Bitcoin surged past the $115,000 level just a few hours ago, sparking speculation among investors about the potential for further upside. The move comes after weeks of tight consolidation that began in July, a period marked by choppy trading and indecision. Now, with momentum showing signs of returning, many analysts believe the next breakout could be aggressive, setting the tone for the final quarter of the year.
The reclaim of $115,000 has reignited bullish sentiment, with traders closely watching whether Bitcoin can build a base above this threshold and aim for the next major resistance at $117,500. Historically, prolonged consolidation phases have often preceded strong directional moves, and the current setup suggests that volatility could soon accelerate.
Adding weight to the bullish narrative, fresh data reveals that Metaplanet has expanded its Bitcoin treasury once again. The firm added 5,268 BTC to its holdings, bringing its total stash to 30,823 BTC. This significant purchase highlights growing institutional conviction in Bitcoin, even as prices remain locked in a range.
Metaplanet Becomes 4th Largest Bitcoin Holder
Top analyst Maartunn highlighted that Metaplanet’s latest purchase has further cemented its position among the largest Bitcoin holders in the world. With the addition of 5,268 BTC this week, Metaplanet’s treasury now stands at 30,823 BTC. This accumulation places the firm as the 4th largest corporate Bitcoin holder, trailing only industry giants such as Strategy (prev. MicroStrategy) and a few other leading institutions. The move underscores the growing appetite for Bitcoin among companies looking to diversify reserves and position themselves ahead of what many see as a long-term adoption cycle.
This development comes at a crucial time for the market. Bitcoin has recently reclaimed the $115,000 level, sparking fresh optimism after months of consolidation. Analysts point out that institutional moves like Metaplanet’s provide strong underlying support, reinforcing the argument that Bitcoin remains attractive even at elevated prices.
The coming days will be critical, as several analysts expect Bitcoin to continue pushing upward through October. Historically, this month has delivered some of the strongest rallies for BTC, earning the nickname “Uptober” within the community. If the pattern repeats, Metaplanet’s accumulation could prove to be well-timed, fueling further confidence in the asset.
BTC Challenges Key Resistance
Bitcoin is trading near $116,200 after staging a sharp recovery from recent lows around $109,000. On the daily chart, the price has reclaimed both the 50-day (blue) and 100-day (green) moving averages, signaling renewed strength from buyers. This rebound has put Bitcoin within striking distance of the $117,500 resistance zone, highlighted in yellow, which has repeatedly capped rallies since July.
A decisive breakout above this level would represent a major shift in momentum, potentially opening the path toward $120,000 and retests of the late-summer highs above $125,000. The fact that BTC has recovered so quickly from last week’s weakness underscores strong demand at lower levels.
However, the market is not free of risk. The $117,500 level remains a critical barrier, and failure to clear it could invite profit-taking that pulls the price back toward $114,000 or even $112,000. The 200-day moving average (red), currently trending near $105,000, continues to provide a deeper layer of support that reinforces the broader uptrend.
Featured image from Dall-E, chart from TradingView
