- Strategy upsized its Stream Perpetual Preferred Stock (STRE) to €620 million ($715 million) for future Bitcoin acquisitions.
- Bitcoin dropped below $100,000 as risk sentiment soured amid the prolonged U.S. government shutdown.
- Volume Delta turns positive, hinting at accumulation near the $100K psychological level.
Bitcoin price fell to intraday lows below $100,000 on Friday, aligning with steep sell-offs across U.S. equities as White House adviser Kevin Hassett warned of a worse-than-expected impact of the ongoing US government shutdown.
Amid the market-wide corrections, Bitcoin investment firm Strategy raised its Stream Perpetual Preferred Stock (STRE) offering to €620 million ($715 million).
CEO Michael Saylor confirmed the upsize, saying the firm raised the deal from €350 million to €620 million to bolster liquidity for “general corporate purposes,” which includes Bitcoin acquisitions. The euro-denominated structure mirrors earlier perpetual preferred stock offerings. The Strategy used to fund its accumulation of BTC through debt-backed issuances.
After its most recent purchase of 397 BTC for $45.6 million on Monday, Strategy now holds a total of 641,205 BTC, accounting for 3.05% of the total BTC circulation supply.
Bitcoin Price Forecast: Bull-Bear Power Suggests Relief Bounce Toward $105,700
Bitcoin’s 12-hour chart shows mild signs of recovery following a steep decline. The price trades around $100,950 at press time, bouncing from the lower Keltner Channel support at $100,255, while the mid-channel resistance lies near $105,729.
Volume Delta readings turned slightly positive, indicating early accumulation near the $100,00 level. Meanwhile, the MACD histogram shows easing bearish momentum, with the signal line flattening near -2,004, suggesting potential for a near-term crossover.
Bull-Bear Power (BBP) remains negative but improving, hinting that bears are losing dominance as buyers step in. A successful daily close above $101,200 could trigger a short squeeze toward $105,700. Conversely, failure to hold the $100,255 support would expose Bitcoin to further downside, potentially retesting $98,400.
Related: https://coinedition.com/bitcoin-price-prediction-btc-faces-pressure-as-bulls-struggle-to-regain-momentum/
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Source: https://coinedition.com/what-next-for-bitcoin-price-as-strategy-raises-stre-offering-to-715m/
