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Bitcoin (BTC) surged 28% in July, reaching highs near $123,200, fueled by growing institutional adoption and strategic accumulation.
Tokyo-listed Metaplanet led the charge, purchasing 780 BTC worth $93 million, bringing its total holdings to 17,132 BTC valued at $1.7 billion. The firm aims to acquire 1% of Bitcoin’s total supply, 210,000 BTC, by 2027, signaling aggressive long-term confidence.
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Despite Bitcoin’s rally, Metaplanet’s stock fell 40% year-to-date due to valuation concerns and investor profit-taking. Nonetheless, this divergence reflects a broader shift, with Japanese firms increasingly adopting Bitcoin as a reserve asset.
Analysts suggest that Metaplanet’s strategy could shape institutional treasury models in volatile macroeconomic conditions.
Bitcoin's price trends to the upside on the daily chart. Source: BTCUSD on Tradingview
$111,500: Bitcoin’s New Strategic Buy Zone
Technical analysts now view the $111,500 level as a key support zone, marking a significant resistance-turned-support flip. Markus Thielen of Matrixport highlights this level as a strategic entry point for investors.
A confirmed bounce could propel BTC toward a breakout above $120,000, pushing a bullish momentum. Consequently, traders are advised to watch for strong volume confirmation around $111K, employing staggered entries and tight stop-losses.
While dips below $112K may present buying opportunities, a sustained decline would require reassessment of risk. The level’s psychological significance aligns with historical resistance flips that often precede long-term rallies.
Altcoin-Focused Funds Suffer as BTC Dominates
While Bitcoin thrives, altcoin-heavy liquid crypto funds have seen dramatic losses. Asymmetric Capital’s Liquid Alpha Fund collapsed by 78% despite Bitcoin’s gains, due to overexposure to speculative altcoins and excessive leverage.
Institutional capital is now favoring utility-driven, revenue-generating projects over memecoins. Experts like Rajiv Patel-O’Connor emphasize that future crypto investments must meet stricter criteria; liquidity, transparency, and token utility.
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As Bitcoin continues to cement its role as a digital reserve asset, the market is clearly pivoting toward sustainable fundamentals.
Bottom Line
Bitcoin’s rally, especially with the institutional momentum and technical bullish signals, marks a pivotal moment for crypto markets. The $111,500 zone could be a rare opportunity for savvy investors seeking structured entry amid broader altcoin turmoil.
Cover image from ChatGPT, BTCUSD chart from Tradingview
Unlock the Secrets of Ethical Hacking!
Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
Enroll now and gain industry-standard knowledge: Enroll Now!
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