Bitcoin -price climbs 2% because Figma buys $ 91 million BTC

Bitcoin -price climbs 2% because Figma buys $ 91 million BTC

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The Bitcoin price has risen more than 2% in the last 24 hours to act at $ 112.045 from 3:38 am Est, because Figma said that his $ 91 million BTC Buy is not Michael Strategy Move and SOra Ventures said it will build the first $ 1 billion Bitcoin Treasury company of Asia outside of Japan.

Figma, a collaborative software company, expanded his BTC treasure to $ 91 million in the second quarter of this year, according to Chief Financial Officer Praveer Melwani.

“We don’t try to be Michael Saylor here,” CEO Dylan Field told CNBCadding that it is part of that of the company $ 1.6 billion cash position.

This attitude comes when the approach of Figma seems to be more conservative, unlike some companies that have turned to BTC Holdings as a final attempt to excite investors.

“This is not, like a Bitcoin holding. It is a design company, but I think there is a place in the balance and as part of a diversified treasury strategy,” Field added.

Michael Saylor’s Bitcoin strategy focuses on the use of the balance and debt financing of strategy to acquire Bitcoin as a primary treasury reserve recontantly.

Saylor announced on 2 September that strategy had bought an extra 4,048 BTC for $ 449.3 million for an average price of $ 110,981 per BTC.

The acquisition brought the total BTC holdings from the strategy to 636,505 BTC.

Now that the Figma Holdings is now increasing, the adoption of the Bitcoin Treasury has reached 1 million BTC, with more companies that praise the potential of the king of Crypto to strengthen their balances, according to data from Bitcointreasuries.net.

This is if Spot BTC Exchange Trade Funds (ETFs) continue to rise, with total market capitalization that climbs to more than $ 152 billion, according to Coinglass facts.

Sora Ventures reveals Asia’s first $ 1B Bitcoin Treasury

With BTC treasuries that contribute to their treasure, Sora Ventures introduced Asia’s first $ 1 billion Bitcoin Treasury Fund in Taipei Blockchain Week.

The company will start with $ 200 million in obligations, with the plan to buy $ 1 billion within six months and the goal of promoting BTC BTC Treasury strategies and to grow that are already used by companies such as Metaplanet, Moon Inc. and Bitplanet.

Bitcoin -Price analysis: Elliott Wave -Pattern suggests possible rally

The BTC/USD graph analysis on the daily period shows that the BTC price continues to act within a well -defined rising channel pattern, while retaining its long -term bullish structure.

Since June, the Bitcoin price campaign has followed a clear Elliott golf pattern, whereby the market now seemed to be successfully returned from the lower limit of the rising channel in the early stages of Golf (5) after Golf (4).

BTC stays just below the 50-day simple advancing average (SMA) at $ 115,230, which now serves as immediate resistance. However, the 200-day SMA (101,463) serves as the long-term support.

BTC -price indicators point to the growing of Bullish Momentum

The relative strength index (RSI) is currently 48, just below the neutral 50 level and up, suggesting that BTC is gaining strength and has enough room to climb.

In the meantime, despite the advancing average convergence -divigence (MACD) lines under the zero line, the blue MacD line above the orange line has been exceeded, a confirmation of a bullish crossover.

The Chaikin Money Flow (CMF) has checked up to +0.07, which indicated a return of purchasing pressure after a period of neutral current.

If BTC can recover its 50-day SMA around $ 115,230, it could pave the way for a push in the direction of $ 121,000 resistance, a 7.93% of the current level.

According to a crypto analyst on X, Wolf from all streets, BTC seems to have hit a lower high.

Meanwhile, data from Single Shows that BTC is a bullish divergence because it drops 5.9%, while the S&P 500 has risen 0.4% since 22 August and gold wins more than 5.5%. Historical patterns indicate that BTC always catches up in following the traditional market for persistent periods.

Another analyst, Johnny Woo, says that the price of Bitcoin could rise to a new ATH awaiting a FED rate reduction on September 16.

On the other hand, a slip under the $ 110,000 support zone would endanger these bullish prospects, with the 200-day SMA at $ 101,463 the likely level of support.

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