Strive has continued its Bitcoin accumulation, purchasing 4,045 BTC worth approximately $335 million last week as the cryptocurrency trades near $81,000. According to Lookonchain, the company acquired 15,462 BTC worth $1.27 billion over the past two months. The purchases come as the Bitcoin price approaches a critical weekly close, with traders monitoring whether the price can hold $80,400 support or recover above $82,500 resistance. The combination of corporate buying and a vulnerable technical structure puts Bitcoin’s next move in focus.
Strive Accumulates 15,462 BTC Worth $1.27 Billion
According to Lookonchain, Strive purchased 4,045 BTC last week at an average price of $82,803. The latest acquisition forms part of a broader accumulation strategy that has added 15,462 BTC to its holdings over the past two months.
The total purchases were valued at approximately $1.27 billion, with an average acquisition price of $82,417. The figures highlight the scale of Strive’s recent Bitcoin buying activity during a period of market uncertainty.
Source: Lookonchain’s X Post
Corporate accumulation can signal continued interest in Bitcoin as a treasury asset. However, these purchases do not guarantee an immediate price recovery. Bitcoin’s direction also depends on market liquidity, investor sentiment, and demand across spot and derivatives markets.
Also Read: Bitcoin Price at Crossroads: $84.2K Breakout or $80K Drop?
Bitcoin Price Faces Resistance at $82,500
Bitcoin is currently around $81,000, with the nearest support seen around $80,400 and the nearest resistance at $82,500, as per the crypto analyst Bitcoin Meraklisi.
The 2618 pattern by the above-mentioned analyst is still valid, with the first objective on the downside at $80,400 already achieved. Should the price move below the said support level, the next target is at $78,500.
Source: Bitcoin Meraklisi’s X Post
Positive aspects include the fact that the price rising above $82,500 would give buyers more opportunities to battle for higher prices. It has been established that $84,400 is the level where the pattern becomes invalid.
These levels can be used for analyzing the short-term dynamics of the Bitcoin price; however, no breakdown or recovery is guaranteed.
Strive’s Bitcoin Buying Contrasts With Technical Signals
Strive’s accumulation provides a clear difference compared to the current technical picture of Bitcoin. Strive’s current average buying price at $82,417 for the last two months is higher than that of BTC, which stands at $81,000 currently. Strive’s recent buying price has been averaging at $82,803.
However, these numbers put the company’s purchases into perspective, but it cannot be said that they indicate any kind of market support point. The costs associated with corporate purchases don’t mean anything about the price point where Bitcoin can attract buyers.
Furthermore, there is no way to know whether other institutional investors are accumulating their positions at the same speed. Data on spot trading volumes, flows between exchanges, and derivatives would help make sense of Strive’s position.
Bitcoin’s $80,400 Support Will Determine the Next Move
The short-term future of Bitcoin will depend on whether buyers manage to hold $80,400 or whether sellers push the price towards $78,500. A breakout above $82,500 will shift focus back to resistance, while a breakout above $84,400 will render the bearish pattern invalid.
On the other hand, Strive’s most recent acquisitions show how businesses have been accumulating even at this point where prices are unclear. Buying more might offer further understanding about their plans for Bitcoin, though it is not clear what it will mean for the broader market.
At this time, traders are monitoring the support at $80,400 and the resistance at $82,500, along with any developments in the company’s bitcoin reserves. The next validated price movement will provide some indication of whether Bitcoin will stabilize or continue down.
Also Read: Bitcoin Price in Focus as On-Chain Activity and Technical Signals Converge
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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