Despite the Bitcoin market witnessing a downturn, corporate Bitcoin acquisition shows no signs of slowing down. Is this indicative of a stronger rally in the near future?
Bitcoin maintains a steady position above the $85,000 mark, indicating a subtle upward inclination post a period of price stagnation. The asset has seen an increase of 2.2% on the daily chart today, sparking optimism in some traders about a potential stronger rally. However, a more comprehensive timeframe suggests a contrasting scenario.
Over the past month, Bitcoin has suffered a dip of over 8%, and the decrease from its January 2025 peak of over $109,000 stands at a substantial 20%.
Corporate Bitcoin Accumulation Rises as Long-Term Holders Sell
Contrary to the market downturn, CryptoQuant, a blockchain data provider, has released information about corporate Bitcoin accumulation during Q1 of 2025. The data reveals an assertive accumulation trend among public companies, with these firms adding a total of 91,781 BTC to their balance sheets from January to March. This suggests an enduring belief in the long-term value of Bitcoin.
Among the most prominent buyers were Tether, who added 8,888 BTC, bringing its total to 92,646 BTC, and MicroStrategy, who purchased 81,785 BTC valued at over $8 billion. Other significant participants included Semler Scientific (+1,108 BTC), Metaplanet (+2,285 BTC), and The Blockchain Company (+605 BTC).
Further, it was reported that Marathon Digital is planning a $2 billion stock sale to fund future Bitcoin purchases. Similarly, GameStop is considering a $1.3 billion convertible note offering to facilitate its entry into Bitcoin investment.
Nonetheless, these substantial acquisitions were not sufficient to sustain Bitcoin’s price. CryptoQuant noted that long-term holders sold around 178,000 BTC during the same period, contributing to significant sell pressure. This situation was aggravated by outflows of approximately $4.8 billion from spot Bitcoin ETFs, which further pressured the price.
Bitcoin’s Significant Support Levels Identified
A CryptoQuant analyst, BorisVest, has identified a vital support zone for Bitcoin between $65,000 and $71,000. Derived from two specific metrics – the Active Realized Price and the True Market Mean Price – this range could indicate potential strong demand from long-term holders and institutional buyers if Bitcoin’s price falls within this zone. This could serve as a foundation for further accumulation and possibly trigger a new upward phase.
Despite some market participants exiting their positions, others are leveraging this consolidation period to accumulate.
