Bitcoin is facing a pivotal moment after last Friday’s flash crash sent its price briefly down to the $103,000 level, shaking market confidence ahead of a rapid recovery. The major cryptocurrencies have since stabilized, consolidating below $115,000 as traders and financial institutions reassess short-term momentum. Although volatility has returned, on-chain and institutional data continues to show the strength of Bitcoin’s fundamentals.
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According to a new report from Bitwise, institutional demand remains strong, with 72 well-known companies collectively holding more than 1 million BTC (worth about $117 billion). This includes large corporate holders, ETFs, and investment funds that continue to view Bitcoin as a long-term strategic asset despite market turmoil.
This increased accumulation reinforces the idea that Bitcoin’s macro trends are driven by institutional adoption and long-term beliefs, and are here to stay. As the market digests recent volatility, the strength of these financial positions could play a key role in stabilizing the price and setting the stage for Bitcoin’s next big move.
Corporate Bitcoin adoption reaches record levels in Q3
The latest Bitwise report highlights surprising developments in Bitcoin’s institutional landscape. 176,762 BTC was purchased by listed companies and funds during the third quarter. This steady increase in corporate treasuries confirms Bitcoin’s continued evolution from a speculative asset to a recognized component of the global financial ecosystem.
At the forefront of this movement is Strategy, which maintains its position as the largest corporate holder with 640,031 BTC, worth tens of billions of BTC in market value. The company also added 40,000 BTC during the third quarter, demonstrating its tenacity despite recent volatility. Other institutions and ETFs have followed suit, increasing their exposure to Bitcoin as part of broader digital asset strategies aimed at hedging inflation, diversifying reserves and participating in a new phase of the global liquidity cycle.
This increased corporate adoption suggests that Bitcoin has entered a more mature and globally integrated phase. It is no longer seen as a mere speculative transaction, but is increasingly recognized as a strategic asset within the balance sheets of financial institutions and multinational corporations.
Essentially, this trend reflects the institutionalization of Bitcoin, a move that stabilizes demand, strengthens market confidence, and reduces the dominance of short-term retail speculation. As regulatory frameworks evolve and traditional finance merges with blockchain technology, the presence of Bitcoin in corporate treasuries could become as commonplace as holding cash or government bonds.
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Bitcoin consolidates below key resistance levels amid market uncertainty
Bitcoin continues to face pressure as it trades around $112,870 and struggles to regain the key $117,500 resistance zone highlighted on the chart. This level has acted as a key supply area for the past few months, and each failed breakout attempt has reinforced this level as a strong ceiling for the price.
After last week’s flash crash to $103,000, BTC has seen a modest recovery, but is still trapped between the 50-day moving average (blue) and 200-day moving average (red), and this zone often defines the direction of the trend in the medium term. The bulls have managed to protect the $110,000 to $111,000 support area, but repeated tests of this range indicate weakening momentum and increasing uncertainty.
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The moving averages are currently trending sideways, suggesting market indecision. If Bitcoin fails to regain its $115,000 to $117,500 range, there remains the possibility of further decline towards $108,000 or even $105,000 in the short term. Conversely, a successful daily close above $117,500 could confirm new bullish momentum and open the door for a move towards $122,000-125,000.
BTC seems to have digested the recent volatility and is in a consolidation phase as traders wait for a clearer direction. Institutional flows and on-chain signals will likely determine whether this zone becomes the base for a recovery or the start of another decline.
Featured image from ChatGPT, chart from TradingView.com
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