Bitcoin Price Analysis: BTC Continues To Consolidate Around $107,000

Bitcoin (BTC) is consolidating around $107,000 as it takes a breather after reclaiming key levels during the week. The flagship cryptocurrency plunged below $100,000 on Sunday as market sentiment worsened. A ceasefire announcement saw markets recover, reclaim $100,000, and push towards $105,000 on Monday. 

Despite a pause in the rally, analysts remain optimistic about a push to $110,000. BTC is marginally down over the past 24 hours, trading around $107,000. 

Metaplanet Pushes Bitcoin Holdings Past $1.3 Billion After 1,234 BTC Purchase 

Bitcoin treasury firm Metaplanet has purchased an additional 1,234 BTC worth $132 million, bringing its total Bitcoin holdings to 12,345 BTC, worth over $1.3 billion. The purchase is the firm’s third-largest Bitcoin buy to date, according to a disclosure released on Thursday. Metaplanet purchased Bitcoin at an average price of $108,129 per coin. However, the purchase date was not disclosed. Metaplanet aims to increase its Bitcoin holdings to 100,000 BTC by 2026. 

Metaplanet is just one of many publicly traded firms that have pivoted to Bitcoin, adding the asset to their balance sheet. According to data from Bitcoin Treasuries, over 140 publicly traded firms hold Bitcoin on their balance sheet, amassing $90 billion worth of Bitcoin. Michael Saylor’s Strategy accounts for two-thirds of this amount, holding over $64 billion worth of Bitcoin. The latest purchase makes Metaplanet the seventh-largest holder of Bitcoin. 

Indian Politician Calls For Bitcoin Reserve Pilot 

A spokesperson for India’s ruling party has urged the government to consider launching a Bitcoin reserve pilot, believing it to be a strategic step towards economic resilience. Bharatiya Janata Party spokesperson Pradeep Bhandari stated in an article that the US strategic Bitcoin reserve and Bhutan’s state-led mining operations signal a shift towards crypto in global financial markets. The spokesperson said that India could create a sovereign Bitcoin strategy by leveraging its expanding renewable energy infrastructure. 

“This isn’t a reckless pivot. It’s a calculated step toward embracing digital assets.”

However, India’s tax policy indicates uncertainty. Crypto in India is unregulated but heavily taxed, with the government imposing a hefty 30% flat rate tax on virtual digital assets. However, it has been slow to establish a regulatory framework for crypto. Under section 115BBH of India’s Income Tax Act, all profits acquired by selling crypto are taxed at 30%. While traders can deduct purchase costs, there are no provisions for other expenses and losses. A 1% TDS also applies to all crypto transactions. 

According to Bhandari, India must offer regulatory clarity, beginning with the sovereign Bitcoin reserve. He added that regulations could bring transparency and oversight to the emerging asset class, enabling innovation while protecting users. Bhandari concluded, 

“India stands at a pivotal juncture,” Bhandari wrote. “A measured Bitcoin strategy —perhaps a reserve pilot — could strengthen economic resilience and project modernity.”

Bitcoin Treasury Corporation To Relist On Toronto Exchange 

Canadian Bitcoin lending company Bitcoin Treasury Corporation (BTCT) is set to resume trading on the Toronto Stock Exchange (TSX) Venture Exchange. The company announced its common shares will trade under the ticker BTCT from Monday. The trading resumed after a brokered offering raising $92 million in gross proceeds. The company issued shares at 10 CA$ ($7.32) each. The financing was supported by a concurrent capital raise. 

BTCT also used a portion of the proceeds to purchase 292.8 BTC at $31.5 million. This is the company’s first major Bitcoin purchase since launching its Bitcoin accumulation and institutional lending strategy. The firm plans to use its Bitcoin reserves to offer clients liquidity solutions. It also plans to publish its initial Bitcoin share per figure after concluding its acquisition phase. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) is trading around $107,000 as its rally takes a breather around $107,000. The flagship cryptocurrency started the week with a substantial rally after President Trump announced a ceasefire between Israel and Iran. As a result, BTC reclaimed $105,000 and ended the day at $105,442. Analysts believe BTC is on the cusp of a bullish breakout and could potentially set a new all-time high. A potential catalyst is the decline in the US Dollar Index (DXY), with President Trump considering candidates to replace Jerome Powell as Fed Chair. Powell’s term ends in May 2026. The US Dollar Index has fallen 12% this year, with Morgan Stanley anticipating an additional 9% decline. Leading candidates include Scott Bessent, Kevin Hassett, and Kevin Warsh. 

President Trump has been highly critical of Powell, repeatedly urging the Fed Chair to cut interest rates. However, Powell reiterated the central bank’s wait-and-see stance. Richmond Fed President Tom Barkin agreed with Powell, stating, 

“There is little upside in heading too quickly in any one direction. Given the strength in today’s economy, we have time to track developments patiently and allow the visibility to improve.”

Analysts believe a breakout is coming, with two major indicators supporting their argument. The daily chart shows that BTC has maintained its position above the 100-day Exponential Moving Average (EMA), which provided support since April. Additionally, Bitcoin has formed a bullish flag pattern consisting of a vertical line and a descending channel. Analysts also noted the formation of a bullish engulfing candlestick, reversing the weekend’s bearish price action. The pattern also ensured BTC maintained its position above $105,000, indicating a potential shift in market structure, adding weight to the flagship cryptocurrency’s ongoing recovery. However, despite the bullish setup, market sentiment is divided. BTC has recorded 19 instances of the bullish engulfing pattern meeting the defined confirmation criteria. Of these, 15 led to new local highs in the following days or weeks. More importantly, 19 instances occurred within a broader bull market context. The prevailing bull market structure indicates a statistically favorable environment for continuing the current price action, potentially pushing BTC to new highs. 

BTC registered a sharp drop on Tuesday, falling over 2%, slipping below the 20-day SMA and $105,000 to $104,519. It recovered on Wednesday, rising 0.35% to $104,884, but was back in the red on Thursday, registering a marginal decline and settling at $104,631. Selling pressure intensified on Friday as BTC fell 1.19%, slipping below the 50-day SMA and settling at $103,388. Sellers retained control on Saturday as the flagship cryptocurrency fell to an intraday low of $100,979 before settling at $102,180. BTC plunged to an intraday low of $98,385 on Sunday as market sentiment turned bearish. However, it rebounded from this level to reclaim $100,000 and settle at $100,982.

Source: TradingView

Bullish sentiment returned on Monday as the price surged over 4% to reclaim $105,000 and settle at $105,442. Buyers retained control on Tuesday as BTC crossed $106,000 on Tuesday and $107,000 on Wednesday to settle at $107,393. The price lost momentum on Thursday, dropping 0.39% to slip below $107,000 and settle at $106,970. BTC is marginally down during the ongoing session as buyers and sellers struggle to establish control.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.