Bitcoin Reclaims 69K Amid Big Institutional Buys
The post Bitcoin Reclaims 69K Amid Big Institutional Buys appeared first on Coinpedia Fintech News
On March 2, Bitcoin (BTC) reclaimed the $69K psychological level after a week-long of volatility that saw its price drop to $62K. At press time, the flagship cryptocurrency was trading at $69,483, up 3.65% in the last 24 hours. BTC’s market cap was also up 3.62% over the same time period to reach $1.38 trillion.
Source: CoinMarketCap
The recovery is closely related to the recent increase in institutional accumulation, as firms take advantage of BTC discounted prices.
Institutional buys buoy Bitcoin price
Strategy Inc. (NASDAQ: MSTR), the leading Bitcoin holder among publicly traded companies, has today reported accumulating 3,015 BTC in the past week. The purchase marks the firm’s 101st recorded Bitcoin acquisition and brings its total holdings to 720,737 BTC. At writing time, Strategy’s shares were trading at $137.42, up 6.32% in the last 24h.
Considering Strategy’s Average Cost Basis of $75,985 per BTC, this brings the company’s total net unrealized loss to $7.35 billion (13.4%). Still, the company continues to grow its Bitcoin treasury as it places greater preference on the long-term benefits of dollar-cost averaging over short-term gains. Underscoring this tactic is Strategy’s Q4, 2025 earnings call of 22.8% BTC yield for the whole of 2025.
Another company that has recently increased its Bitcoin Treasury is ProCap Financial Inc. (NASDAQ: BRR), having announced an acquisition of 450 BTC at $30 million. This brings its total stash to 5,457 BTC, ranking it #19 in a list of public Bitcoin Treasury companies. ProCap plans to continue aggressively repurchasing its shares in order to cut the difference between stock prices and Net Asset Value (NAV), the latter being the amount of Bitcoin represented by each share.
Source: Business Wire
Other companies that have recently reported increased BTC acquisitions include Metaplanet Inc.(35, 102), Block Inc.(8,883,) and American Bitcoin Corp (5,843).
BTC Price Forecast
According to one renowned CoinMarketCap analyst, should BTC break its near-term resistance zone ($68K), then its price could shoot to upto $79K.
Source: CoinMarketCap
Notably, BTC could restest $72,106 should it break above the $69,266 Fibonacci support. If not, then we could see a dip towards $65,224.
