- Metaplanet’s Bitcoin stash now exceeds Coinbase’s, totaling 10,000 BTC.
- BTC price drops as selling pressure dominates above key resistance zones.
Bitcoin has been showing defensive price action as sellers have dominated recent sessions. Bitcoin price behavior has turned cautious, hovering below the $108,000 resistance level. Visuals from Coinbase and Binance reveal limit selling and taker pressure, pointing to waning bullish conviction.
Coinbase’s Cumulative Volume Delta shows that sellers have capped price moves despite attempted bounces. Binance order flow supports this trend, with shorts exiting positions gradually instead of fresh buying momentum.
Short covering has fueled recent upside moves, but directional risk remains limited. Price activity is focused near the $108,000–$109,000 liquidity zone, with sellers meeting demand aggressively.
Traders remain defensive, using rallies to unwind exposure instead of entering long positions. Spot market activity during U.S. closing hours and into the Asia session is expected to determine the next short-term move.
BTC Slides Below Key Levels After Failed Breakout
At the time of reporting, Bitcoin is trading at $103,868.61, down 3.72% in 24 hours. The decline followed a strong rejection at $107,800, which had emerged as a near-term resistance point. After briefly touching this zone, BTC lost momentum and began a steady decline. The ongoing move shows signs of sustained bearish pressure.
Support at $104,200 offered temporary stability but is weakening under the current market tone. Traders are closely watching the $103,000 level, which is viewed as a psychological threshold.
Metaplanet’s Bitcoin Strategy Gains Traction
Metaplanet has increased its Bitcoin holdings by purchasing 1,112 BTC for approximately $117.2 million. CEO Simon Gerovich confirmed the acquisition on June 16 via X. The coins were acquired at an average price of $105,435 per BTC, raising the firm’s total holdings to 10,000 BTC.
According to Bitcointreasuries.net, Metaplanet now holds more Bitcoin than Coinbase, which holds 9,267 BTC. The Tokyo-listed firm’s average entry price stands at $94,697 per coin. With this expansion, Metaplanet has realized a 266.1% year-to-date BTC yield. The company has outlined a plan to acquire 210,000 BTC by 2027, equivalent to 1% of the total supply.
To support its strategy, the firm will issue 555 million shares, targeting $5.3 billion in capital. Additionally, Metaplanet’s board approved the issuance of $210 million in zero-interest bonds to EVO Fund. The bonds mature in December 2025, and proceeds will be used exclusively for Bitcoin acquisitions.
Disclaimer:Â 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.
