- MicroStrategy continues to expand its Bitcoin holdings, signaling confidence despite ongoing volatility and market downturns.
- Bitcoin’s rejection at $117,900 and breakdown below moving averages highlight rising selling pressure and short-term technical weakness.
- Stability hinges on the $111,800–$112,000 zone, with a rebound above $115,000 needed to revive bullish momentum.
Michael Saylor reaffirmed his commitment to Bitcoin, strengthening his position as one of the most consistent institutional advocates. He described Bitcoin as a neutral global asset with potential to serve as a fair settlement mechanism worldwide. His statement emphasized Bitcoin’s role as protection against inflation and instability in traditional fiat currencies.
MicroStrategy’s latest figures revealed a Bitcoin portfolio valued at $73.92 billion with an average purchase price of $73,913. The company displayed resilience despite volatility, as the graph showed steady accumulation through multiple market cycles. The orange markers highlighted continuous purchasing and reflected long-term conviction across varied price levels.
The ongoing accumulation strategy positioned MicroStrategy as a leading corporate entity in the digital asset space. Its consistent approach reinforced the idea that short-term corrections do not disrupt a broader upward trajectory. The message highlighted a long-term perspective, framing temporary declines as opportunities rather than setbacks.
Bitcoin Faces Resistance After Local Peak
Bitcoin recently touched $117,900 before reversing sharply, closing the latest session at $112,807 with a decline of 2.06 percent. The retreat pushed the price under key short-term moving averages, including the five-day and ten-day measures around $115,000. The sudden drop reflected heavy selling pressure and a breakdown of immediate support levels.
Source: chart.ainvest.
The trading volume spiked significantly during the downturn, highlighting a surge in activity not seen in recent sessions. Large sell orders dominated the candle, pointing to decisive actions likely from major market participants. The heightened volume suggested either profit-taking or short-term capitulation among traders.
Technical charts confirmed negative momentum, with the MACD line crossing below the signal line while the histogram deepened in red. This alignment reflected increasing bearish strength that could persist without a strong rebound. The technical shift highlighted the risks of extended declines if support zones give way.
Short-Term Outlook and Support Levels
Bitcoin’s immediate support rested between $111,800 and $112,000, marking a crucial zone for near-term stability. A confirmed break beneath this band could expose further weakness toward the $110,000 area. Sustained pressure at this level would indicate a broader correction phase developing.
For recovery, Bitcoin needed to reclaim the $115,000 level quickly to restore short-term momentum. A move above that threshold could signal renewed strength and reduce bearish pressure. Until then, downside risks remained prevalent across the charts.
Market participants continued to monitor momentum indicators and price action for signs of stabilization. Volume behavior would confirm whether selling activity persists or demand absorbs supply at current levels. The market narrative combined long-term conviction with immediate caution around resistance and support thresholds.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
