Bitcoin Gains Momentum as Strategy Inc. Boosts Its BTC Reserves
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Bitcoin Gains Momentum as Strategy Inc. Boosts Its BTC Reserves

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Azeez Mustapha

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After Strategy Inc. increased its holdings of digital assets, Bitcoin is experiencing a new surge of optimism. The purchase of 220 BTC, valued at approximately $27.2 million, was confirmed by the publicly traded business intelligence firm, which is led by Michael Saylor. With this acquisition, Strategy Inc. solidifies its position as the biggest corporate holder of BTC, increasing its total balance to about 640,250 BTC.

This action is seen by market watchers as a confirmation of institutional faith in Bitcoin’s resilience and future growth prospects. Saylor’s statement on X demonstrated the company’s continued dedication to considering Bitcoin as a better store of value than fiat money and conventional assets. Analysts suggest that continued accumulation by major firms such as Strategy Inc. could limit available supply, supporting upward price pressure and reinforcing the bullish outlook for Bitcoin in the near term.

Key Bitcoin Levels To Watch – October 12

Bitcoin Gains Momentum as Strategy Inc. Boosts Its BTC Reserves

BTCUSD rebounded strongly from the $108,380 order block, confirming renewed bullish momentum. The MACD histogram shows decreasing bearish pressure, hinting at an upcoming crossover.

Price is trading above the short-term moving average, signaling sustained buying interest. If bullish strength holds, BTCUSD may advance toward the $124,530 and $130,000 resistance levels.

BTC Metrics

Resistance Levels: $118,000, $124,530, $130,000
Support Levels: $108,390, $95,980, $85,010

Bitcoin Key Levels

Total Market Capitalisation: $4.22T
BTCUSD Market Capitalisation: $2.45T
Bitcoin Volume: $66.52B
Market Rank: #1

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