Bitcoin Price Eyes $100k as Saylor Buys $1.42B BTC — Fed Decision Looms
Michael Saylor’s Strategy has doubled down on its Bitcoin bet, acquiring 15,355 $BTC for $1.42 billion at an average price of $92,737—marking its third mega-purchase this April after buys of $555.8 million at $84,785/BTC and $285.8 million at $82,618/BTC.
BTC
96,333.32
-0.02%
With a 13.7% YTD yield on its BTC holdings, Bitcoin price consolidates near $96k ahead of the May 7 Fed meeting.
An interesting observation on the daily Bitcoin price chart is the extended bull runs after the 1-day RSI has crossed above 70. Such instances have historically resulted in 40% to 70% up moves in the next 30 to 40 days.
As of May 3, Bitcoin’s daily RSI has just crossed the 70-mark. If history repeats, this could be the last time to accumulate Bitcoin below $100k.