News Headlines
Price Action
Bitcoin continues to rally from the lows of the 1-year moving average. Since BTC tapped that critical bull market support level, it has rallied up higher.
It is now approaching two major support levels of the 200-day moving average and the range support (now turned resistance) from Q4 2024 and Q1 2025.
Figure 1: BTC now approaching the 200-day moving average.
If Bitcoin is able to break through the 200-day moving average to convincingly hold above +$90,000 it will bring a surge of confidence back to the market that has been severely lacking in recent weeks.
Bitcoin remains down -20% over the past 3 months, but sentiment can shift quickly and we would expect it to do so if BTC can reclaim the 2300-day moving average and $90,000.
Figure 2: BTC attempting to recover from its recent losses.
The Big Story: Bitcoin Treasury Titans Now Hold Over 3% of Total Supply
The top 10 publicly known Bitcoin treasury companies have collectively crossed a major milestone - together they now hold more than 3% of Bitcoin’s fixed 21 million supply. That’s over 630,000 BTC, a powerful signal of long-term institutional conviction in Bitcoin’s role as a strategic reserve asset.
Leading the pack is Strategy (formerly MicroStrategy), whose aggressive accumulation has set the tone for corporate adoption. Other major holders include Tesla, Block, and several Bitcoin mining firms that continue to stack BTC on their balance sheets instead of selling.
Figure 3: The Bitcoin Treasury Top 10.
This consolidation of bitcoins into corporate hands reflects a broader shift in Bitcoin's market structure - from speculative retail flows to strategic institutional positioning.
As supply tightens and demand grows, the implications are significant. With only 21 million coins ever to exist - and fewer than 2 million left to be mined - every sat counts. Institutions are not just dipping toes anymore; they’re locking in large stakes for the long haul, and that could dramatically reshape Bitcoin’s scarcity narrative in the years ahead.
Earlier today, Metaplanet announced a new purchase of 330BTC, taking their total bitcoin holdings to 4,855. But many other companies are now not only acquiring bitcoin for their balance sheet, but are also copying the Saylor playbook of corporate treasury management to create more funds for more bitcoin purchases too. So we anticipate the top 10 Bitcoin treasury companies will soon hold significantly more than 3% of the total 21 million bitcoin.
This is not surprising when CEOs of companies see that Saylor’s (Micro)Strategy is currently sitting on a whopping $9.32B Bitcoin Treasury gain since adopting its Bitcoin strategy.
Figure 4: (Micro)Strategy Treasury is in $9.32B profit.
Add to that its share performance since adopting the Strategy, a gain of 2,466%.
Figure 5: (Micro)Strategy stock performance since adopting Bitcoin.
The corporate demand for Bitcoin is real and with numbers like these, we expect many CEOs to be copying the Saylor playbook in 2025.
Live Chart Review: Fed Rates vs BTC
Figure 6: Fed Rates vs BTC
What is Fed Funds Target Range?
The Federal Open Market Committee (FOMC) sets the circle Federal Funds Target Range (FFTR), which is the interest rate at which commercial banks lend and borrow their excess reserves to each other overnight.
The FOMC meets eight times a year to set the FFTR.
The FOMC sets a target range.
The effective interest rate is then a number between the lower and upper bounds of the target range.
Rising interest rates can impact confidence in markets, this can potentially spill over to Bitcoin. Rising interest rates can cause some investors to move towards perceived low-risk assets such as fixed-rate bonds.
Latest data
Currently the Fed funds rate range is between 4.25% to 4.5%.
Markets are grappling with uncertainty due to President Trump's intensified pressure on the Fed to cut rates and his suggestion of removing Chair Jerome Powell, actions that could undermine the central bank's independence.
This political interference, coupled with inflationary concerns from recent tariffs, has led to market volatility, a weakened dollar, and investor apprehension about the Fed's future policy direction.
While there is a short-term risk due to market uncertainty, all this activity fuels Bitcoin’s core narrative as an alternative to the human-reliant, imperfect current monetary system.
Speak again soon.
The Bitcoin Magazine Pro Team.