Bitcoin Surges as Institutional Giant Acquisitions Fuel New Highs

The price of Bitcoin $106,325 stormed into the week, buoyed by increasing inflation concerns and significant purchases by giants such as MicroStrategy and Metaplanet. This fresh influx of capital into the cryptocurrency market strengthened the upward momentum, pushing the price to the threshold of 107,000 dollars. Experts anticipate new records beyond 108,000 dollars as buyer interest continues to grow.

Institutional Acquisitions Propel Bitcoin Higher Under Inflation Concerns

MicroStrategy expanded its treasury balance by adding Bitcoin worth 764.9 million dollars last week, undeterred by a class action lawsuit against the company. Around the same time, Japanese investment firm Metaplanet purchased 104.8 million dollars’ worth of Bitcoin, increasing its total holdings to approximately 1 billion dollars. These acquisitions are the primary drivers pushing the price into the 107,000-dollar band.

Furthermore, a net inflow of 667 million dollars into US spot ETFs on the first day of the week exemplifies institutions viewing Bitcoin as portfolio insurance. Rising inflation expectations, combined with a search for safe haven assets by investors, added pressure on demand. With Walmart warning of passing increased input costs onto prices, the perception that interest rates may remain high for an extended period strengthened.

Capital, fleeing traditional instruments, has gravitated toward Bitcoin, feeding into the “digital gold” narrative. Simultaneously, individual investors’ stablecoin balances are decreasing, while BTC outflows into cold wallets from exchanges have become notable.

Technical Indicators Suggest Potential for New Record

A sharp rebound from the 102,000-dollar support on the charts facilitated the formation of a classic bullish pattern. Currently, Bitcoin is consistently surpassing the 0.5 Fibonacci level (104,634 dollars), attempting to establish itself above the 0.618 region (105,226 dollars). Should buyers decisively break the 1.0 Fib extension at 107,141 dollars, targets of 110,240 dollars and 115,254 dollars may become attainable.

Meanwhile, the Stochastic RSI remains in overbought territory, indicating an ongoing risk of short-term profit-taking. However, flows into spot ETFs and news of institutional acquisitions are mitigating selling pressures from weaker hands, favoring the bullish scenario.

Experts believe that as long as the price holds around 104,000 dollars, it won’t be surprising for Bitcoin to challenge 108,000 dollars.