Bitcoin Slips Below $116,000 as Metaplanet Acquires 775 BTC
Bitcoin (BTC) dropped below $116,000, reversing from last week's high above $124,000. This decline is attributed to inflation concerns in the U.S. and uncertainty regarding Federal Reserve policy. Currently, BTC is around $115,300, with support at $115,000. Analysts indicate a potential drop to $112,500 if this support fails, but recovery may lead to prices around $120,000.
Short-term holder data shows limited selling pressure, with the Net Unrealized Profit/Loss ratio at 0.07, significantly below the 0.25 threshold associated with profit-taking.
Metaplanet Expands Bitcoin Treasury
Metaplanet Inc. has purchased 775 BTC at an average price of about $122,000, increasing its total holdings to 18,888 BTC. This move indicates institutional confidence in Bitcoin as a treasury asset. The company reported significant gains, including a 129.4% increase from April to June 2025 and 29.3% from July to mid-August.
Market observers are divided on whether this correction signals a buying opportunity or deeper declines. If BTC can hold $117,261, it may rise toward $127,000. A breakout beyond that could approach $144,000, where previous corrections have occurred.
The current market dynamics, characterized by institutional buying and corporate treasury adoption, suggest that the pullback might be viewed as an opportunity for strategic accumulation rather than a peak.