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Strategy Scoops Up $2.5B in BTC as ETFs Hit 4 Straight Days of Inflows


by Parth Dubey
for Coinspeaker
Strategy Scoops Up $2.5B in BTC as ETFs Hit 4 Straight Days of Inflows

Strategy, previously known as MicroStrategy, has recently purchased another 21,021 BTC BTC $118 419 24h volatility: 0.4% Market cap: $2.36 T Vol. 24h: $37.44 B valued at $2.46 billion, according to data from Lookonchain. This major shopping, made between July 28 and 29, came shortly after the firm raised $2.5 billion through its fourth preferred stock issuance (STRC).

The average purchase price was $117,256 per BTC as the largest cryptocurrency continues to trade around this level since the weekend. This latest buy brings Strategy’s total Bitcoin holdings to 628,791 BTC, now worth around $74.26 billion.

With an average entry of $73,277, the firm is sitting on a paper profit of over $28.18 billion.

Despite the market’s lack of immediate bullish movement, institutional players like Strategy and Metaplanet seem to be using the current price range as a strategic accumulation zone.

At the same time, Bitcoin exchange-traded funds (ETFs) saw another day of net inflows, bringing $79.97 million on July 29. This results in a streak of four consecutive days, indicating growing investor confidence.

Volatility Shrinks, But Pressure Is Building

Bitcoin is currently trading at just above $118,000, with minimal movement over the past 24 hours. This low-volatility phase comes as investors rotate their funds into penny crypto tokens. However, market watchers note that it could be calm before the storm.

Notably, the 30-day Bitcoin Volatility Index (BVIV) has dipped to 39.37, well below the 45 mark rarely crossed in the last 149 weeks. A similar setup in September 2023 led to a 50% price rally.

30-day Bitcoin Volatility Index (BVIV) | Source: TradingView

Over the weekend, Bitcoin’s liquidity was tested when an early investor offloaded more than 80,000 BTC (worth $9.6 billion) via Galaxy Digital’s OTC desk. The market swiftly absorbed the shock, temporarily pushing the price down to $115,000 before recovering to $119,000.

Despite this large distribution, Glassnode reports that 97% of all BTC in circulation remains in profit, totaling over $1.4 trillion in unrealized gains.

Several on-chain valuation models suggest Bitcoin is likely to stay range-bound between $105,000 and $125,000. Glassnode predicts that a break above this range could send BTC toward $141,000, where heavier profit-taking is expected.

The post Strategy Scoops Up $2.5B in BTC as ETFs Hit 4 Straight Days of Inflows appeared first on Coinspeaker.

Read the article at Coinspeaker

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Strategy Scoops Up $2.5B in BTC as ETFs Hit 4 Straight Days of Inflows


by Parth Dubey
for Coinspeaker
Strategy Scoops Up $2.5B in BTC as ETFs Hit 4 Straight Days of Inflows

Strategy, previously known as MicroStrategy, has recently purchased another 21,021 BTC BTC $118 419 24h volatility: 0.4% Market cap: $2.36 T Vol. 24h: $37.44 B valued at $2.46 billion, according to data from Lookonchain. This major shopping, made between July 28 and 29, came shortly after the firm raised $2.5 billion through its fourth preferred stock issuance (STRC).

The average purchase price was $117,256 per BTC as the largest cryptocurrency continues to trade around this level since the weekend. This latest buy brings Strategy’s total Bitcoin holdings to 628,791 BTC, now worth around $74.26 billion.

With an average entry of $73,277, the firm is sitting on a paper profit of over $28.18 billion.

Despite the market’s lack of immediate bullish movement, institutional players like Strategy and Metaplanet seem to be using the current price range as a strategic accumulation zone.

At the same time, Bitcoin exchange-traded funds (ETFs) saw another day of net inflows, bringing $79.97 million on July 29. This results in a streak of four consecutive days, indicating growing investor confidence.

Volatility Shrinks, But Pressure Is Building

Bitcoin is currently trading at just above $118,000, with minimal movement over the past 24 hours. This low-volatility phase comes as investors rotate their funds into penny crypto tokens. However, market watchers note that it could be calm before the storm.

Notably, the 30-day Bitcoin Volatility Index (BVIV) has dipped to 39.37, well below the 45 mark rarely crossed in the last 149 weeks. A similar setup in September 2023 led to a 50% price rally.

30-day Bitcoin Volatility Index (BVIV) | Source: TradingView

Over the weekend, Bitcoin’s liquidity was tested when an early investor offloaded more than 80,000 BTC (worth $9.6 billion) via Galaxy Digital’s OTC desk. The market swiftly absorbed the shock, temporarily pushing the price down to $115,000 before recovering to $119,000.

Despite this large distribution, Glassnode reports that 97% of all BTC in circulation remains in profit, totaling over $1.4 trillion in unrealized gains.

Several on-chain valuation models suggest Bitcoin is likely to stay range-bound between $105,000 and $125,000. Glassnode predicts that a break above this range could send BTC toward $141,000, where heavier profit-taking is expected.

The post Strategy Scoops Up $2.5B in BTC as ETFs Hit 4 Straight Days of Inflows appeared first on Coinspeaker.

Read the article at Coinspeaker

Read More

Bitcoin Whales Accumulated 218,570 BTC in 4 Months

Bitcoin Whales Accumulated 218,570 BTC in 4 Months

With the latest buying spree, these whales are now controlling over two-thirds of the...
Bitcoin Dives to a Low of $112,680 as Crypto Carnage Grips the Market

Bitcoin Dives to a Low of $112,680 as Crypto Carnage Grips the Market

Bitcoin took a tumble today, dipping almost 3% versus the U.S. dollar, hitting an int...