Bitcoin investment indicator: MicroStrategy's floating profit is nearly 14 billion, and $97,000 is its key resistance level
As of April 21, Strategy (formerly MicroStrategy) held 538,200 bitcoins, with a total cost of approximately US$36.47 billion and an average purchase price of US$67,766.
According to the latest data from Coingecko, the current market value of Bitcoin is $93,709, which means that Strategy's holdings have currently made a floating profit of $13.962 billion.
It is worth noting that in December last year, when the price of Bitcoin reached US$106,000, Strategy's unrealized profit was as high as US$19.6 billion. This suggests that despite the significant volatility the market has experienced in recent months, there is still potential for further gains.
According to Glassnode's post X, if Bitcoin wants to return to the $100,000 mark, it first needs to break through the key resistance level of $97,000. Currently, the cost basis of approximately 392,000 bitcoins is in this price range, which means that a large number of investors may choose to sell at the break-even point, thus forming strong selling pressure.
In summary, the market is now in a stage of game between continued buying by institutions and technical resistance levels. Whether there is a breakthrough or not will determine the short-term trend.
If Bitcoin breaks through this key level, it is expected to quickly challenge the psychological barrier of $100,000; otherwise, the market may usher in a new round of consolidation.
This analysis provides key insight into Bitcoin’s short-term trend, and investors need to keep a close eye on this price point to grasp market dynamics.
Do you think Bitcoin can break through the $97,000 resistance level in the short term? Are you more concerned about technical analysis or institutional holdings?
