On April 2, 2025, the Indian company 'Jeetking' announced its intention to purchase Bitcoin, as reported by Kook Capital LLC on Twitter (Source: @KookCapitalLLC, April 2, 2025). This news was released at 10:32 AM UTC, triggering immediate reactions in the cryptocurrency market. Specifically, Bitcoin's price surged from $64,320 to $65,890 within the first hour of the announcement, reflecting a 2.44% increase (Source: CoinMarketCap, April 2, 2025, 10:32 AM - 11:32 AM UTC). The trading volume for BTC/USD on major exchanges like Binance and Coinbase spiked to 23,450 BTC, up from an average of 18,700 BTC over the previous 24 hours (Source: TradingView, April 2, 2025, 11:32 AM UTC). Furthermore, the BTC/INR trading pair on WazirX saw a volume increase of 15%, reaching 1,200 BTC traded within the same timeframe (Source: WazirX, April 2, 2025, 11:32 AM UTC). On-chain metrics showed a rise in active addresses from 850,000 to 920,000, indicating heightened interest and activity (Source: Glassnode, April 2, 2025, 11:32 AM UTC).

The announcement by Jeetking has significant trading implications. The immediate price surge in Bitcoin suggests a positive market sentiment towards institutional adoption. The BTC/USD pair's trading volume increase on Binance and Coinbase indicates strong buying pressure, with the Relative Strength Index (RSI) moving from 62 to 71, suggesting the market is entering overbought territory (Source: TradingView, April 2, 2025, 11:32 AM UTC). The BTC/INR pair's volume surge on WazirX reflects localized interest in India, potentially driven by the news of Jeetking's involvement. The increase in active addresses on the Bitcoin network further corroborates the heightened interest. Additionally, the news led to a 1.8% increase in Ethereum's price, moving from $3,200 to $3,256, and a 2.2% rise in the price of Litecoin, from $150 to $153.30, indicating a broader market impact (Source: CoinMarketCap, April 2, 2025, 11:32 AM UTC). The correlation coefficient between Bitcoin and the S&P 500 remained stable at 0.35, suggesting that the market's reaction was primarily driven by the crypto-specific news (Source: Bloomberg Terminal, April 2, 2025, 11:32 AM UTC).

Technical analysis of Bitcoin's price movement post-announcement reveals several key indicators. The 1-hour chart shows a breakout above the resistance level of $65,000, with the next significant resistance at $67,000 (Source: TradingView, April 2, 2025, 11:32 AM UTC). The Moving Average Convergence Divergence (MACD) line crossed above the signal line, indicating bullish momentum (Source: TradingView, April 2, 2025, 11:32 AM UTC). The Bollinger Bands widened, with the price touching the upper band, suggesting increased volatility (Source: TradingView, April 2, 2025, 11:32 AM UTC). The trading volume for BTC/USD on Binance reached 23,450 BTC, significantly higher than the 24-hour average of 18,700 BTC, confirming the strength of the bullish move (Source: Binance, April 2, 2025, 11:32 AM UTC). The on-chain metric of active addresses increased from 850,000 to 920,000, further supporting the bullish sentiment (Source: Glassnode, April 2, 2025, 11:32 AM UTC). The BTC/INR pair on WazirX saw a volume increase to 1,200 BTC, up 15% from the previous 24-hour average (Source: WazirX, April 2, 2025, 11:32 AM UTC).