Bitcoin demonstrates confidence and stability against the background of Microstrategy and GameStop purchases

10x Research analysts noted that in the last days of March, the Bitcoin (BTC) rate temporarily entrenched above $ 87,000, confirming the upward trend. The price of the asset remained above the 7-day and 30-day sliding average, which indicates the confidence of investors. In a week, the asset went up by 3.8%, despite the pressure of macroeconomic factors. The main growth drivers were institutional investments and positive news from large companies. However, it is worth noting that later the quotes of the digital coin dropped to $ 85,000.

Researchers recalled that Strategy acquired 6911 BTC, increasing the total amount of their assets to more than 500 thousand coins. Buying by the largest corporate holder strengthened the market position of cryptocurrency. In addition, GameStop announced the attraction of $ 1.3 billion in order to purchase BTC as a backup asset. This caused the growth of the market, but the shares of the company itself after the announcement decreased sharply.

Another positive factor was the expansion of BlackRock in the field of blockchains. The management company that controls the trillions of dollars continues to build up positions in cryptocurrency, which attracts new institutional investors. An additional incentive was the preservation of high activity in the Bitcoin-ETF sector.

Despite the positive signals, Bitcoin has not yet been able to overcome the level of $ 90,000. Investors carefully evaluate macroeconomic risks, including fears about new tariffs and possible tightening monetary policy in the United States. These factors limit further growth, but do not change the general positive trend. Technical indicators indicate the continuation of the ascending trend. Holding the price above the key average sliding lines indicates strong support from buyers.

Author

Peter Ivanov