Key Takeaways
- BTC is once again approaching the $113,000 mark as bullish momentum builds.
- A decisive break above the $113,000 resistance could push BTC toward $117,000 in the near term.
Institutional Buyers Continue Adding Bitcoin
The crypto market has started the week on a positive note, with most coins and tokens trading higher. Bitcoin, the largest cryptocurrency by market capitalization, climbed off last week’s low of $107,000 and is now trading near $113,000.
Over the past 24 hours, BTC rose about 1.55% and is trading near $112,900. This rally could see Bitcoin push through the $113,000 resistance and move higher in the coming hours.
The bullish move coincides with continued accumulation by corporate entities. Michael Saylor’s company Strategy announced on Monday that it purchased 1,955 BTC for $217.4 million at an average price of $111,196 per coin, bringing its year-to-date return on BTC to 25.8% in 2025. As of September 7, 2025, Strategy holds 638,460 BTC purchased for approximately $47.17 billion at an average of $73,880 per bitcoin.
Strategy purchased 1,955 BTC for ~ $217.4M at ~ $111,196 per bitcoin and achieved a 25.8% YTD BTC return in 2025. As of 9/7/2025 we hold 638,460 $BTC purchased for ~ $47.17B at ~ $73,880 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/QNIuAWRwEW
— Michael Saylor (@saylor) September 8, 2025
Japanese firm Metaplanet also increased its reserves by 136 BTC, lifting its total holdings to 20,136 BTC, worth over $2.2 billion at current prices. The company said it bought the 136 BTC for 16.55 million Japanese yen per coin (roughly $111,830). Metaplanet aims to reach 30,000 BTC by the end of the year.
BTC Eyes $117,000 as Bullish Momentum Grows
The 4-hour BTC/USD chart remains technically cautious despite the recent upswing, but market sentiment is shifting bullish as buyers begin to take control. The RSI near 63 indicates buying pressure and suggests Bitcoin could enter overbought territory if momentum continues.
MACD lines are also in positive territory, reinforcing the bullish bias. If the rally continues, BTC could break the $113,541 resistance and target the $117,000 high in the coming hours. A prolonged bullish run could extend toward the fair value gap around $120,000.
That said, the market may face a pullback after the recent advance. If selling pressure returns, Bitcoin could retest support near the $111,000 low in the short term.