Bitcoin stays above $62K as MicroStrategy leads BTC ownership
Bitcoin price fell to $62K following a robust weekend, and everyday buying momentum has stalled.
MicroStrategy holds more BTC than any public firm or nation.
Pensions, endowments, and sovereign wealth funds are investing heavily in BTC ETFs, according to Blackrock.
Bitcoin (BTC) price surged over the weekend, liquidating millions of positions. Altcoins are taking liquidity from BTC, starting the week calmly.
Daily market digest: MicroStrategy leads BTC ownership.
Bitcoin reached $64,540 on Saturday. Bitcoin price reached $65,500 in the early Asian session, continuing the weekend surge. After fading momentum, BTC fell back to $63,000.
MicroStrategy reportedly owns more BTC than any public corporation or nation. The US ranks second after Michael Saylor's MicroStrategy at 214,400 with 207,189. China ranks third with 194,000 BTC despite recent crypto limitations.
Given the founder's excitement for BTC, MicroStrategy's investment is expected. Saylor rejected XRP, ETH, BNB, SOL, and ADA at a webinar. Bitcoin is unmatched, in his opinion.
After the halving, CryptoQuant CEO Ki Young Ju says miners must charge at least $80,000 to pay costs. Some predict this might push Bitcoin to $80,000 shortly.
Technical analysis: Bitcoin may correct.
Breaking resistance over the weekend, bitcoin price risks a correction. BTC may correct due to imminent opposition from the 50-day Simple Moving Average (SMA) at $65,930, since markets rarely wait.
The Relative Strength Index (RSI), which is near 50, suggests neither bulls nor bears are leading the market. The Awesome Oscillator (AO) remains negative, putting the market at risk of a bearish takeover.
New BTC investors should wait for confirmation. A move over $67,133 would boost buy orders, but the uptrend would only be consolidated above the supply zone mean at $72,207.
Bitcoin might fall into the declining trendline if bearish recover the market. Bitcoin price could fall below liquidity in a crisis.
