Key takeaways
- BTC is once again approaching the $113,000 level as bullish momentum builds.
- A breakout above the $113k resistance could push BTC toward the $117k area in the near term.
Companies continue to buy more Bitcoin
The crypto markets have enjoyed a positive start to the week, with most coins and tokens trading in the green. Bitcoin, the largest cryptocurrency by market cap, reclaimed the $107,000 support last week and is now trading near the $113,000 mark.
BTC has risen 1.55% in the last 24 hours and is currently trading around $112,900. If the rally persists, Bitcoin could clear the $113,000 resistance and push higher over the coming hours.
Corporate demand is supporting the uptrend. Michael Saylor’s Strategy announced on Monday that it purchased 1,955 BTC for $217.4 million at an average price of $111,196 per bitcoin, delivering a 25.8% BTC return so far in 2025. As of 7 September 2025, the Strategy holds 638,460 $BTC acquired for roughly $47.17 billion at an average price of $73,880 per bitcoin.
Japanese firm Metaplanet also added 136 bitcoins to its reserves, bringing total holdings to 20,136 BTC—worth more than $2.2 billion at current prices. The company said it paid 16.55 million Japanese yen (about $111,830) per coin for the 136 BTC. Metaplanet aims to reach a target of 30,000 bitcoins by year-end.
BTC eyes $117,000 as bullish momentum strengthens
The BTC/USD 4-hour chart remains technically bearish despite the recent positive price action. However, sentiment is shifting higher as buyers increasingly control the market. The RSI sits at 63, indicating buyer dominance and suggesting Bitcoin could soon enter overbought territory.
MACD lines are also in positive territory, signaling bullish momentum. If the rally continues, BTC could breach the $113,541 resistance in the coming hours and target the $117,000 zone. In a more extended advance, Bitcoin might move toward the $120,000 fair value gap (FVG).
That said, the market could see a pullback after the recent run-up. If a correction occurs, BTC may retest the $111,000 support level over the next few sessions.