MicroStrategy Buys 10,670 BTC
MicroStrategy snaps up 10,670 BTC via STRC, dwarfing daily mining supply by 23.7x amid bullish Bitcoin trends and halving impacts.
SourceMicroStrategy, led by Michael Saylor, just acquired 10,670 BTC through its STRC strategy today, according to Bitcoin Magazine. This massive purchase exceeds the daily supply of newly mined BTC by a staggering 23.7x, underscoring relentless institutional demand in the wake of recent halvings that slashed mining rewards and tightened supply dynamics over the past year.
Drawing from Saylor's history of aggressive Bitcoin accumulation—positioning MicroStrategy as a top corporate holder—this move amplifies market hype around BTC, especially as global trends like TAO and decentralized AI intersect with crypto's macro narrative, fueling BTC price prediction debates and potential crypto market crash risks if volatility spikes.
On the 4h chart, BTC grinds higher in a bullish structure, hugging the EMA50 at $72,008.75 as immediate support while the EMA200 at $70,023.59 anchors the longer-term floor. Momentum holds steady with RSI(14) at 58.71, neutral but leaning bullish, backed by a MACD(12,26) golden cross at 775.73 signaling sustained upside conviction. Price dances inside the Bollinger Bands, testing the upper resistance at $76,081.03 where exhaustion could trigger a tactical pullback to the lower support of $69,461.38, yet confluence points to buyers defending the EMAs for another leg up amid this institutional frenzy.
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.