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Metaplanet Inc. moved again into the Bitcoin zone as part of its treasury plan, buying 136 Bitcoin for about $15.2 million at an average price of $111,783 per coin.

According to the company, that brings its total holdings to 20,136 coins. The purchase keeps Metaplanet among the larger corporate holders of the crypto.

Metaplanet Expands Bitcoin Stack

The company reported the fresh buy on Monday. Based on reports, Metaplanet now sits as the sixth-largest corporate holder of Bitcoin.

At the time of the purchase, Bitcoin traded around $111,580, putting the new units close to current market levels. The move underscores how some firms are turning parts of their balance sheets into crypto exposure rather than sticking only to their core businesses.

Market Reaction Was Cool

Shares of Metaplanet did not climb after the disclosure. They fell 2.3% in Tokyo trade on Monday and were trading near a four-month low, extending nearly a 20% rout from the prior week.

Reports show the stock slide has tracked a drop in Bitcoin’s price after profit-taking followed August’s record highs. Investors appear skittish when a company’s share price is tied tightly to a volatile asset.

*Metaplanet Acquires Additional 136 $BTC, Total Holdings Reach 20,136 BTC* pic.twitter.com/c41t6bJg1L

— Metaplanet Inc. (@Metaplanet_JP) September 8, 2025

Investors Weigh ETFs Versus Direct Exposure

Part of the pushback comes from alternatives. Exchange-traded funds now give retail and institutional investors direct bitcoin exposure without owning a company whose core business may not reflect the crypto bet.

Strategy, formerly MicroStrategy, remains the biggest corporate holder with 636,505 coins. Strategy logged nearly a 15% loss in August as Bitcoin pulled back, showing how a firm’s valuation can swing with crypto prices.

Questions have been raised about whether holding Bitcoin on a company balance sheet still offers the same appeal it once did.

Valuation And Volatility Concerns Persist

Metaplanet’s market value — around $5 billion, based on recent trading — has drawn scrutiny because it exceeds the current market value of the bitcoin on its books.

Critics warn that tying a company’s shares to Bitcoin can make the stock more vulnerable to crypto’s swings. New players, including Metaplanet and Gamestop, tried to copy the strategy and have met mixed results so far.

Market Crowding Could Limit Future Gains

Analysts also point to crowding: many companies chasing the same story could blunt future upside for treasury-play stocks if fresh buyers stop showing up.

Strategy achieved big gains after late-2023 purchases, funded in part through large share and debt issuances. That path may be harder to repeat now that more investment routes exist.

For now, Metaplanet keeps adding to its bitcoin pile while its shares remain under pressure. Reports suggest the next moves by both Bitcoin and markets will decide whether that bet looks smart or risky in hindsight.

Featured image from Unsplash, chart from TradingView

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In him latest In a daily technical outlook, Cryptowzrd emphasized that Bitcoin has closed the day with its tombstone doji, and is above a critical level. Analysis shows that to maintain momentum and push prices up to $120,000, you need a more bullish candle resistanceespecially as the market is fighting against the underlying pressures that are underway.

Despite the weak NFP print, fundamentals support Bitcoin

Cryptowzrd emphasized that Bitcoin’s daily candles are closed for indecisiveness and show uncertainty as the market evaluates its next move. Despite this indecisiveness, BTC has surpassed the key level of $110,500, which continues to function as a strong support zone. This level remains important in determining whether you are bullish or not. Momentum It can be maintained in the short term.

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Analysts noted that Bitcoin remains at a bullish edge in the face of lower than expected NFP prints caused by the basic commentary. This development suggests a wider market Feelings It still supports BTC, and its technical strength is strengthened by macroeconomic factors.

From a weekly standpoint, traditional markets have been shut down with bullish memos, further supporting the potential benefits of Bitcoin. However, to solidify confidence in a rally heading towards a $120,000 resistance level, you need a series of consecutive bullish daily candles. Without this confirmation, the market remains a retention pattern, leaving room for volatility and short-term swings.

On the downside, he warned that if Bitcoin falls below $110,500 by the middle of the week, it could open the door deeper Correctionpotentially testing a support zone of $100,000. Such movements will shift and increase market dynamics Sales pressure It creates strategic opportunities for traders to position for short-term downside plays.

Over the weekend, Cryptowzrd will ensure that your current position is above $110,500, while closely monitoring low frame charts to identify viable scalp opportunities.

Intrinsic volatility driven by NFP and market foundations

Conclusion of his analysis, analysts highlighted that BTC’s intraday charts are volatile and affected by recent basic commentary and lower NFP prints than expected. This volatility reflects market uncertainty as traders weigh both technical and macroeconomic factors.

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He said that a critical move above $113,200 shows stronger bullish momentum and potentially pushing. Bitcoin It will help you secure your current position higher. Such a breakout indicates that buyers are regaining control of the market.

Meanwhile, a drop below $110,400 can open the door to gain additional drawbacks. For now, Analyst We will be patiently waiting for the market to form a more mature trade setup before taking the next practical position.

Getty Images Featured Images, Charts on tradingView.com

Stellar lumens (XLM) traded in a tight range over the past 24 hours, holding between $0.42 and $0.43 from Aug. 14 at 15:00 UTC through Aug. 15 at 14:00 UTC.

The token saw measured gains before late-session profit-taking pushed prices 1% lower to $0.43 in the final hour of trade. CoinDesk Data’s technical analysis model suggests XLM is approaching a key resistance level at $0.50, with a breakout potentially targeting $0.60–$0.77, backed by strengthening network fundamentals and growing institutional participation.

On-chain metrics continue to paint a bullish picture. Stellar’s active enterprise wallets hit an all-time high of 9.69 million, with 5,000–6,000 new institutional addresses added daily.

Total value locked on the network jumped 80% to $150 million, reflecting a surge in corporate adoption. Traders are closely watching the $0.47–$0.50 zone, a potential trigger point for institutional short covering that could fuel the next leg higher.

Despite early pressure pushing XLM down to $0.42 in the first six hours of the session, buyers consistently emerged at that level, signaling strong institutional support.

Overnight, the token staged a steady recovery, retesting $0.43 before consolidating. In the final 60 minutes, heavy selling briefly drove prices back to $0.42, but a swift rebound and lighter volume suggest selling pressure may be easing, leaving room for renewed upside momentum.

Corporate Technical Indicators Signal Consolidation Phase

• Stellar established robust institutional support at $0.42 zone with consistent corporate buyer emergence during early session decline.
• Cryptocurrency tested resistance near $0.43 during overnight institutional trading before consolidating in upper price range.
• Trading volume peaked at 71.43 million during initial six-hour decline, indicating significant institutional participation and interest.
• Technical formation approaches critical resistance at $0.50 level, representing key institutional breakout threshold.
• Corporate momentum indicators suggest potential advancement toward $0.60-$0.77 institutional price target zones.
• Diminishing trading volume in final hour signals exhausted institutional selling pressure and market stabilization potential.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Bitcoin is holding firm above the $115,000 level after several days of trading below it, signaling renewed strength in the market. The bullish tone is building as Ethereum posts massive gains and altcoins begin to show strong moves over the past few days. For some analysts, this could be the start of the long-awaited altseason; for others, it’s simply the rest of the market catching up to Bitcoin’s earlier rally.

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Top analyst Axel Adler noted that Bitcoin’s price is now trading close to its all-time high, with the BTC Z-Score (Price, 30/365) sitting around +1.5σ above its one-year norm. This reading is well below the +2.5σ level typically associated with overheating, suggesting that while momentum is strong, it is not yet at extreme levels. The current environment offers a favorable backdrop for potential upside, with room for the market to expand further before reaching overheated conditions.

With altcoins gaining traction and Ethereum’s rally adding fuel to the market’s optimism, the coming days could determine whether this is a sustainable breakout or just another phase of consolidation before the next major move.

On-Chain Activity Still Lags Behind Price

According to Adler, Bitcoin’s current market setup is showing a positive backdrop but with some important caveats. Adler points out that the Adjusted Price Divergence (APD) remains negative near −1.5 after rebounding from local lows around −2. This metric suggests that Bitcoin’s price is still outpacing on-chain activity, although the gap between the two is narrowing. In other words, while price momentum is firm, the network’s transactional activity and usage haven’t yet fully caught up.

This discrepancy creates an interesting dynamic for the market. Adler explains that the bias still favors price, meaning momentum is being driven more by investor positioning and sentiment than by on-chain fundamentals. For the rally to gain more structural support, a healthier setup would see APD move toward zero. This could happen in one of two ways: either network activity increases significantly while price moves sideways or posts modest gains, or Bitcoin’s price cools off to better align with current usage levels.

Importantly, Adler warns against interpreting APD moving toward zero as a direct buy or sell signal. Instead, it represents a sign of normalization — a point where market price and underlying network fundamentals are better aligned. For now, Bitcoin’s technical and macro backdrop remains bullish, but sustained long-term growth will likely require the network to catch up with price action.

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Bitcoin Price Holds Key Support Near $115K

Bitcoin is consolidating above the $115,724 support level after a brief dip below it earlier this month. The daily chart shows price stabilizing just above the 50-day simple moving average (SMA), currently near $113,324, which has acted as a strong dynamic support throughout the recent uptrend. The short-term structure remains bullish, with BTC trading inside a range between $115,724 support and the $122,077 resistance level.

Volume has tapered off slightly since the early August rebound, suggesting the market is in a wait-and-see mode before a potential breakout. A decisive close above $118,000 could invite another test of the $122,077 resistance, a key level that has capped upside attempts multiple times. If broken, this could open the door toward new all-time highs.

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On the downside, losing $115,724 would shift focus to the 100-day SMA at $108,983 as the next major support. Until then, the higher-lows pattern suggests buyers are defending the mid-$115K zone aggressively.

Featured image from Dall-E, chart from TradingView

Following another rejection from the $120,000 region on July 21, Bitcoin (BTC) is now holding steady around the $115,000 level. However, realized price data suggests that BTC’s surface-level calm may be nearing its end.

Old Bitcoin Whales Stop Realizing Gains

According to a CryptoQuant Quicktake post by contributor Kripto Mevsimi, Bitcoin whale behavior indicates that the asset may be walking a tightrope. While “old whales” have stopped realizing profits, newer whales remain slightly in the green – though only marginally.

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Here, old whales refer to large BTC holders who have held the digital asset for more than a year. New whales – including institutional players – are those who entered the market within the past year.

Kripto Mevsimi notes that the current balance between old capital and newly invested capital may not hold much longer. A decisive break in either direction could push BTC into a new price range.

The chart below illustrates the rising realized cap of old whales from 2022 to 2024, confirming that this cohort steadily realized profits during that period. Notably, this quiet distribution phase coincided with mid-cycle market conditions.

However, since early 2025, the realized cap for old whales has flattened – signalling a pause in profit-taking. Their average cost basis of $39,400 puts them well in profit, suggesting they are likely waiting for higher prices before re-entering the market.

In contrast, the average cost basis for newer whales is approximately $105,300 – a level that now serves as their psychological breakeven. As long as BTC remains above this threshold, these newer investors are unlikely to sell in large numbers.

That said, a drop below this critical level could trigger risk-off behavior among new whales. Kripto Mevsimi suggests that such a move could escalate current conditions from moderate profit-taking to panic selling, potentially triggering a wave of leverage unwinds.

Keep An Eye On Realized Price

It’s worth noting that recent activity has been minimal across both BTC investor cohorts – old whales and new whales alike. As the CryptoQuant analyst puts it:

Old whales are idle. New whales are exposed. Neither is pressing the market – yet. But once the range breaks, the reaction could be sharp.

In short, Bitcoin holders should closely monitor realized price levels. If BTC maintains a price above $105,000, newer capital is likely to remain stable. However, a drop below that could weaken the floor and invite downside pressure.

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Conversely, a breakout toward a new all-time high – possibly around the $130,000 mark – could bring old whales back into play, expanding their realized cap. That said, a few warning signs point to potential short-term weakness.

For instance, BTC deposits to Binance have been rising steadily after months of decline, indicating that selling pressure may increase in the near future. At press time, BTC trades at $113,500, down 0.3% over the past 24 hours.

Featured image from Unsplash, charts from CryptoQuant and TradingView.com

Bitcoin is trading just above the $112,000 level after breaking down from a consolidation range that held for over two weeks. The sharp decline sparked concerns among investors, particularly among Short-Term Holders (STH), who now face the difficult choice of realizing losses or holding underwater positions. However, top analyst Darkfost shared key insights suggesting that Bitcoin’s underlying demand remains robust, despite the price volatility.

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According to Darkfost, the Apparent Demand metric—comparing new BTC issuance to over one-year inactive supply—indicates that the market is still absorbing supply effectively. The ratio has stayed in positive territory, signaling that demand continues to outpace new issuance. Over the past 30 days, approximately 160,000 BTC have been accumulated, highlighting strong buying behavior even as prices corrected.

While sentiment among STH has weakened due to the recent drawdown, long-term accumulation trends suggest the broader market structure remains healthy. Investors with longer time horizons are continuing to add to their positions, reflecting confidence in Bitcoin’s long-term prospects. As BTC stabilizes around $112K, market participants are closely watching for a potential reversal or a deeper correction, with demand-side indicators offering a more optimistic outlook for the weeks ahead.

Demand from Accumulator Addresses and OTC Desks Signals Strong Conviction

Darkfost also highlighted critical insights regarding Demand from Accumulator Addresses, a metric that tracks wallets that have only acquired Bitcoin without any history of selling. This indicator provides a clear view into both the demand dynamics and the holding conviction of long-term investors.

Over the past month, the average BTC accumulated by these addresses has grown by approximately 50,000 BTC, showcasing a consistent and determined buying trend, despite recent price corrections. Such behavior underscores the confidence of long-term holders who are taking advantage of market dips to strengthen their positions.

On a broader horizon, BTC held on OTC Desks reflects a more strategic and long-term demand pattern. Unlike exchange-based activity, OTC transactions are less visible in immediate price action but offer a window into the intentions of institutional players.

Since September 2021, the supply of BTC on OTC desks has dropped sharply, from around 550,000 BTC to just 145,000 BTC today. This significant decline indicates that large-scale buyers are consistently removing Bitcoin from OTC circulation, reducing the available supply for future institutional entrants.

Whether examining short-term accumulation or long-term OTC trends, the overall demand-side picture remains notably positive. Despite recent volatility and a wave of short-term profit-taking, there are no major signs of structural weakness from demand-side indicators.

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Bitcoin Faces Key Resistance After Rebounding from Local Lows

Bitcoin is currently trading at $114,476, showing signs of stabilization after a sharp drop to $111,971 earlier this week. The chart shows BTC still hovering below the crucial $115,724 resistance, which aligns with the lower boundary of the previous consolidation range. The 50-day SMA sits at $100,228, providing a solid technical base, while the 100-day SMA at $95,433 remains a key medium-term support zone. The 200-day SMA is rising steadily at $77,282, confirming the long-term bullish trend.

Despite the recent volatility, Bitcoin’s price structure still suggests a bullish outlook as long as BTC maintains higher lows above the $110K level. However, the $122,077 resistance remains a critical barrier. Breaking above this level would signal a strong bullish continuation towards new highs.

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Volume activity has been decreasing during this retracement, which is a positive sign, indicating that selling pressure is not overwhelming. If BTC can reclaim the $115,724 zone in the coming sessions, it would increase the probability of another breakout attempt towards $122K.

Featured image from Dall-E, chart from TradingView