Bitcoin Price Tumbles as KindlyMD Firm Leans on its BTC strategy Following its 55% Shares Crash on $200M PIPE Deal

Bitcoin price has slid by a fraction of a percentage in the last 24 hours to trade at $115,427 on a 53% surge in the daily trading volume to $50.1 billion.

The drop in BTC price comes as KindlyMD Inc., a healthcare-turned-Bitcoin holding company, saw its stock sink 55% on Monday. CEO David Bailey warned shareholders of increased volatility after a $200 million PIPE deal that allowed private investors to sell discounted shares on the market.

Bailey urged short-term traders to exit, saying the company wants long-term backers aligned with its Bitcoin-focused mission. KindlyMD shares, trading as NAKA, closed at $1.24 — their lowest since February — before a small rebound after hours. The fall pushed the firm’s market value to $466 million, below the $665 million worth of its 5,765 Bitcoin holdings, bringing its mNAV to 0.7.

Analysts caution that crypto treasury firms face similar pressures as their Bitcoin reserves outweigh market caps. Bailey, however, framed the sell-off as a “transition,” stressing that the company aims to become the leading Bitcoin-native financial institution built on long-term vision, discipline, and creative execution.

Bitcoin Price Analysis: BTC May Break Out Toward $150K

Bitcoin (BTC) is trading around $115,300 after moving sideways for several days. The chart shows a rounded bottom pattern that formed earlier this year, creating a strong support zone. After that, BTC broke above the neckline and entered a consolidation phase. Now, the price is ranging again, but signals suggest that a breakout could be coming soon.

The sideways action reflects uncertainty in the market. However, such moves often lead to strong rallies once momentum builds. If buyers take control, BTC could target the $150,000 level, which is marked as the next major reward zone. This would represent a significant upside from current levels.

BTCUSDT Analysis. Source: Tradingview

The Relative Strength Index (RSI) is sitting near 56, showing that the market is balanced. This means Bitcoin is not overbought or oversold, leaving room for further upward movement. Traders are watching the $120,000 level closely, since breaking above it could confirm the start of a new rally. That price will act as an important entry or buying point.

On the downside, support is seen between $100,000 and $105,000. This area is where the rounded bottom formed, making it a strong cushion if BTC pulls back. If the price falls below that zone, Bitcoin could slip into a longer period of consolidation before attempting another push higher.

For now, the outlook remains cautiously bullish. The structure of the chart favors an upward breakout, and the reward-to-risk ratio looks attractive for traders. If BTC manages to break past $120,000 and hold that level, the next target near $150,000 becomes realistic.

Miner Outflows Spike

Meanwhile, Bitcoin miner outflows show that miners have been selling more coins. Data from CryptoQuant shows that even with these spikes, Bitcoin’s price has kept rising and is now near $115,400.

Back in early 2023, Bitcoin traded around $17,000–$20,000, and miner selling increased as the price climbed. Outflows peaked during major rallies in 2024 and 2025, but the market stayed strong. This suggests buyers, both big and small, are absorbing the supply.