Bitcoin (BTC) targeted fresh all-time highs at the Dec. 16 Wall Street open as the United States traditional finance trading week opened with a pop.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
BTC price demands new record high
Data from Cointelegraph Markets Pro and TradingView captured a BTC price spike of nearly $2,000 in a single hourly candle.
In contrast to previous weekly opens, markets appeared to react positively to news that business intelligence firm MicroStrategy had added yet more BTC to its corporate treasury. The latest purchase was worth $1.5 billion, taking the firm’s holdings to 439,000 BTC ($46.38 billion).
Commenting on its moves, trading firm QCP Capital suggested that MicroStrategy’s inclusion in the Nasdaq 100 index last week could form the basis for future BTC capital raises.
“This inclusion could trigger passive fund inflows into MicroStrategy shares, indirectly enabling the company to raise funds more easily for acquiring Bitcoin,” it argued in a post to Telegram channel subscribers.
MicroStrategy stock vs. BTC price (screenshot). Source: MSTR Tracker
Short-timeframe BTC price volatility continued following Bitcoin’s highest weekly close on record. Analyzing exchange order book behavior, popular trader Skew highlighted spot buyers still being interested at current levels, just inches from all-time highs.
“Spot demand starts from $98K & lower but likely to see that bid liquidity to move higher with market momentum / strength,” he wrote in one of his latest posts on X.
Skew noted ask liquidity forming between $108,000 and $111,000, something that could form a new short-term price focus next.
“$600M + in short positioning closed out with price above $104K,” he added about Binance derivatives.
“For continuation from here it’s important to see spot buying & momentum above $104K.”
BTC/USDT derivatives data for Binance. Source: Skew/X
Zooming out further, popular analytics account Bitcoindata21 eyed signals from whales on exchange Kraken over where a longer-term consolidation range might begin.
The area in question focused around $150,000.
“Kraken whales are starting to…
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