Bitcoin (BTC) Price: Rallies Past $112K as Strategy Adds More BTC

TLDR

• Bitcoin rose above $112,000 but derivatives data shows traders remain cautious despite the rally
• Spot Bitcoin ETFs recorded $383 million in net outflows between Thursday and Friday
• Nasdaq officially filed with SEC to allow trading of tokenized U.S. equities, boosting blockchain legitimacy
• Major institutions continue accumulating BTC, with Metaplanet adding 136 BTC and MicroStrategy acquiring 1,955 BTC
• Technical analysis shows Bitcoin consolidating in ascending triangle pattern with potential breakout above $113,400

Bitcoin price climbed above $112,000 on Monday, recovering from the $108,000 level seen the previous week. The cryptocurrency is currently trading at $112,341, representing a 0.98% gain over the past 24 hours.

Despite the upward movement, Bitcoin derivatives markets continue to show persistent caution among traders. The BTC options delta skew currently stands at 9%, indicating that put options are priced at a premium compared to equivalent call options.

This pricing structure typically signals risk aversion among market participants. On Monday, demand for put options increased, reversing the trend from the prior two sessions and pointing to stronger appetite for neutral-to-bearish strategies.

The cautious sentiment partly stems from Bitcoin’s inability to mirror fresh all-time highs in both the S&P 500 and gold markets. Weaker-than-expected U.S. labor market figures have reinforced expectations of monetary easing.

Traders now assign a 73% probability that interest rates will fall to 3.50% or lower by March 2026, up from 41% just one month ago according to the CME FedWatch tool.

Adding to market concerns, spot Bitcoin ETFs recorded $383 million in net outflows between Thursday and Friday. These withdrawals likely unnerved investors even though Bitcoin successfully held the $110,000 support level.

Institutional Accumulation Continues

Despite market caution, institutional and sovereign buyers continue to accumulate Bitcoin holdings. Japanese firm Metaplanet added 136 BTC this week, raising its total holdings to more than 20,000 BTC worth over $2 billion.

El Salvador celebrated “Bitcoin Day” with a symbolic purchase of 21 BTC, lifting the nation’s reserves to 6,313 BTC. MicroStrategy acquired another 1,955 BTC worth approximately $217 million, bringing its total holdings to 638,460 BTC.

These purchases cement MicroStrategy’s position as the largest corporate Bitcoin holder worldwide. The continued institutional buying occurs as competition from Ether as a corporate reserve asset gains traction, with companies allocating an additional $200 million over the past week.

Bitcoin’s perpetual futures funding rate currently sits at a neutral 11%, marking an improvement from the bearish 4% level observed on Sunday. Under normal conditions, funding rates typically range from 6% to 12%.

Nasdaq Tokenization Development

Market dynamics received a boost from Nasdaq’s official filing with the SEC to allow trading of tokenized U.S. equities. This landmark proposal would allow investors to choose between conventional stock trades and blockchain-backed tokens.

If approved, the move would modernize financial markets and underscore the growing relevance of blockchain infrastructure in mainstream finance. The development could accelerate institutional adoption by providing new legitimacy for blockchain-based settlement systems.

From a technical perspective, Bitcoin is consolidating in an ascending triangle pattern. Price action shows the cryptocurrency pressing against resistance at $113,400 while making higher lows since late August.

The 50-day simple moving average at $111,230 provides support, while the 200-day SMA at $112,777 acts as immediate resistance. The relative strength index sits at 62, remaining firm but not overheated.

If Bitcoin breaks above $113,400 with volume, potential upside targets include $115,400 and $117,150. A failure to hold $111,500 could risk a drop to $110,000 or $108,450.

The disappointment surrounding MicroStrategy’s exclusion from the S&P 500 rebalance on Friday may explain some of the muted sentiment among bulls. Trading volume remains at $40.5 billion with a market capitalization of $2.24 trillion.

Bitcoin currently has 19.92 million tokens in circulation, with fewer than 1.1 million remaining to be mined. This constrained supply means institutional buying directly amplifies scarcity pressures in the market.

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