Bitcoin surpassed the $ 75,000 level on the first day of the week, reinforcing its recent upward momentum. Bitcoin, which fell to the level of $ 63,000 about two months ago, has increased by nearly 25 percent since then, causing market actors to have positive expectations again.
New support and geopolitical developments in global markets
The increase in global risk appetite stood out against the background of the recent movement in Bitcoin price. Cryptocurrency, which overcame the consolidation process in the US markets, lost value at the beginning of the year when global uncertainty increased due to hot developments between Iran and Israel. However, especially in recent days, with the decrease in tension around the Strait of Hormuz, the decrease in short-term concerns in the markets has also been reflected in Bitcoin. It was stated that two commercial tankers passed through the Strait of Hormuz for the first time, and it was announced that the restrictions imposed by Iran would be directed only to rival countries.
Demand from institutions continues to increase
On the institutional demand side, the Strategy company, led by Michael Saylor, purchased an additional $1.57 billion worth of Bitcoin on the last trading day. With the new purchase, the company reached a total of 761,068 Bitcoins, increasing its portfolio value to approximately 50 billion dollars. Corporate investment interest was not limited to the United States; Metaplanet, which is publicly traded in Japan, also raised approximately $255 million from international investors to accelerate its Bitcoin strategy. Additionally, it was stated that a total resource of 530 million dollars could be created thanks to the warrants provided by Metaplanet.
Market is cautious, resistance levels are closely monitored
Despite the rapid rise in the crypto market, it is observed that investors are generally cautious. It is remembered that Bitcoin experienced similar fluctuations during the decline period of 2022, but at that time the price later dropped below the $ 16,000 level. Therefore, a cautious attitude continues in the market against possible profit sales and the risk of a new correction.
Currently, all eyes are on whether persistence above $75,000 can be achieved. It is stated that a permanent move above this level may pave the way for a new rise towards the $ 80,000 band in the medium term. It is known that $ 80,000 worked as an important support zone in the past and played a critical role in the last correction.
Jack Mallers, CEO of Strike, also pointed out that the current market structure is suitable for long-term savings. Mallers highlighted a strategy where investors can make regular purchases regardless of price fluctuations.
According to Jack Mallers, the current period of consolidation creates a significant opportunity for investors to gradually increase asset accumulation. It is stated that such price ranges come to the fore especially to capture long-term movements.
As a result, Bitcoin has strengthened its recovery movement in recent weeks in the short term. With the increase in corporate demand and the easing of tension in the region, whether there will be a new break in the market will take shape in the coming days.
