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Bitcoin Price Maintained Near $100,000 Amid Corporate Accumulations and Market Speculation
Charles Edwards, founder of Capriole Investments, believes that the selling pressure from long-term Bitcoin holders keeps the price around $100,000. Since the launch of spot Bitcoin ETFs in January 2024, this category has been selling off assets and liquidating positions, according to an expert. The supply has been fully absorbed by a rapidly growing group of companies creating Bitcoin treasuries.
Recent acquisitions have been announced by Metaplanet and Strategy:
- The Japanese firm bought an extra 1,005 BTC, boosting its total to 13,350 BTC, making it the fifth-largest corporate Bitcoin reserve.
- Strategy added 4,980 BTC, increasing its total to 597,325 BTC.
Speculation in the market suggests large players like BlackRock might be deliberately suppressing the price to accumulate more coins at advantageous prices ahead of a potential market surge.
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AI Analysis
Charles Edwards, a notable figure in crypto investment, points out that the current Bitcoin price stability around $100,000 is largely due to the selling behaviors of long-term holders. This ongoing s...
AI Recommendation
Investors should remain cautious and observant of the ongoing accumulation trends by large players. The large corporate reserves indicate strong institutional interest, which could be a bullish sign i...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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