17.03.202608:54 Forex Analysis & Reviews: Large Bitcoin corporate purchases underway

Tonight, Bitcoin briefly climbed above $76,000. This suggests that crypto buying has continued amid the escalation of geopolitical tensions.

Large corporate Bitcoin purchases are not only continuing but gaining pace, demonstrating growing institutional confidence in the cryptocurrency as a strategic asset. Strategy's latest actions are a vivid confirmation of this.

The company continued its active accumulation strategy, buying another 22,337 BTC. At an average purchase price of $75,696 per coin, this transaction further increased their already impressive reserve. Strategy now holds 761,068 BTC on its balance sheet, making it one of the largest corporate holders of Bitcoin. Some believe Strategy could reach the milestone of 1 million Bitcoins by the end of the year. Such an ambitious plan underscores the company's long?term strategy to maximise the potential of the leading cryptocurrency.

Alongside Strategy, other companies are also actively investing in Bitcoin. Metaplanet, for example, has successfully raised $531 million specifically earmarked for BTC purchases. These investments are part of a broader plan to significantly scale up the company's Bitcoin holdings. Metaplanet intends to raise its reserves to 100,000 BTC by the end of 2026 and then to 210,000 BTC by 2027. The company currently holds 35,102 BTC, a solid base for further growth.

Trading recommendations

Bitcoin

Buyers are currently targeting a return to $74,600, which would open a direct path to $76,500 and then to $78,400. The most distant upside target is around $80,000; a break above that would signal attempts to resume the bull market. On the downside, buyers are expected at $73,000. A move back below that area could quickly push BTC toward $70,900, with a further downside target near $69,300.

Ethereum

A clear close above $2,368 would open the way to $2,466. The most distant upside target is around $2,585; a break above that would indicate strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,279. A move below that area could quickly send ETH toward $2,210, with a further downside target near $2,145.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.