Bitcoin Price Approaches $83K Amid Increased Corporate Holdings and Bullish Indicators
Bitcoin is nearing $83,000 as Strategy adds 130 BTC, totaling 499,226 BTC. A bullish double bottom pattern suggests potential upward movement toward $100,000. The current market cycle shows similarities to previous bull runs, indicating a possible surge reminiscent of the 2016-2017 growth. Long-term holders continue to accumulate Bitcoin, supporting price stability and future growth.
Bitcoin is currently trading near $83,000, and the Strategy has notably increased its holdings by acquiring an additional 130 BTC. This brings its total to 499,226 BTC, which is valued at approximately $33.1 billion. As one of the largest corporate Bitcoin holders, Strategy reinforces its commitment to Bitcoin as a significant strategic asset and store of value.
The acquisition of 130 BTC was made at an average price of $82,981, totaling a $10.7 million investment. With an average purchase cost of $66,360 per token, Strategy—led by Michael Saylor—has consistently added to its Bitcoin reserves despite previous market downturns. In fact, MicroStrategy has reported a 6.9% yield from its Bitcoin assets during the first half of 2025.
A recent analysis of Bitcoin’s price chart has revealed a double bottom pattern, indicating a potential bullish trend. This pattern suggests that as Bitcoin has encountered significant support at two key price points, it might break through its neckline, setting the stage for a potential rise toward the $100,000 mark. Currently, Bitcoin’s daily trading fluctuated from a low of $82,523 to a high of $84,000, closing at $83,423, reflecting a daily gain of 1.03%.
The Relative Strength Index (RSI) stands at 43.38, with its moving average noted at 41.15, highlighting that while the price momentum is recovering, it remains below the crucial threshold of 50. Moreover, the market is exhibiting increasing buying pressure, as indicated by the green signals in the Cumulative Volume Delta (CVD) indicator, demonstrating strengthening buyer momentum conducive to a breakout.
Market analysts are drawing parallels between the current Bitcoin market cycle and that of 2016-2017, which culminated in substantial price increases. Notably, during the last bull run, Bitcoin surged 20 times from $500 to $20,000. If historical trends continue, a similar trajectory following Bitcoin’s previous low of $15,000 could potentially elevate its price to around $300,000. Key to this cycle is the upcoming Bitcoin halving event, which historically has resulted in supply constraints that escalate prices.
Additionally, long-term holders appear undeterred by recent price declines, choosing to accumulate Bitcoin instead. Trends indicated by the Realized Cap UTXO Age Bands show an increase in the number of Bitcoins held for 3 to 6 months, suggesting a commitment to the asset that further tightens supply against growing demand, thus fostering conditions for price appreciation.
In conclusion, Bitcoin’s price is making significant strides towards $83,000, fueled by Strategy’s accumulation efforts of BTC. The double bottom pattern discovered in its price chart hints at the possibility of a bullish breakout, and historical cycles suggest potential price surges akin to previous years. With increasing market participation and long-term holders bolstering their positions, Bitcoin is poised for notable developments in the near future.
Original Source: themarketperiodical.com
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