Bitcoin (BTC) remains under downside pressure as traders watch key support and resistance levels for signs of a recovery or further losses. Meanwhile, Strive continues to expand its Bitcoin treasury through significant purchases, underscoring its ongoing accumulation strategy amid market uncertainty.
As of now, according to CoinMarketCap data, BTC is trading at $81,923.13, with an increase of 1.1% over the past 24 hours and a decrease of 0.58% over the past week.
BTC Price Tests $80,400 Support as $78,500 Downside Target Looms
Crypto analyst Bitcoin Meraklısı noted that Bitcoin is trading near $81,000 as the weekly candle approaches its close. Traders are monitoring $80,400 as the nearest support and $82,500 as immediate resistance, with these levels likely to influence BTC’s next short-term move.
In the analyst’s latest update, the previously identified 2.618 pattern remains valid, with Bitcoin having already reached its initial downside target of $80,400. The level is now a key area to watch as traders assess whether BTC can stabilize or extend its decline.
A break below $80,400 could expose Bitcoin to further losses toward $78,500, the next downside target identified by the pattern. Conversely, a move above $82,500 could support a short-term recovery, although a break above this level alone would not confirm a broader trend reversal.
The analyst also noted that BTC must rise above $84,400 for the 2.618 pattern to become invalid. Until BTC reclaims that level, the bearish scenario remains in play, leaving traders focused on the weekly close and the price’s reaction around these key technical levels.
Strive Buys $335M in Bitcoin as Treasury Holdings Expand
According to data shared by Lookonchain, Strive purchased 4,045 BTC worth approximately $335 million last week, at an average price of $82,803 per coin. The acquisition adds to the company’s growing Bitcoin treasury despite ongoing market uncertainty.
Over the past two months, Strive has acquired a total of 15,462 BTC for approximately $1.27 billion, at an average purchase price of $82,417 per Bitcoin. The figures highlight the scale of the company’s accumulation strategy and its increasing exposure to the leading cryptocurrency.
Strive’s latest purchases put corporate Bitcoin demand in focus as investors assess institutional and business treasury activity. However, the acquisitions do not guarantee an immediate price recovery, with Bitcoin’s near-term direction still dependent on market conditions and its ability to hold key technical levels.
