Bitcoin Price Back Near $113K as Big Buyers Step In
Bitcoin went up again today, trading close to $113,450. This is about 3.2% higher after falling below $109,000 last week, which was its lowest in three weeks.
The jump came because big investors, called whales, started buying more Bitcoin. Their buying gave support after last week’s heavy selling. That sell-off was caused by large liquidations that closed many long trades on crypto exchanges.
Another reason for the recent swings was the expiry of about $22 billion in crypto options at the end of the quarter. This added more pressure and made Bitcoin move sharply.
At the same time, MicroStrategy, a major corporate Bitcoin holder, bought 196 BTC at an average price of around $113,048 each. The company now holds more than 640,000 BTC, showing strong belief in Bitcoin’s future.
Even though the price is up, traders are still careful. Concerns about a possible US government shutdown and global risks are keeping the market cautious.
Impact;
Bitcoin might rise more if whale buying continues. But if global risks increase, the price could slow down or face pressure.