Strive Asset Management Expands Bitcoin Holdings with $185M Purchase

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

BTC-4.991%

X+0.24000001%

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Bitcoin Accumulation: Strive Asset Management announced the acquisition of an additional 2,500 BTC for over $185 million, with an average purchase price of $74,092, indicating continued institutional confidence in Bitcoin.
Increased Holdings: Following this purchase, Strive's total Bitcoin holdings have grown to approximately 19,000 BTC, solidifying its position as an aggressive institutional accumulator and demonstrating a long-term commitment to crypto assets.
Strong Yield Performance: Year-to-date, Strive's BTC yield has risen to 36.7%, with a quarter-to-date yield of 23%, showcasing the effectiveness of its Bitcoin strategy and adaptability to market conditions.
Financial Stability Strategy: The firm has also increased its cash reserves to secure an 18-month dividend runway, reflecting a balanced approach between aggressive Bitcoin investment and maintaining shareholder stability.

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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 10 technical signals, shows that 5 indicators are flashing buy, while 5 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	57845.204	62731.527	68307.354	73193.677	78769.504	83655.827	89231.654
Fibonacci	62731.527	66728.068	69197.136	73193.677	77190.218	79659.286	83655.827

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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