Bitcoin Price Analysis: BTC Holds Above $111,000 As ETF Inflows Steady Market
Bitcoin (BTC) has steadied itself after reclaiming $111,000, with the price only marginally down during the ongoing session. The flagship cryptocurrency has recovered well this week, rising nearly 2% on Tuesday to settle at $111,247.
Market sentiment improved this week thanks to rising ETF inflows, and the possibility of a rate cut steadied jittery investors. Odds of a rate cut have risen to 90%.
Bitcoin (BTC) Whale Makes Major Ethereum (ETH) Bet
A Bitcoin whale is accumulating billions worth of Ethereum (ETH) and has surpassed the second-largest corporate Ethereum treasury firm. The move is an indication of the growing trend of capital rotation among large investors moving funds to digital assets that offer more upside potential. The Bitcoin whale, worth over $11 billion, sold another $215 million worth of BTC and purchased $216 million of Ethereum. According to data from Lookonchain, the whale now holds 886,371 ETH, worth over $4 billion.
The whale also surpassed SharpLink’s $3.5 billion ETH holdings. SharpLink is the world’s second-largest corporate ETH holder, with 797,000 ETH.
Winklevoss-Linked Treasury Firm Set To List In Amsterdam
Treasury, a Netherlands-based Bitcoin treasury firm backed by the Winklevoss twins, announced that it will be listing in Amsterdam through a reverse listing along with Dutch investment firm MKB Nedsense. The treasury firm, which has raised 126 million euros ($147 million) through a private funding round led by Winklevoss Capital and Nakamoto Holdings, plans to attract Bitcoin investors in a region where BTC investment options are limited.
The Winklevoss twins also founded the cryptocurrency exchange Gemini and are vocal supporters of the flagship cryptocurrency.
Metaplanet Gives Nod To Bitcoin (BTC) Accumulation Strategy
Japanese investment firm Metaplanet has secured approval to overhaul its capital structure, clearing the way for it to raise up to $3.7 billion in fundraising to support its Bitcoin (BTC) accumulation strategy. Investors backed the firm’s plan to expand its authorized shares to $2.7 billion and introduce a dual-class preferred stock system to attract investors while maintaining shareholder control.
The new structure offers Class A shares with fixed dividends for income-focused investors, and Class B shares that carry higher risk, but can be converted into common stock.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has steadied itself above the $111,000 mark as it continues its recovery. The flagship cryptocurrency ended the weekend in the red, falling to a low of $107,250 on Monday. However, it rebounded from this level to cross $109,000 and settle at $109,240. Bullish sentiment intensified on Tuesday as BTC rallied, rising nearly 2% to cross $111,000 and settle at $111,775. The current session sees the price marginally up as buyers look to push it beyond $112,000.
Analysts have stated that markets are cautiously optimistic as ETF inflows indicate that institutional interest has not wavered. Avinash Shekhar, co-founder and CEO of Pi42, stated,
“Bitcoin is holding steady around $110,000 as stablecoin liquidity and moderate inflows signal investor confidence is quietly building. While volatility is still there, the market tone is far from bearish, and capital continues to flow into quality assets.”
Meanwhile, Edul Patel, CEO of Mudrex, believes policy expectations are a key driver of BTC’s ongoing recovery.
“Bitcoin is on an upward trend, gaining over 4 percent since Monday's lows. This shift in momentum comes as the odds of a rate cut increased back to 90 percent. Institutional demand continues to provide tailwinds, and Ethereum whale addresses have risen by 4 percent in just 10 days. Bitcoin must clear the resistance at $113,000 to confirm a bullish structure.”
According to veteran trader Peter Brandt, BTC has room for a final push towards the $150,000 mark. However, he added that the flagship cryptocurrency has very little time to make such a move.
“I think there is still room for one more big thrust, perhaps to $125,000 to $150,000, but it is running out of time. The market feels toppy.”
BTC started the previous week in the red, dropping to a low of $110,635 before settling at $113,478 on Sunday. Selling pressure intensified on Monday as the price fell almost 3% and settled at $110,127. Despite the overwhelming bearish sentiment, BTC recovered on Tuesday, rising 1.51% to cross $111,000 and settle at $111,788. Selling pressure returned on Wednesday as the price fell 0.48% to $111,253. However, BTC was back in positive territory on Thursday, rising 1.19% to reclaim $112,000 and settle at $112,574.
Source: TradingView
Selling pressure returned on Friday as BTC plunged nearly 4% to go below the $110,000 level and settle at $108,378. The price recovered on Saturday, rising 0.41% to $108,827, but returned to the red on Sunday, dropping 0.53% to $108,247. Buyers returned to the market on Monday as BTC started the week in positive territory. As a result, the price rose almost 1% to reclaim $109,000 and settle at $109,240. Bullish sentiment intensified on Tuesday as BTC rallied, rising nearly 2% to cross $111,000 and settle at $111,247. BTC is up almost 1% during the ongoing session, trading around the $112,000 mark. Buyers will look to retain control and push the price towards $115,000.
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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