Bitcoin recently experienced a small retrace from its all-time high of $99,800, dropping to a low of $90,700. Despite this pullback, the price action remains bullish as BTC shows resilience and recovers from the dip. Market momentum remains strong, with key players continuing to show confidence in the asset’s long-term potential. 

One notable move came from MARA Holdings, Inc. (MARA), a prominent BTC mining company, which acquired 6,474 BTC worth $615 million. This strategic move by MARA highlights the ongoing institutional demand for BTC, signaling continued confidence in its future growth. The continued buying from institutions suggests that the market is positioned for further bullish trends despite short-term fluctuations. 

As Bitcoin recovers from its recent low, all eyes are on whether it will break through the $100,000 mark shortly. With major players like MARA leading the charge, the outlook for BTC remains strong as it consolidates and prepares for its next upward movement.

Bitcoin Miners Expect An Explosive Cycle

Bitcoin miners are currently taking healthy profits but are not actively selling, suggesting a strong belief that BTC will continue its bullish trajectory in the coming weeks. This strategy of holding rather than selling reflects the broader market sentiment that the price of BTC will continue to rise, despite minor pullbacks. 

One clear example of this trend comes from MARA Holdings, Inc. (MARA), a major BTC mining company. MARA recently acquired 6,474 BTC worth approximately $615 million after completing a $1 billion raise, bringing its total BTC holdings to 34,794 BTC, valued at around $3.3 billion. These newly acquired coins’ average purchase price is $95,395, a strategic move that signals long-term confidence in Bitcoin’s price potential.

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Author: Sebastian Villafuerte