Bitcoin is once again under pressure as it struggles to break above $114,000 while failing to close decisively below $110,000, creating a tight range that reflects uncertainty in the market. Bulls are losing ground as momentum shifts, and fear is beginning to spread among traders and investors. The inability to reclaim higher levels highlights the weight of selling pressure, with some analysts warning of a possible deeper correction if demand doesn’t increase soon.

Still, strong fundamentals continue to support the long-term market outlook. Institutional adoption remains a key driver, with more companies quietly adding BTC to their treasuries despite short-term volatility. Macroeconomic conditions, particularly rising inflation concerns, are also keeping Bitcoin relevant as a hedge, even as markets wobble.

Adding to this narrative, blockchain analytics platform Lookonchain reported that Metaplanet, Japan’s first and only publicly listed Bitcoin Treasury company, bought another 1.36 BTC ($15.26M) at an average price of $112,180. This purchase pushes its holdings further, reinforcing its long-term conviction in Bitcoin as a reserve asset.

Institutional Adoption Strengthens Bitcoin

According to Lookonchain, Metaplanet now holds 20,136 BTC valued at approximately $2.24 billion, with an average purchase price of $102,495. This milestone underscores the company’s conviction in Bitcoin as a long-term treasury asset. Unlike many firms that only experiment with small allocations, Metaplanet has cemented itself as Japan’s leading corporate adopter of Bitcoin, reflecting a broader global shift in institutional strategies.

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Author: Sebastian Villafuerte