Strategy Buys $138 Million in Bitcoin, Boosts Holdings to 847,666
Strategy, an investment firm, has made a significant acquisition of Bitcoin. The company acquired 1,666 BTC for $138 million, increasing its total holdings to 847,666 Bitcoin. This move has shifted Strategy's unrealized profit from a loss of $10 billion last month to a gain of $6.4 billion.
The price action on the four-hour chart shows Bitcoin currently trading at $83,377.28 within the Bollinger Bands. The upper resistance is at $85,177.62 and lower support at $83,021.09. The Moving Averages (EMAs) are also significant, with the EMA50 at $83,465.16 capping any upside potential and the EMA200 at $78,886.79 anchoring the longer-term floor.
The MACD death cross is currently at -146.86, reinforcing bearish momentum. However, the Relative Strength Index (RSI) is at 42.94, indicating a neutral reading and suggesting that Bitcoin may test the 50-EMA before any sustained move higher.