MicroStrategy: Absorbs New Bitcoin Supply
MicroStrategy aggressively buys up fresh Bitcoin supply, boosting BTC price prediction amid bullish trends and neutral RSI at 56.87.
SourceMicroStrategy, the aggressive Bitcoin accumulator, just soaked up all the new supply of bitcoins, as tweeted by economist André Dragosch in a live view that underscores the firm's relentless acquisition strategy in the crypto market. This move aligns with MicroStrategy's history of converting corporate treasury into BTC holdings, driving scarcity and influencing BTC price prediction models over the past 12 months, especially as institutional adoption ramps up amid volatile crypto market crash fears.
Zooming into the 4-hour BTC chart, price action at $76,238.28 screams bullish conviction with the golden cross on MACD at 206.45 fueling upward momentum, while the neutral RSI of 56.87 leaves room for more gains before overbought territory kicks in. Confluence builds as BTC trades snug inside Bollinger Bands, testing that upper resistance at $77,147.47—a level that could cap short-term pops unless volume surges, but with EMA50 support holding firm at $74,717.17 and the longer-term EMA200 at $71,974.90 acting as a rock-solid floor, expect a quick dip to recharge before blasting higher, much like we've seen in recent rallies tied to corporate buyers like MicroStrategy.
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.