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Crypto

Trump Media Buys $300M in Bitcoin Amid Bearish Market Conditions

Guavy AI Editorial Team
Instruments
BTC
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Trump Media has disclosed that it purchased 4,662 Bitcoin for $300 million in July. This acquisition brings its treasury to 14,139 BTC, which is now valued at over $900 million.

The price of Bitcoin currently sits at $63,998.26 on the 4-hour chart and appears to be within a bearish structure.

The moving averages (EMAs) for the 50-period and 200-period are capping upside at $64,516.14 and offering a downside magnet at $63,773.63 respectively.

The MACD death cross is confirmed with a reading of -24.3, indicating momentum loss, while the RSI is at 36.5, leaving room for further compression before any relief.

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