Strive buys 11,000 BTC in two months
According to Lookonchain, Strive spent $276 million last week to buy 3,311 BTC at an average price of $84,500. In less than two months, it has bought a total of 11,417 BTC at an average price of $82,281, for a total of $952 million.
These spot purchases have made $82,281 a short-term zone of concentrated holdings, leaving buyers who chased the price at $84,500 with little cushion. Market makers’ sell orders at $84,000–$85,000 have been repeatedly absorbed, thinning out overhead selling pressure. But if BTC falls back below $82,000, stop-losses from buyers who chased the price and liquidations of leveraged longs could trigger a sell-off together. First, watch for support at $80,000. If $82,000 holds and spot buying continues, BTC could have a chance to climb to $86,000–$88,000.
For those of you holding BTC, what’s your cost basis? Would you dare place a buy order at $82,000?
$BTC $ETH $SOL
According to Lookonchain, Strive spent $276 million last week to buy 3,311 BTC at an average price of $84,500. In less than two months, it has bought a total of 11,417 BTC at an average price of $82,281, for a total of $952 million.
These spot purchases have made $82,281 a short-term zone of concentrated holdings, leaving buyers who chased the price at $84,500 with little cushion. Market makers’ sell orders at $84,000–$85,000 have been repeatedly absorbed, thinning out overhead selling pressure. But if BTC falls back below $82,000, stop-losses from buyers who chased the price and liquidations of leveraged longs could trigger a sell-off together. First, watch for support at $80,000. If $82,000 holds and spot buying continues, BTC could have a chance to climb to $86,000–$88,000.
For those of you holding BTC, what’s your cost basis? Would you dare place a buy order at $82,000?
$BTC $ETH $SOL