Key Takeaways
- Institutions, including Strategy and American Bitcoin Corp., purchased $206 million worth of BTC as the price approaches a key resistance level.
- Current price action suggests that if BTC clears the $116,000 level, it has the potential to soar toward the $124,600 mark.
- BTC’s technical indicators, including the 200 EMA and RSI, indicate that the asset is in an uptrend and still has enough room to continue its upward momentum.
Institutions’ interest in Bitcoin has soared as the BTC price reaches a key resistance level of $116,000, signaling the potential for a massive price uptick. According to on-chain analytics platform Onchain Lens and local media outlet PR Newswire, giants like Strategy (formerly MicroStrategy), along with the Donald Trump-linked and Nasdaq-listed American Bitcoin mining and treasury company, have collectively scooped up $206 million worth of Bitcoin.
Institutions Bag $206 Million in BTC
In a post on X, Onchain Lens revealed that Strategy purchased 390 BTC worth $43.3 million today. This massive accumulation took place just before Bitcoin’s rally began yesterday, at an average price of $111,053 per BTC. With this latest purchase, Strategy’s total Bitcoin holdings have now reached 640,808 BTC.
Meanwhile, local media reported that American Bitcoin Corp. has acquired 1,414 BTC worth $163 million. With this purchase, the company’s total Bitcoin holdings have now reached 3,865 BTC.
Institutions’ Impact on Bitcoin Price
The impact of these acquisitions isn’t evident in BTC’s price, as it continues to struggle near the $116,000 level.
At press time, BTC is trading at $114,365, posting a slight price increase of 0.25%, according to TradingView data. Meanwhile, market participation has declined, as reflected in the trading volume, which slipped by 15% to $55.21 billion.
Bitcoin’s falling trading volume at this key level, while the price struggles, indicates a lack of interest and serves as a red flag until the asset breaks above the crucial $116,000 mark.
Also Read: Tucker Carlson Claims CIA Created Bitcoin, Rejects Investment – Is He Right?
Bitcoin Price Action and Key Levels to Watch
ChatGPT said:
TimesCrypto’s technical analysis reveals that Bitcoin’s price is currently at a make-or-break point. The daily chart shows that the asset has a history of price reversals at the current level, raising concerns about whether BTC will break this hurdle or repeat its past behavior. Since the beginning of October 2025, BTC has reached this level more than five times and continues to struggle to break above it.
Based on the current market sentiment, if BTC manages to clear this hurdle and not only crosses but also closes a daily candle above the $116,200 level, it could open the door for a massive rally, potentially reaching the $124,600 mark. On the other hand, if the asset fails to close above this level, history may repeat itself with another price plunge.
Bitcoin’s recent rally has also pushed BTC back above the 200-day Exponential Moving Average (EMA) on the daily chart, indicating that the asset is in an uptrend. Meanwhile, the Relative Strength Index (RSI) shows strong bullish momentum. Currently, BTC’s RSI stands at 55.12, near the overbought territory, but it still has enough room to continue its upward momentum.
