Bitcoin Price Analysis: BTC Crosses $107,000 As Momentum Returns

Bitcoin (BTC) has registered a significant uptick after starting the day on a sluggish note. The flagship cryptocurrency reclaimed $107,000 as momentum returned after a subdued weekend that saw the price retake $105,000. However, analysts have warned that BTC still risks a drop below $105,000, depending on the outcome of US-China trade talks. 

BTC is up over 1% during the ongoing session, trading around $107,192. However, US CPI and PPI numbers could help bears retake control. 

Strategy Revises STRD Preferred Stock Offering 

Strategy has increased its $250 million offering of perpetual Stride preferred stock to $1 billion. It also increased the product’s pricing. Strategy announced the changes in a company blog post published on Friday. The product will pay investors a 10% non-cumulative dividend and will be offered at $85 per share. The offering will allow Strategy to raise $979 million to fund Bitcoin purchases. STRD is the third preferred stock established by the company this year, besides the STRF and STRK products. Each stock offering has unique features and benefits, including redemption features and the ability for dividends to accrue. Strategy had initially planned to offer STRD to investors at $100 per share. 

STRD does not allow for the accrual of missed dividend payments, unlike Strategy’s STRF offering. It also does not allow an investor to convert the preferred stock into common shares at a later date. The stock is also non-callable for life, meaning it has no associated maturity date. Strategy co-founder and executive chairman Michael Saylor stated, 

"It's our high-yield credit instrument. Compared to STRK or STRF, it should be a higher-yielding preferred instrument.”

Saylor also stated that the STRD stock has limited sensitivity to the Bitcoin price. STRD shareholders will rank behind STRF and STRK holders but come before common shareholders. Saylor added, 

“STRD represents the fourth gear in our Bitcoin engine. The point of our engine is to generate BTC torque via surgical management of our [at-the-money offering programs].”

Strategy currently holds 580,995 BTC worth over $60 billion. 

The Blockchain Group Plans $340 Million Raise For Bitcoin Treasury 

Paris-based crypto company The Blockchain Group is planning to raise $340 million for its Bitcoin treasury, indicating growing institutional adoption of crypto in Europe. The Blockchain Group claims to be Europe’s first Bitcoin treasury company. The $340 million fundraise is inspired by the US practice of “At the Market” offerings. Shares will be sold at market conditions initiated by the company’s counterparty. 

The group will carry out the raise in tranches, with prices based on the “higher of the previous day’s closing price or the volume-weighted average price,” capped at 21% of the day’s trading volume. The announcement comes only a week after the group announced the acquisition of $68 million worth of Bitcoin, taking its total Bitcoin holdings to 1,471 BTC. 

Strategic Treasuries Driving Bitcoin Higher 

Bitcoin (BTC) has been consolidating since the last week of May, trading around $105,000. However, it saw a substantial decline last week when it plunged to a low of $100,424 before recovering and reclaiming $105,000 over the weekend. Despite Bitcoin’s recent sluggishness, growing institutional adoption and strategic treasury moves have anchored the long-term bullish sentiment around the asset. Stella Zlatareva, Nexo dispatch editor, stated, 

“Strategic buys, treasury allocations, and infrastructure investment paint a picture of long-term confidence — regardless of short-term price action.”

According to Zlatareva, Bitcoin’s recovery from $100,000 suggests high resilience levels with “no signs of mass deleveraging or forced selling.” 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) is witnessing a sharp uptick during the ongoing session as bullish sentiment takes hold. The flagship cryptocurrency is up nearly 2% and has reclaimed $107,000 after a sluggish start to the week. Despite the jump, analysts have warned BTC risks a drop below $105,000, with US-China trade talks setting the tone for the week. Dominick John, an analyst at Kronos Research, stated, 

“Trading above $105K signals strength, but the structure remains fragile. With the Fear & Greed Index at 55, sentiment has balanced markets in a wait-and-see mode, looking for a macro trigger or confirmation of trend.”

Traders are waiting for key inflation data, with the CPI due on Wednesday and the PPI set to be released on Thursday. Recent job data came in stronger than expected, and economists have predicted CPI inflation data to be higher at 2.5%, up from 2.3% last month, thanks to escalating trade tensions. PPI data is also predicted to be higher at 2.6%, up from the previous month’s 2.4%.

Market watchers are hopeful of a fresh price increase after BTC’s resurgence. However, it faces immediate resistance around $107,600. A close above this level could send the price to $110,000 or higher. 

BTC registered a sharp drop on Thursday (May 29), dropping over 2%, slipping below the 20-day SMA and settling at $105,662. Sellers retained control as the price fell 1.51% on Friday, slipping below $105,000 and settling at $104,067. BTC recovered over the weekend, rising 0.69% on Saturday and nearly 1% on Sunday to reclaim $105,000 and settle at $105,779. The price plunged to an intraday low of $103,768 on Monday. It recovered from this level to register a marginal increase and settle at $105,902. However, BTC lost momentum on Tuesday, falling 0.44% to $105,436.

Source: TradingView

Sellers retained control on Wednesday as the price fell almost 1%, slipping below $105,000 and settling at $104,752. Bearish sentiment intensified on Thursday as BTC plunged 3%, dropping to a low of $100,424 before settling at $101,614. However, it rebounded on Friday, rising nearly 3% to $104,378. Buyers retained control on Saturday as the price rose 1.15% to reclaim $105,000 and settle at $105,575. BTC continued to push higher on Sunday, registering a marginal increase to end the weekend at $105,784. The current session has seen bullish sentiment return, with the price up almost 2%, trading around $107,670.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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