Key insights:
- Metaplanet acquired 330 BTC for $28.2M at an average price of $85,605 per BTC on April 21, 2025.
- Total BTC holdings by Metaplanet now stand at 4,855 BTC valued at approximately $414.5 million.
- Bitcoin trading volume rose 85% to 24B after Metaplanet’s announcement.
Metaplanet purchased 330 Bitcoins totaling $28.2 million through a transaction at $85,605 per Bitcoin price on April 21, 2025. With this latest acquisition, the company now holds 4,855 BTC, creating a Bitcoin reserve worth an estimated $414.5 million.
The market reaction to the announcement saw Bitcoin trading volume surge by 85%, reaching $25 billion within hours. Bitcoin price touched $87,000 following the rally, reflecting rising market interest.
The acquisition supports Metaplanet’s long-term Bitcoin strategy. Notably, the firm has consistently expanded its crypto reserves throughout the year. Year-to-date, Metaplanet has reported a 119.3% return on its BTC investments. As markets digest this latest move, focus has now shifted to upcoming key resistance levels in Bitcoin’s price action.
Institutional Demand Drives Market Momentum
Metaplanet’s purchase further reinforces the trend of institutional interest in Bitcoin. The Tokyo-based company’s cumulative holdings place it among the largest public BTC holders globally. The announcement supported bullish momentum, as trading activity increased across spot and derivative markets.
Subsequently, the BTC price rallied past $85,500 and hit $87,000 shortly after. CoinMarketCap data showed BTC price rose 3% in 24 hours. Ethereum and Litecoin gained 3% and 2%, respectively, highlighting improved sentiment across major crypto assets.
On-chain metrics supported this rally. Data from Glassnode showed a 10% increase in active wallet addresses following the announcement. Market participation from both retail and institutional investors has been rising steadily, pointing to growing confidence.
Bitcoin Price Technical Indicators Show Strength Amid Rally
Following the move past $87,000, the MACD indicator gave a bullish crossover signal. The MACD line moved above the signal line, suggesting upward momentum.
At the same time, the MACD histogram turned positive and began expanding, which implies that bullish strength is increasing. The growing histogram bars confirm the continuation of upward pressure.
RSI is currently above 50, indicating bullish momentum, yet still below the overbought threshold at 70. This positioning suggests more room for upside without immediate exhaustion.
The alignment of RSI and MACD signals further validates current market strength and supports the idea of continued bullish action.
Bitcoin Price Levels to Watch After Reclaiming $87K
Bitcoin’s recovery above the $87,000 level has prompted traders to re-evaluate near-term resistance and support zones. According to crypto analyst Doctor Profit, the $77,000 price point remains a critical line of support, termed the “Golden Line.”
The analyst had previously outlined two scenarios—one involving a healthy correction and the other a deeper market retreat. With BTC remaining above $77,000, the risk of a broader pullback appears to have lessened.
Doctor Profit also referenced a key resistance level known as the “Hammer Line,” which has historically led to short-term price rejections. If Bitcoin can consolidate above this line in the coming sessions, further upward movement is possible.
However, if the price returns to the $77,000 level, increased buying activity could emerge, as market investors seek to re-enter positions at lower prices.
Current trading patterns suggest Bitcoin may oscillate between these levels in the short term. As institutional activity continues and liquidity remains high, market observers are watching closely for confirmation of the next breakout direction.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
