Bitcoin Holds Steady at $83K As Strategy Buys the Dip

CN
1 day ago

Bitcoin ( BTC) remained relatively stable over the past 24 hours, trading within a range of $79,931.85 to $83,497.91. The digital asset’s price barely budged since last week as investors assessed key market developments. BTC treasury firm Strategy (MSTR), formerly MicroStrategy, took advantage of the depressed cryptocurrency’s price, announcing a purchase of 130 bitcoin on Monday.

Bitcoin Holds Steady at $83K and Strategy Buys the Dip

( BTC price / Trading View)

At the time of reporting, BTC is valued at $83,142.02, reflecting a 0.19% increase over the past day and a 3.96% gain over the past week. Despite the modest uptick in price, trading volume surged to $27.14 billion, a 93.46% increase from the previous period, likely due to traders positioning themselves ahead of anticipated lower weekend activity.

Bitcoin’s market capitalization stands at $1.64 trillion, marking a slight 0.20% increase since yesterday. Meanwhile, BTC dominance has declined slightly to 61.57%, down by 0.29% over the past 24 hours, indicating relative strength in the broader altcoin market.

Bitcoin Holds Steady at $83K and Strategy Buys the Dip

( BTC dominance / Trading View)

In the derivatives market, total BTC futures open interest fell 1.07% over the past day to $48.57 billion, reflecting some unwinding of leveraged positions. According to Coinglass data, 24-hour bitcoin liquidations totaled $83.21 million, with $40.50 million in long positions and $42.71 million in short positions, suggesting a balance between bullish and bearish liquidations.

The company’s purchase of 130 BTC demonstrates that institutional demand for bitcoin remains robust, The business intelligence firm turned bitcoin treasury pioneer, led by Michael Saylor, is also reportedly preparing a $21 billion stock offering aimed at financing additional BTC purchases. The company’s aggressive accumulation strategy has positioned it as one of the largest corporate holders of bitcoin, a trend that continues to shape market sentiment.

Bitcoin Holds Steady at $83K and Strategy Buys the Dip

(Michael Saylor: chairman and founder of bitcoin treasury firm Strategy / Shuttershock)

With MicroStrategy’s ongoing institutional purchases and strong trading activity, bitcoin appears to be consolidating within a stable price range. However, broader macroeconomic factors—including interest rate policies and inflation data—will likely influence future price movements.

While BTC has experienced a modest recovery over the past week, analysts remain cautious about near-term price action. Key support levels around $80,000 will be critical in maintaining stability, while a breakout above $85,000 could signal renewed bullish momentum.

Overall, institutional adoption and strategic acquisitions continue to underpin confidence in bitcoin’s long-term potential, despite short-term market fluctuations.

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