As the cryptocurrency market reveals signs of healing, MicroStrategy, the biggest business Bitcoin (BTC) holder made a huge relocation by buying 7,420 BTC worth $458.2 million. It took 6 days to buildup this significant BTC at an average cost of $61,750, according to the on-chain analytics company Lookonchain.
MicroStrategy’s Recent Bitcoin Purchase
In addition to this current build-up, MicroStrategy bought a huge 18,300 BTC worth $1.11 billion at an average cost of $60,408 inbetween August 6, and September 12, 2024, as reported by CoinPedia.
This considerable build-up of BTC over a brief duration recommends that a huge advantage rally might be impending.
Bitcoin Price Momentum
Currently, the general market belief has moved, and Bitcoin the world’s mostsignificant cryptocurrency has skilled an outstanding cost rise of over 9% over the previous 7 days.
At press time, BTC is trading near $62,860 and has stayed steady over the last 24 hours. During this duration, its trading volume has dropped by 21%, showing lower involvement from traders and financiers inthemiddleof continuous rate turnaround.
Bitcoin Technical Analysis and Upcoming Levels
According to specialist technical analysis, BTC appears bullish and is now heading towards the $65,000 level. Additio