According to the 15-minute chart of Jbg Smith, a KDJ Death Cross and Bearish Marubozu pattern was observed on July 1, 2025 at 09:45. This indicates a shift in the momentum of the stock price towards the downside, potentially leading to further decreases in value. Sellers currently dominate the market, and it is likely that this bearish momentum will continue.
Title: Bitcoin's Consolidation Around $107,000 Amidst Market Sentiment and Institutional Buying
Bitcoin (BTC) is currently consolidating around $107,000 following a significant rally that saw the flagship cryptocurrency reclaim key levels during the week. Despite a temporary pause in the upward trend, analysts remain optimistic about a potential push to $110,000. This comes after Bitcoin plunged below $100,000 on Sunday, but recovered to reclaim $100,000 and push towards $105,000 on Monday.
Bitcoin treasury firm Metaplanet has recently purchased an additional 1,234 BTC worth $132 million, bringing its total holdings to 12,345 BTC, valued at over $1.3 billion. This purchase is Metaplanet's third-largest Bitcoin buy to date, and the firm aims to increase its holdings to 100,000 BTC by 2026. The purchase was made at an average price of $108,129 per coin, although the exact date of the purchase was not disclosed [1].
Institutional interest in Bitcoin continues to grow. According to data from Bitcoin Treasuries, over 140 publicly traded firms hold Bitcoin on their balance sheet, amassing $90 billion worth of Bitcoin. Michael Saylor’s Strategy accounts for two-thirds of this amount, holding over $64 billion worth of Bitcoin. The latest purchase makes Metaplanet the seventh-largest holder of Bitcoin [1].
Meanwhile, an Indian politician has called for a Bitcoin reserve pilot, suggesting it could be a strategic step towards economic resilience. Bharatiya Janata Party spokesperson Pradeep Bhandari believes that India could create a sovereign Bitcoin strategy by leveraging its expanding renewable energy infrastructure. However, India's tax policy indicates uncertainty, with crypto being unregulated but heavily taxed [1].
Canadian Bitcoin lending company Bitcoin Treasury Corporation (BTCT) is set to resume trading on the Toronto Stock Exchange (TSX) Venture Exchange. The company announced its common shares will trade under the ticker BTCT from Monday. The trading resumed after a brokered offering raising $92 million in gross proceeds. BTCT used a portion of the proceeds to purchase 292.8 BTC at $31.5 million, marking the company’s first major Bitcoin purchase since launching its Bitcoin accumulation and institutional lending strategy [1].
Analysts believe a bullish breakout is coming for Bitcoin, with two major indicators supporting their argument. The daily chart shows that Bitcoin has maintained its position above the 100-day Exponential Moving Average (EMA), which provided support since April. Additionally, Bitcoin has formed a bullish flag pattern consisting of a vertical line and a descending channel. The pattern also ensured Bitcoin maintained its position above $105,000, indicating a potential shift in market structure, adding weight to the flagship cryptocurrency’s ongoing recovery [1].
However, market sentiment is divided, with Bitcoin registering a sharp drop on Tuesday, falling over 2% and slipping below the 20-day SMA and $105,000 to $104,519. It recovered on Wednesday but was back in the red on Thursday, settling at $104,631. Selling pressure intensified on Friday as Bitcoin fell 1.19%, slipping below the 50-day SMA and settling at $103,388. Sellers retained control on Saturday as the flagship cryptocurrency fell to an intraday low of $100,979 before settling at $102,180. Bitcoin plunged to an intraday low of $98,385 on Sunday as market sentiment turned bearish. However, it rebounded from this level to reclaim $100,000 and settle at $100,982 [1].
Bullish sentiment returned on Monday as the price surged over 4% to reclaim $105,000 and settle at $105,442. Buyers retained control on Tuesday as Bitcoin crossed $106,000 on Tuesday and $107,000 on Wednesday to settle at $107,393. The price lost momentum on Thursday, dropping 0.39% to slip below $107,000 and settle at $106,970. Bitcoin is marginally down during the ongoing session as buyers and sellers struggle to establish control [1].
References
[1] https://bitzo.com/2025/06/bitcoin-price-analysis-btc-continues-to-consolidate-around-107000
Comments
No comments yet