News View Non-AMP

MicroStrategy Bitcoin Holding Soars with 7,420 BTC Purchase – Is $68K Next?

Published by
Zameer Attar

As the cryptocurrency market shows signs of recovery, MicroStrategy, the largest corporate Bitcoin (BTC) holder made a big move by purchasing 7,420 BTC worth $458.2 million. It took six days to accumulate this substantial BTC at an average price of $61,750, according to the on-chain analytics firm Lookonchain.

MicroStrategy’s Recent Bitcoin Purchase

In addition to this recent accumulation, MicroStrategy purchased a massive 18,300 BTC worth $1.11 billion at an average price of $60,408 between August 6, and September 12, 2024, as reported by CoinPedia.

This significant accumulation of BTC over a short period suggests that a massive upside rally may be imminent. 

Bitcoin Price Momentum

Currently, the overall market sentiment has shifted, and Bitcoin the world’s biggest cryptocurrency has experienced an impressive price surge of over 9% over the past 7 days. 

At press time, BTC is trading near $62,860 and has remained stable over the last 24 hours. During this period, its trading volume has dropped by 21%, indicating lower participation from traders and investors amid ongoing price reversal.

Bitcoin Technical Analysis and Upcoming Levels

According to expert technical analysis, BTC appears bullish and is now heading toward the $65,000 level. Additionally, it is trading above the 200 Exponential Moving Average (EMA) which hints it is in an uptrend. The 200 EMA is a technical indicator used by traders and investors to determine whether an asset is in an uptrend or downtrend.

Based on the historical price momentum, if BTC reaches the strong resistance level of $65,000, we may see a price reversal. However, if it breaks through that resistance, there is a strong possibility it could rise to $68,000 in the coming days.

Also Check Out: MicroStrategy Raises $1.01 Billion in Convertible Notes to Boost Bitcoin Holdings

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Recent Posts

Breaking: Pi Network Partners With Banxa and Onramper – Yet Pi Coin didn’t Surge!

Big announcement coming from the Pi Network. On the occasion of Pi2day, Pi Network has…

June 29, 2025

Will XRP Price Hit $10

The Ripple vs SEC is finally on the cusp of wrapping up, with a recent…

June 29, 2025

Senate Passed Trump’s “Big, Beautiful Bill” With 51-49 Vote

The U.S. Senate just gave the green light to President Trump’s widely discussed tax and…

June 29, 2025

Is XRP About to Lead the Next Altcoin Season?

It’s starting to feel like something big is coming for XRP. After months of sideways…

June 29, 2025

Bitcoin, ETH, & XRP Price Prediction for Next Week (30th June 2025 – 05th July 2025)

The broader crypto market is holding steady going into the final days of June, with…

June 29, 2025

Pi Network News: 337M Pi Token Unlock in July – Major Sell-Off Coming

Pi Network, once seen as a quiet underdog, is now facing one of its biggest…

June 29, 2025