Key Insights: Strategy acquired 525 Bitcoin for $60.2 million at an average of $114,562 per BTC. The firm increased its total Bitcoin treasury to 638,985
Crypto analysts see strength in Bitcoin price and remain confident on upside to $120K amid spot Bitcoin ETF inflows, upcoming Fed rate cut, and whale accumulations to support a recovery.
Popular analyst Rekt Capital pointed out Bitcoin price weekly closed above $114K. This means BTC is one step closer to reclaiming its re-accumulation range. If bulls hold the level, it would be the end of the correction phase.
At the time of writing, BTC price was down 0.5% in the past 24 hours, with the price currently trading at $115,137. The 24-hour low and high are $114,684 and $116,784, respectively.
Furthermore, the trading volume has increased by 40% in the last 24 hours, indicating a rise in interest among traders.
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