After two weeks of calm in the Bitcoin market, the world’s largest publicly traded BTC holder, Strategy Inc., has returned to the spotlight. Between May 4 and May 10, the company acquired 535 BTC at an average price of $80,340. With this purchase, its total Bitcoin reserve has grown to 818,869 BTC, bringing its overall investment cost to $61.86 billion. The average cost per Bitcoin now stands at $75,540.
Company policies and investor reactions
Since 2020, Strategy Inc. has followed a policy of funding Bitcoin purchases through share sales. The latest acquisition was financed by selling $42.9 million worth of shares and issuing $100,000 in Stretch (STRC) preferred stock. After its last purchase at the end of April, the company briefly paused buying, sparking debate when Chairman Michael Saylor commented that Bitcoin sales could take place if necessary.
Some market participants saw Saylor’s remarks as potentially negative for both company shares and the BTC price, given the company’s symbolic status as a massive Bitcoin holder. However, Saylor swiftly signaled renewed buying intent, to which the market responded positively. Company shares rose 4.3% pre-market to $187.50, while the price of Bitcoin gained 1%, moving just below $82,000. According to CryptoAppsy data, BTC is currently trading at $81,200.
Technical indicators: Golden cross in sight
The timing of Strategy Inc.’s latest buy also coincided with a key technical moment. The widely observed Market Value to Realized Value (MVRV) ratio for Bitcoin is approaching a crossover above the 200-day exponential moving average (EMA). Analyst CW8900 describes this as a strong indication of a potential trend reversal to the upside.
In a post on X, CW8900 remarked: “The $BTC MVRV ratio is on the verge of a golden cross with the 200-day EMA, signaling a trend reversal and serving as a bullish indicator.”
Historical data highlights the significance of such golden cross events. After the November 2022 market bottom, the first MVRV golden cross triggered a quarterly rally of 90% in Bitcoin. The second such event, in September 2023, drove the price up by 400%, leading to an all-time high of $126,198 on October 6, 2025. Now, as Bitcoin consolidates around $81,200, the prospect of a third confirmation is drawing attention.
Short-term investor cost bands also suggest continued upside potential. The current “heated zone” is at $92,000, while the “overheated zone” stands at $104,000. Historically, Bitcoin price has faced resistance in this band, often leading to accelerated profit-taking between $92,000 and $104,000.
Analysts mention that, should the positive momentum from technicals and demand persist, a “super cycle” could carry Bitcoin into the $180,000–$250,000 range during 2026. For now, though, the key resistance is at the 200-day moving average of $82,500. Breaking above this could pave the way for further gains, but failure to hold the level risks a pullback toward $50,000.
US regulation process shapes the outlook
Beyond technical improvements, the US political climate for crypto has also seen significant shifts in recent weeks. On May 14, the Senate Banking Committee will vote on the comprehensive CLARITY Act, intended to frame the structure of the digital asset market. This represents the most concrete step yet toward a major federal crypto law in US history.
A bipartisan agreement reached on May 1 will ban stablecoin products equating to bank deposits, yet allow rewards based on transactions and platforms. Representatives from Coinbase, Circle, and others in the industry have expressed support for the bill, while banks are following legislative progress with some reservations.
A nationwide HarrisX poll found that 52% of voters support the legislation, with the figure rising among those familiar with its contents. The bill is not yet in effect; it must first clear the committee and general assembly, then be reconciled with the version passed by the House of Representatives in July 2025 before finally receiving President Donald Trump’s signature. The White House is targeting July 4 as a completion date.
Market analysts reviewing recent developments have identified three major catalysts for the market: Strategy Inc.’s first Bitcoin purchase after a long pause, strengthening technical signals, and the imminent passage of landmark crypto regulation in the US.
