BTC Faces Resistance Test While Metaplanet Boosts Holdings to $1.78B

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Metaplanet has bought more BTC as the daily chart for Bitcoin shows price action consolidating below the critical $119,841 resistance, with an additional ceiling at $119,954. This zone has become the immediate battleground for bulls seeking to push toward $122,000.

Despite holding above significant supports, the short-term trend is softening. The 9-day EMA is converging toward the 20-day EMA, signaling a slowdown in upward momentum. The MACD remains in negative territory with continued red histogram readings, suggesting sellers retain an advantage. Meanwhile, RSI values in the mid-range point to neutral momentum—neither overbought nor oversold—leaving room for movement in either direction.

Also read: Bitcoin Investors Rush for the Exits as Prices Slip Below $112K Amid Whale Sell-Offs

Potential Bitcoin Breakout and Downside Risks

If Bitcoin decisively closes above $119,841, bullish momentum could accelerate toward $122,000 and potentially higher. Such a breakout may attract new long entries, with stops set just below the breakout zone to protect against false moves.

Daily chart for WBTC/USD (Source: GeckoTerminal)

On the downside, $105,681 serves as the first line of defense, followed by $103,985 and $101,508. A breakdown below these levels could open the door for short setups, ideally confirmed by a retest of broken support before further downside continuation.

Metaplanet Expands Massive Bitcoin Treasury

Institutional accumulation continues to make waves in the market, with Japan-based Metaplanet announcing the purchase of an additional 463 BTC for roughly $53.7 million at an average price of $115,895 per Bitcoin.

Metaplanet has acquired 463 BTC for ~$53.7 million at ~$115,895 per bitcoin and has achieved BTC Yield of 459.2% YTD 2025. As of 8/4/2025, we hold 17,595 $BTC acquired for ~$1.78 billion at ~$101,422 per bitcoin. $MTPLF pic.twitter.com/9EyuDIMsqq
— Simon Gerovich (@gerovich) August 4, 2025

This latest acquisition boosts the company’s year-to-date BTC yield to an impressive 459.2% for 2025. As of Aug. 4, Metaplanet holds 17,595 BTC—valued at about $1.78 billion—acquired at an average price of $101,422 per coin.

Also read: Trump Media Confirms $2B Bitcoin Treasury, Expands Crypto Strategy Amid Streaming and AI Push

Institutional Demand vs. Short-Term Technical Caution

While the charts reflect a market caught between resistance pressure and neutral momentum, Metaplanet’s continued buying reinforces the narrative of strong long-term demand. Large-scale corporate accumulation has historically provided a floor for Bitcoin’s price, though short-term volatility remains a factor.

Traders are now closely monitoring whether this institutional strength will be enough to spark a decisive breakout—or if the current hesitation will give way to a deeper retracement.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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