Bitcoin (BTC) is attempting to recover after bouncing from key channel support, with further gains depending on sustained buying pressure. Meanwhile, Strive continues to expand its Bitcoin holdings through substantial purchases, reflecting its ongoing accumulation strategy and growing exposure to the leading cryptocurrency.
As of now, according to CoinMarketCap data, Bitcoin is trading at $81,215.13, down 2.87% over the past 24 hours and 1.93% over the past week.
BTC Price Targets $93K as Ascending Channel Signals Recovery
According to prominent crypto analyst Ali Charts, BTC is showing signs of a potential recovery after bouncing from the lower boundary of an ascending parallel channel. This technical pattern suggests that BTC could be preparing for another upward move, with the channel’s midpoint emerging as the next key level to watch.
Bitcoin’s initial upside target is $88,000, which represents the channel’s midpoint. A move toward this level would suggest that buyers are regaining momentum following the recent rebound from support.
If bullish momentum continues and Bitcoin moves above the midpoint, the channel’s upper boundary could become the next target. This places the potential upside level near $93,000, although reaching it would depend on sustained buying pressure and Bitcoin’s ability to maintain its upward trajectory.
Strive Accumulates $952M in Bitcoin in Under Two Months
The data from Lookonchain further shows that Strive has expanded its Bitcoin holdings by purchasing an additional 3,311 BTC for approximately $276 million last week. The latest acquisition was made at an average price of $84,500 per Bitcoin, further increasing the company’s exposure to the leading cryptocurrency.
In less than two months, Strive has accumulated a total of 11,417 BTC, with the combined purchases valued at approximately $952 million. The company’s average acquisition price across these purchases stands at $82,281 per Bitcoin.
The latest purchase underscores Strive’s continued Bitcoin accumulation strategy. With the total value of its acquisitions approaching $1 billion, the company has significantly expanded its BTC position in a relatively short period.
