- Bitcoin breaks a multi-month downtrend as it reclaims support near $84K, signaling a potential reversal after a 22% correction.
- A dormant whale wallet moved 100 BTC from Binance, boosting market confidence and spotlighting renewed accumulation activity.
- Metaplanet’s $10M USD bond raise to buy BTC highlights growing institutional demand and strategic capital deployment in crypto.
Bitcoin’s price action has taken a bullish turn, breaking a multi-month downtrend as market stability returns. A previously dormant wallet moved 100 BTC—worth approximately $8.33 million—out of Binance. This large-scale withdrawal, after two years of inactivity, adds to growing market interest. Bitcoin now trades near $83,798 after reclaiming support lost in March. The total crypto market cap hovers around $2.7 trillion, reflecting rising investor confidence.
April Breakout Marks Technical Shift
Bitcoin finally breached a downward trendline formed over three months as per Crypto Caesar. This trendline previously rejected price moves near $108K, $98K, and $88K. The breakout signals a potential reversal following a 22% decline from January’s highs. Significantly, the April price movement overcame structural resistance for the first time since early 2025.
Moreover, Bitcoin’s current position just below the $84K level puts it in a critical zone. Technical data shows price opened at $83,688, reaching a high of $84,217. The current session saw a modest gain of 0.12%. This steady rise follows a stair-step decline throughout Q1, marked by lower highs and lower lows.
Besides technical shifts, broader market trends also play a key role. Traders are increasingly rotating out of traditional stocks into crypto. This shift, combined with renewed support levels, strengthens Bitcoin’s breakout potential. However, resistance at $88K remains a key barrier to overcome.
Metaplanet’s Bond Strategy Fuels BTC Demand
Tokyo-based Metaplanet aims to boost its Bitcoin holdings significantly. The firm raised $10 million through zero-interest, USD-denominated bonds. These bonds, issued to EVO FUND, mature in October 2025. The proceeds will help Metaplanet reach its 10,000 BTC goal.
Furthermore, choosing USD over yen helps reduce currency conversion costs. It also enhances access to global crypto liquidity. Consequently, Metaplanet maximizes capital efficiency while driving shareholder value through this bold move. Additionally, such institutional strategies contribute to growing BTC demand. Strategic accumulation like this adds a new layer of confidence to the market outlook.
