Bitcoin ($BTC) is currently holding above $95,000, and its imminent breakout of a short-term triangle could be up or down. Meanwhile, Michael Saylor’s MicroStrategy has just bought another $1.5 billion BTC, and the U.S. Spot Bitcoin ETFs also chipped in on Monday with $ 4.22 billion in BTC.

MicroStrategy buys again

With its latest acquisition of 15,400 BTC, worth $1.5 billion, MicroStrategy just continues to eat up a scant supply of $BTC from the market. The MicroStrategy holdings now total 402,100 BTC, bought at a price of $58,263 per Bitcoin.

U.S. Spot Bitcoin ETFs further decrease a scant supply of $BTC

Fresh on the heels of the MicroStrategy announcement, the U.S. Spot Bitcoin ETFs bought another 4.34K BTC on Monday – further decreasing the scarce supply. As per usual, the Blackrock IBIT ETF bought the lion’s share of this with a 3.47K BTC purchase.

U.S. government selling $2 billion in BTC?

Amid all this strong buying, the U.S. government moved almost $2 billion in $BTC to the Coinbase Prime exchange on Monday. It’s not clear whether the objective is to sell the $BTC, but this kind of wallet movement could have been done with this aim in mind.

Since the U.S. government BTC movement became apparent, it did spark a slight downward movement in the Bitcoin price, but with MicroStrategy et al., buying a similar amount, there isn’t necessarily going to be a huge dip if this indeed does become a sale.

$BTC breakout approaching on short-term time frame

Source: TradingView

The 4-hour chart for $BTC shows that the price is still traversing inside a triangle. This means lower highs, but higher lows. Therefore, a decision mome

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Author: Laurie Dunn