09.09.2025 07:14

The cryptocurrency market is kicking off the week with a wave of positive momentum, as the majority of digital assets are posting gains. Bitcoin, the industry's flagship asset, is leading this charge, having impressively recovered from last week's low of $107,000. Currently trading at approximately $112,900 after a 1.55% increase in the last 24 hours, this upward trajectory positions Bitcoin to challenge the critical $113,000 resistance level, potentially paving the way for a surge toward the $117,000 mark in the immediate future.

Fueling this optimistic market sentiment is the continued accumulation of Bitcoin by major corporate players. Notably, Michael Saylor's company, Strategy, has just announced another significant purchase, acquiring an additional 1,955 BTC for roughly $217.4 million, at an average price of $111,196 per coin. This latest acquisition contributes to the company's colossal holdings, which, as of September 7, 2025, stand at 638,460 BTC, acquired for a total of $47.17 billion with an average cost basis of $73,880 per bitcoin.

This trend of corporate adoption is not confined to a single region, as evidenced by a significant acquisition from the Japanese-based firm Metaplanet. The company recently bolstered its treasury reserves by purchasing another 136 bitcoins at an average price of $111,830 each. This move elevates Metaplanet's total Bitcoin holdings to 20,136 BTC, a portfolio now valued at over $2.2 billion, bringing it closer to its ambitious goal of accumulating 30,000 BTC before the year's end.

With this growing bullish momentum from both market performance and institutional investment, internet sources and analysts are increasingly pointing to $117,000 as Bitcoin's next significant price target. However, despite the recent upward run and positive sentiment, a degree of caution is warranted, as some technical analysis of the 4-hour chart continues to indicate underlying bearish signals, creating a complex picture for the asset's short-term outlook.