Bitcoin continues to dominate market conversations as its price structure aligns with increasing corporate accumulation. Japan-based Metaplanet has now amassed 20,000 BTC, valued at roughly $2 billion, underscoring the growing influence of institutional adoption. With price action rebounding from key support levels and companies reinforcing demand, the market appears poised for its next major move.
Support at $108,000 Sparks Renewed Momentum
Bitcoin has shown a strong bounce from the $108,000 level, confirming this zone as a vital support. The chart illustrates a consistent defense of this base, which now acts as a launchpad for upward movement. Repeated rejections near $123,000 have created temporary resistance, but the persistent return to $108,000 without a breakdown reinforces its importance. This compression within a rising band often signals an impending breakout.
Technical Structure Points to $150,000 Potential
Using Fibonacci extension analysis, the next price targets are projected at $135,000 initially, with potential to reach $150,000 if momentum continues. The current range between $108,000 and $125,000 serves as a staging ground for the next leg upward. Two distinct impulse waves are visible, one with a 62 percent gain and another forming with a 39 percent extension. A confirmed close above $123,000 would validate this bullish structure, while a drop below $108,000 could shift focus toward $100,000 and delay further gains.
Metaplanet’s Strategic Accumulation Signals Institutional Confidence
Metaplanet’s latest purchase of 1,009 BTC worth approximately $112 million marks one of its largest acquisitions to date. This follows smaller buys, including 103 BTC just weeks earlier. Despite a 4 percent dip in its stock price after the announcement, the company’s Bitcoin holdings continue to strengthen its financial position. Metaplanet now joins the ranks of major corporate holders, reflecting a broader trend of companies adopting BTC as a reserve asset.
Frequently Asked Questions (FAQs)
- What is driving Bitcoin’s current price movement?
Strong support at $108,000 and institutional buying are key drivers behind the bullish momentum.
- Why is Metaplanet’s accumulation significant?
It reflects growing corporate confidence in Bitcoin as a long-term reserve asset.
- What are the next price targets for Bitcoin?
Technical analysis suggests $135,000 as the next milestone, with $150,000 possible if momentum continues.
