Strategy Buys 34K BTC in Weekly Surge
Strategy snaps up 34,164 BTC worth $2.54B amid $1.88B stablecoin inflows and rising institutional demand in crypto markets.
SourceCapital inflows into crypto markets held firm last week with $1.88 billion in new stablecoins minted, pushing the total stablecoin market cap higher even as DEX spot trading volume climbed while perpetual futures volume dipped. Institutional players ramped up activity, with eight companies adding 34,246 BTC valued at $2.58 billion, highlighted by Michael Saylor's @Strategy acquiring 34,164 BTC for $2.54 billion at an average price of $74,395. Meanwhile, Tom Lee's @fundstrat Bitmine grabbed another 101,627 ETH worth $235 million, signaling sustained whale accumulation amid broader market resilience. This aligns with recent trends where Bitcoin holders like these institutions drive BTC price prediction models upward, contrasting potential crypto market crash fears from perp volume declines. Protocol revenues also ticked up, underscoring ecosystem health despite mixed trading signals.
On the technical front, Bitcoin trades at $75,760.97 on the 4-hour chart, maintaining a bullish structure with price above both the EMA50 at $74,539.98 and EMA200 at $71,817.43, which act as key long-term support levels guarding against deeper pullbacks. Momentum sits neutral with RSI at 54.58, avoiding overbought extremes, but the MACD shows a bearish death cross at 88.2, hinting at short-term exhaustion that could pressure prices toward the lower Bollinger Band support at $73,836.67. With price currently inside the bands and testing toward the upper resistance at $77,837.46, confluence suggests a probable consolidation or mild retracement to retest the EMA50 before resuming upside, especially if institutional buys like Strategy's continue fueling demand—watch for a break above that upper band to confirm fresh highs, blending macro inflows with this setup for tactical entries.
These moves echo the institutional hype around BTC seen in the past six months, where similar accumulations preceded rallies, and tie into emerging narratives around assets like TAO in decentralized AI, potentially amplifying AI industry impact on broader crypto adoption.
Lookonchain
@lookonchainLooking for smartmoney onchain