding over 1% of total Bitcoin supply, indicating a substantial decrease in market participation and corporate interest.
- Only Notable Buyer: The UK-based company BHODL was the sole listed entity to increase its Bitcoin holdings last week, investing $72,832 to acquire 1 BTC, a modest purchase that stands out amid an otherwise barren market, highlighting potential strategic shifts.
- Stable Holdings: Despite the near-zero buying activity, publicly listed companies (excluding miners) still hold a combined 1,023,333 BTC, valued at approximately $6.939 billion, representing about 5.1% of Bitcoin's circulating market cap, indicating that corporate treasuries remain significant holders of the asset despite reduced acquisition activity.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 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 | 57731.096 | 61365.548 | 64757.186 | 68391.638 | 71783.276 | 75417.728 | 78809.366 |
| Fibonacci | 61365.548 | 64049.514 | 65707.672 | 68391.638 | 71075.604 | 72733.762 | 75417.728 |
About BTC
About the author
