Strive has expanded its Bitcoin treasury with another 3,311 BTC purchase valued at approximately $276 million. The acquisition brings its recent accumulation to 11,417 BTC in less than two months, highlighting continued corporate exposure to the cryptocurrency. Meanwhile, the Bitcoin price structure has drawn attention after a rebound from the lower boundary of an ascending parallel channel. Crypto analyst Ali Charts identified $88,000 as the next potential target, followed by $93,000 if bullish momentum continues.
Strive Expands Its Bitcoin Treasury With $276M Purchase
Strive purchased 3,311 Bitcoin at an average price of $84,500 last week, according to Lookonchain. The acquisition brings its total purchases over less than two months to 11,417 BTC, worth approximately $952 million at the reported valuation.
Source: Lookonchain’s X Post
The company accumulated these holdings at an average price of $82,281, reflecting its recent commitment to Bitcoin. Continued corporate purchases can influence market sentiment, although individual treasury decisions do not guarantee higher prices. Broader demand, liquidity, and selling pressure also determine Bitcoin’s market direction.
Also Read: Can Bitcoin Price Reach $100K in October? ETF Flows and Spot Demand Hold the Key
Corporate Bitcoin Accumulation Reaches 11,417 BTC
Strive’s latest acquisition highlights ongoing corporate interest in Bitcoin as a treasury asset. Its recent purchases represent a substantial allocation to the cryptocurrency over a relatively short period.
This is important to note since the average purchasing cost is $82,281, and it serves as the basis for the accumulation approach adopted by Strive. However, the figure cannot necessarily be seen as a supportive level for BTC.
It is clear that further moves from investors in respect to Strive’s ongoing purchases of Bitcoin will be closely monitored. Similarly, it will be necessary to know how other corporations will conduct themselves in regard to their approaches.
Bitcoin Price Rebound Puts $88,000 and $93,000 in Focus
The Bitcoin price is currently in an ascending parallel channel, according to Ali Charts. The technical pattern is characterized by two uptrending lines used to pinpoint potential levels of support and resistance.
A rebound off the bottom trendline will likely push BTC towards the price target of $88,000, which is the next possible destination in the ascending channel.
If the positive trend holds and Bitcoin clears the level, the upper trendline near $93,000 may act as the next target point. Yet, the potential break requires continued strength in the demand and Bitcoin overcoming the resistance.
If the price action falls below the lower trendline, it would reduce the strength of the bullish pattern, bringing into question the validity of the correction.
Ali Charts Highlights Bitcoin’s Next Price Levels
Ali Charts forecasts an eventual two-phase recovery, with the initial phase expected to hit $88,000 followed by the next phase hitting $93,000. This is based on BTC maintaining channel support and continuing its positive momentum.
The buildup at Strive adds another market perspective to the picture but does not validate the predictions made by the analyst. Treasury buying and technical signals are two different factors altogether.
What Comes Next for Bitcoin?
It is essential to monitor Bitcoin’s potential to keep its lower channel boundary. In case the price starts to move closer to $88,000, we may expect the approach of the first target. If the price moves above it, it may continue towards $93,000.
Strive will continue to be monitored by investors for further acquisitions that point to corporate accumulation. However, liquidity in the market, along with selling pressure, may affect Bitcoin’s recovery.
Strive’s most recent acquisition indicates further corporate involvement with Bitcoin, and according to Ali Charts, there are upside target levels identified. It all depends on how price action behaves in relation to the channel resistance and support.
Also Read: Bitcoin Price Analysis: Ali Charts Spots TD Sequential Buy Signal Near $82K
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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