- Strategy’s next Bitcoin acquisition may push its holdings beyond 500,000 BTC, further influencing market sentiment and price movement.
- Spot Bitcoin ETF inflows surged to $785 million, indicating rising institutional confidence in Bitcoin amid favorable macroeconomic indicators.
- A reversal pattern and steady trading volumes support analysts’ view of a bullish Bitcoin trend, projecting a target of $114K.
MicroStrategy’s recent update on its Bitcoin portfolio has intensified market attention. Michael Saylor shared the firm’s portfolio tracker alongside a cryptic message, suggesting more Bitcoin acquisitions could be on the horizon.
This move aligns with past behavior where similar posts preceded Bitcoin purchases. Strategy currently holds 499,226 BTC, and any additional acquisition would bring its total above the 500,000 mark.
Capital Raise Strengthens Speculation of BTC Accumulation
Last week, Strategy announced plans to raise $500 million through preferred stock sales, reinforcing market expectations of a large Bitcoin purchase. Armed with new funds, the company is positioned to influence Bitcoin’s price once again. Previous acquisitions by Strategy have often triggered sharp market responses.
Besides the portfolio update, market sentiment is improving due to several developments. Reports have emerged suggesting Coinbase is in talks to acquire Deribit in a deal valued at $5 billion. Moreover, spot Bitcoin ETFs recorded $785 million in inflows after several weeks of outflows, signaling renewed institutional interest.
Macroeconomic Signals Support Price Upside
The ability of the Federal Reserve to maintain rates of interest constant on the other hand provided a further boost to BTC. It gave Bitcoin a 3.5% uptick by adding to the optimism for trading desks.
Economists agree that there is a likely possibility of a rate cut in April and this could lead to an increase in capital flowing to Bitcoin. On the one hand, the gradual appreciation of Bitcoin by the IMF as an asset has contributed to increasing its classification as ‘digital gold’.
From a technical standpoint, Bitcoin appears to be forming a strong upward trend. Daily trading volume remains elevated at $11.96 billion, with the seven-day performance up nearly 3%.
A double-bottom pattern at $78K and $76K is now seen as confirmation of bullish strength. Several analysts forecast a potential price target of $114K, assuming short-term resistance levels are cleared.
