Strategy Buys 46,000 BTC, Analysts Say Bitcoin Has a Chance to Break $110,000

Jakarta, Pintu News – The price of Bitcoin (BTC) is back in the spotlight after Michael Saylor’s Strategy firm reportedly absorbed nearly three times the new supply of BTC in just over a month. This aggressive accumulation action is considered to be able to thwart the bearish pattern that previously indicated the potential for a sharp decline.

Amidst the uncertainty in the crypto market, the large demand from institutions has sparked speculation that Bitcoin could soar towards the $110,000 level or around Rp1,768,470,000. This development makes analysts think that the cryptocurrency market structure is entering an important phase that can determine the medium-term direction.

Strategy Absorbs Bitcoin Supply Faster than Miners

Bitcoin is currently still moving in a bear flag pattern which technically usually indicates a continuation of the downtrend. This pattern had even projected a potential price drop to below $50,000 or around Rp803,850,000 if selling pressure increases. However, heavy accumulation by Strategy has put the bearish scenario into doubt. Large institutional demand is considered capable of absorbing market liquidity and withstanding selling pressure.

Since March 2, Bitcoin Strategy’s holdings increased by 46,233 BTC. During the same period, Bitcoin mining by miners only generated around 16,200 BTC. This means that Strategy absorbed almost three times the new supply that entered the market. This creates an imbalance between supply and demand that has the potential to push the price of the cryptocurrency higher.

Most of these purchases were funded through the issuance of variable preferred shares called STRC. When the STRC price was around the $100 face value, Strategy continued to issue new shares to raise funds. The funds were then used to purchase Bitcoin directly on the market. This strategy made the demand for BTC increase consistently.

Also read: Bitcoin vs Ethereum Difference: Two Crypto Giants Ruling the Market

In one of the most recent transactions, Strategy managed to raise $102.6 million or around Rp1,649,500,200,000. The funds were used to buy more than $330 million worth of Bitcoin. After the purchase, the price of Bitcoin recorded an increase of more than 6.65%. This increase strengthens the correlation between Strategy’s accumulation and BTC’s price movement.

Bear Flag Pattern Potentially Fails, $110K Target Strengthened

Technically, Bitcoin is still in a bear flag pattern after experiencing a sharp decline earlier. However, the pattern will be invalidated if the price is able to break the upper trend line in the mid-$70,000 area. The breakout will change the market structure to bullish. The next upside target is expected to be in the range of $108,000 to $110,000.

If Bitcoin reaches $110,000, the price is equivalent to around Rp1,768,470,000. This level is also in line with the projected measured move from the technical pattern formed. Many analysts see this possibility growing if institutional accumulation continues. This could create a new rally in the crypto market.

A similar situation happened in 2018 when the bearish pattern failed and the price of Bitcoin actually turned upwards. At that time, BTC formed a rising wedge that was supposed to be bearish but resulted in a breakout. After the breakout, Bitcoin price jumped significantly in the next cycle. This comparison strengthens the argument that the current pattern could result in a similar scenario.

Read also: Grayscale Mentions These 5 Altcoins Enter the ‘Buy Zone’, Time for Crypto Accumulation?

In addition, Bitcoin’s current position is also close to the 200-week simple moving average. This level has historically been an area of strong support over the past few cycles. In 2018, Bitcoin bounced off the area before rising more than 1,900%. This increases the likelihood of a long-term price bottom forming.

Institutional Accumulation Could Push Target Higher

In addition to the $110,000 target, some analysts predict even higher upside potential. If the Strategy continues to buy Bitcoin at its current pace, the price could be pushed even more aggressively. Some extreme projections mention the possibility of Bitcoin reaching $400,000. This value is equivalent to around Rp6,430,800,000 per BTC.

However, this bullish scenario remains dependent on the sustainability of institutional demand. When STRC’s price briefly fell below face value, Strategy’s share issuance slowed down. In the previous period, this slowdown was followed by a 25% to 40% correction in Bitcoin. This shows how much of a role Strategy plays in market dynamics.

Selling by whales and long-term holders also put pressure on prices. However, large accumulation from institutions was able to balance the pressure. If demand remains strong, the market structure may turn bullish. This could potentially attract more new capital into the cryptocurrency sector.

In addition, increased institutional interest may also strengthen Bitcoin’s legitimacy as a macro asset. Many companies are starting to consider BTC as a hedge against inflation. This could expand the investor base beyond the traditional crypto community. The combination of technical and fundamental factors opens up opportunities for a further rally.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Cointelegraph. Bitcoin may hit $110K as Strategy absorbs nearly 3x new BTC supply. Accessed April 7, 2026
• Featured Image: Generated by AI