Strive Adds 2,000 BTC as Bitcoin Holds Key Support Levels
Bitcoin’s price continues to hold strong above key support levels, bolstered by institutional demand. Strive recently added 2,000 BTC to its holdings, purchasing them for $168.84 million at an average price of $84,422. This acquisition brings Strive’s total Bitcoin holdings to 29,462 BTC, reinforcing the narrative of sustained institutional accumulation.
Despite a 1.00% drop over the last 24 hours, Bitcoin remains well above the important support levels of $68,430 and $62,979. The broader price structure remains constructive, even as momentum weakens slightly. The Relative Strength Index (RSI) stands at 64.08, indicating positive momentum without being overbought, leaving room for further upside if buying pressure returns.
The Moving Average Convergence Divergence (MACD) suggests cautious short-term momentum, with the histogram at -76.26. This indicates that while Bitcoin’s broader upward structure may hold, a more forceful push toward $88,000 would likely require a turnaround in the MACD histogram. Open interest in Bitcoin derivatives stands at about $55 billion, signaling ongoing market participation, but potential volatility remains a factor.
Bitcoin’s Total Value Locked (TVL) in DeFi has increased from $3.6 billion to $4.5 billion, reflecting solid activity in its ecosystem. However, a break above the $88,000 level remains uncertain, as traders await further confirmation from price action and momentum indicators. The $84,000 area also remains significant due to Strive’s recent purchase, making it a key short-term reference point.