MicroStrategy Buys Over 10,000 BTC – Another Signal of a Long-Term Supply Squeeze
Michael Saylor, the executive chairman of MicroStrategy (now rebranded as Strategy), has once again stunned the crypto world by confirming the purchase of another 10,100 BTC, totaling over $1.04 billion USD. This latest buy-in brings Strategy’s total holdings to 592,000 Bitcoin, acquired at an average price near $104,000 – an astounding investment of almost $42 billion to date.
With Bitcoin’s hard cap of 21 million coins, of which millions are lost or permanently dormant, Saylor’s aggressive accumulation continues to reduce the available supply. Add in the million BTC allegedly controlled by Satoshi Nakamoto and coins trapped in cold wallets, and the real circulating supply may be closer to 14–15 million coins, or less.
These strategic acquisitions by institutional whales like Strategy could inevitably lead to a Bitcoin supply shock, where dwindling availability forces buyers to pay increasingly higher prices. Even if these bulk buys don’t immediately impact price due to their OTC (Over-the-Counter) nature and algorithmic execution via VWAP or TWAP, the long-term effect is undeniably bullish.
Bitcoin Price Analysis: Bullish Structure Holds Despite Short-Term Consolidation
Zooming into the charts, Bitcoin on the weekly timeframe is still within a confirmed bullish super trend. However, momentum is clearly slowing. The MACD is trending toward a bearish crossover, and RSI shows a bearish divergence, with price forming higher highs while the RSI prints lower highs.
As of now, BTC is trading sideways between $101,000–$110,000, caught in a broader range consolidation. Immediate resistance remains at $110,000–$112,000, while key support sits between $101,000–$102,000. A break below that level could trigger a drop to $96,000–$97,000. Conversely, if Bitcoin reclaims $110,000+, it may attempt a breakout toward $115,000–$120,000.
The Bitcoin liquidation heatmap further supports this sideways narrative, with clusters of liquidity stacked between $111,000–$112,000, and downside pockets forming near $104,000, $102,500, and $100,000.
As of now, market behavior suggests short-term choppiness within a bullish macro trend. Large players remain in accumulation, not distribution. Traders and investors should view this as a potential buy-the-dip opportunity rather than a bearish breakdown.
Ethereum, Solana, XRP, and Chainlink Price Outlook: Sideways But Supported
Ethereum (ETH)
ETH remains range-bound between $2,400–$2,800. There’s clear resistance around $2,700–$2,800, while support holds near $2,400–$2,500. A bearish divergence persists on the daily RSI, limiting bullish momentum.
Until ETH breaks above $2.8K, the path of least resistance remains sideways. However, strong underlying demand and consistent DeFi usage suggest Ethereum is simply building a base before its next leg up.
Solana (SOL)
Solana has managed to hold above $143–$146, an important support zone. A potential double-bottom (W pattern) could form if the price breaks above $167. But until that breakout occurs, expect SOL to remain range-bound like BTC and ETH.
A breakdown below $143 would likely send SOL toward $124–$125. But for now, the bullish divergence on shorter timeframes offers hope for upward continuation, albeit slowly.
XRP
XRP is trading within a tight band of $2.05–$2.35, showing little momentum either way. MACD is flat, and RSI is neutral. Traders should watch for a breakout above $2.36 or a breakdown below $2.05 for the next directional move.
If support fails, XRP could revisit $1.80, while a breakout could lead to $2.44–$2.60. However, XRP continues to mirror Bitcoin’s broader trend, moving sideways for now.
Chainlink (LINK)
Chainlink is holding steady between $12.80–$15.50. There’s minor resistance at $14.10–$14.20, where the price recently faced rejection. While a bullish divergence on the 2-hour chart has played out, LINK has since cooled off and is lacking short-term follow-through.
A confirmed breakout above $15.50 would be a strong bullish signal, while a breakdown below $12.80 could send LINK back toward $12.10–$12.20, or even $10–$11 in a deeper correction.
Range-Bound Crypto Market Still Offers Major Long-Term Opportunity
Despite choppy, directionless price action across most major altcoins, the macro trends remain bullish. Bitcoin whales like MicroStrategy are aggressively accumulating. Ethereum, Solana, XRP, and Chainlink are holding key support levels, building bases rather than collapsing.
This is not a bear market. This is a sideways consolidation phase within a larger bull cycle. As liquidity continues to dry up, supply shocks could drive prices significantly higher. If history is any guide, these long consolidations often precede explosive upside moves.
Smart investors are not exiting the market – they are positioning themselves early. While short-term volatility may frustrate some traders, the big picture remains clear: crypto adoption is rising, institutional demand is growing, and coins like Bitcoin are becoming digital gold.
BONUS: Get Set Up for the Next Move
Want to take advantage of these moves? Platforms like 2Bit and Bybit offer:
- Up to $50,000 in trading bonuses
- No KYC required
- 20% deposit rebates
- Global access
Use the official links below this article to sign up and claim your exclusive bonuses today.
