Bitcoin Jumps Above $108K After Saylor Signals Possible New Buy

The Bitcoin price jumped 2% in the past 24 hours to trade at $108,318 on a 16% daily trading volume surge to $45.1 billion.

This price jump comes after Michael Saylor hinted that his company, Strategy (formerly MicroStrategy), may soon buy more Bitcoin. In a post on X, he shared a chart showing the company’s 82 Bitcoin purchases, totaling 640,250 BTC worth about $69 billion. Saylor wrote, “The most important orange dot is always the next,” suggesting another purchase could be coming.

Strategy is still the largest corporate Bitcoin holder, owning about 2.5% of all Bitcoin. It is followed by Marathon Digital with 53,250 BTC and XXI (CEP) with 43,514 BTC. Japan’s Metaplanet and CEPO also rank among the top five holders.

Despite this, Bitcoin treasury companies are struggling. A report by 10x Research said many have lost billions in paper value as their net asset values (NAVs) fell. Some firms are now worth less than the Bitcoin they own. For example, Japan’s Metaplanet’s value dropped below its Bitcoin holdings for the first time, showing investor confidence is weakening.

Bitcoin Price Shows Signs of Recovery

Bitcoin shows signs of a possible comeback after forming a double bottom pattern around the $100,000 level. This pattern is often seen as a strong signal that the market could be preparing for a new upward move. At the time of writing, Bitcoin (BTC/USDT) is trading at around $109,000, up by about 1.8% in the past 24 hours.

The chart shows that Bitcoin found strong support near $100,000, where buyers stepped in to stop further decline. After that, the price moved sideways for a while, forming a consolidation zone. Once Bitcoin broke above the neckline of the pattern, it created a new entry point for traders looking to buy.

BTCUSDT Analysis Source: TradingView

If Bitcoin stays above this neckline, analysts believe the price could move toward the next reward zone, between $120,000 and $130,000, and possibly reach a target price of $150,000 in the coming weeks or months. The RSI indicator also suggests growing buying pressure, showing that more traders are turning optimistic.

This pattern comes after several months of slow movement and uncertainty. Many investors had been cautious due to global economic concerns and profit-taking by large holders. Now, with this new structure forming, some experts think Bitcoin might be starting another major rally.

However, traders are being careful. For the bullish setup to hold, Bitcoin needs to stay above $110,000. If it fails to do so, the price could face another short-term drop before trying again.

If momentum continues, Bitcoin could enter a new growth phase before the end of 2025, potentially setting fresh record highs. For now, the key levels to watch are $100,000 as support and $110,000 as the breakout point that could confirm the start of a stronger uptrend.