Small Firms Acquire 602.6 BTC as Prices Dip Below $80,000
- Small Firm Acquisition Activity: Amidst a pause from major institutional investors, smaller companies like Strive, DDC Enterprise Limited, The Smarter Web Company, and Hyperscale Data collectively acquired 602.6 BTC valued at approximately $46 million, highlighting ongoing interest in Bitcoin from smaller entities.
- Purchase Price Insights: Strive purchased 381.6 BTC at an average price of $79,348 per BTC, DDC acquired 200 BTC at $79,496, SWC bought 19 BTC at $77,687, and Hyperscale Data added 2 BTC when the price was $76,981, showcasing these companies' agility in seizing market opportunities during price fluctuations.
- Shift in Institutional Demand: While major institutional interest in Bitcoin has temporarily slowed, small and mid-sized companies continue to show strong demand, evidenced by a net outflow of $1.54 billion from spot Bitcoin ETFs over the past six trading days, reflecting a shift in retail investor sentiment.
- Overall Market Outlook: Following Strategy's substantial purchase of 24,869 BTC last week, larger investors have adopted a wait-and-see approach, with nearly 198 publicly traded Bitcoin treasury companies now holding around 1.24 million BTC, accounting for roughly 5.9% of the total circulating supply, indicating sustained long-term confidence in Bitcoin.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 4 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0377 | 0.0472 | 0.0537 | 0.0633 | 0.0698 | 0.0794 | 0.0859 |
| Fibonacci | 0.0472 | 0.0534 | 0.0572 | 0.0633 | 0.0695 | 0.0733 | 0.0794 |
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