Bitcoin News Today: Bitcoin surges 28% on institutional buying as Metaplanet adds $93M BTC, eyes $111k support zone.

Bitcoin’s price rallied 28% in July, climbing to a peak near $123,200 amid heightened institutional adoption and strategic accumulation [1]. Tokyo-listed Metaplanet led the surge, acquiring 780 BTC ($93 million) in a single transaction, which raised its total holdings to 17,132 BTC ($1.7 billion). The firm has outlined an ambitious plan to acquire 1% of Bitcoin’s total supply (210,000 BTC) by 2027, underscoring its long-term confidence in the asset as a reserve store of value. Despite Bitcoin’s gains, Metaplanet’s stock has fallen 40% year-to-date, reflecting investor profit-taking and valuation concerns. This divergence highlights a broader trend of Japanese firms increasingly allocating capital to Bitcoin amid macroeconomic volatility.

Technical analysts have identified $111,500 as a critical support zone, a former resistance level that could catalyze further gains. Markus Thielen of Matrixport described this level as a strategic entry point for investors, noting that a confirmed bounce could propel Bitcoin toward a breakout above $120,000 [1]. Traders are advised to monitor volume dynamics around $111,500, employing staggered entries and tight stop-losses to manage risk. A sustained decline below $112,000, however, may signal a reassessment of market positioning. The psychological significance of this level aligns with historical patterns where key resistance-turned-support has preceded prolonged bull runs.

Bitcoin’s dominance has also reshaped fund performance, with altcoin-focused liquid crypto funds suffering sharp declines. Asymmetric Capital’s Liquid Alpha Fund, for example, dropped 78% year-to-date due to overexposure to speculative assets and excessive leverage [1]. Institutional investors are increasingly prioritizing utility-driven projects with tangible revenue streams over speculative tokens, as noted by Rajiv Patel-O’Connor [1]. This shift reflects a broader industry trend toward projects offering liquidity, transparency, and token utility.

The confluence of institutional buying, technical signals, and market sentiment positions Bitcoin at a pivotal inflection point. While risks remain, the $111,500 zone represents a rare structured entry opportunity for investors navigating a fragmented crypto landscape [1].

[1] https://www.newsbtc.com/bitcoin-news/bitcoin-price-surges-28-as-metaplanet-adds-93m-btc-analysts-eye-111k-as-strategic-buy-zone/