Ethereum is weighed down by forced flows, not sentiment. But Bitcoin is just as stubborn, despite a headline buy from the biggest public holder on record. Even record-setting demand can’t pry Bitcoin out of its box right now.
Strategy, Michael Saylor’s firm, is back on top as the largest Bitcoin holder, beating BlackRock by buying over 34,000 Bitcoin this week for nearly $2.5 billion. That vaults its balance sheet to 815,000 coins, worth just over $61 billion now.
But even with the biggest buy of the spring, the price hasn’t budged from its range. The real tension is that these increasingly massive holdings pile up, but the tape stays flat. Ownership headlines mean less when the market just ignores them.
The Bitcoin infographic shows Bitcoin near 76,038, with support at 75,977 and a break target at 76,315. Price is just above support and still below the upside trigger on this chart.
So the setup is simple: Bitcoin is trading between nearby support and the break target. A move above 76,315 tests the upside, while a drop toward 75,808 puts the hold level back in focus.