Bitcoin(BTC) price is approaching a key resistance level near $110,000 after reaching a new yearly high above $103,000. The price rally follows large institutional investments from MicroStrategy and Metaplanet, who injected over $1.5 billion into Bitcoin this past week. Spot demand has also increased, and technical indicators show bullish momentum continuing in the near term.
Institutional Investment Continues to Strengthen
MicroStrategy and Metaplanet have expanded their Bitcoin holdings significantly in recent days. MicroStrategy increased its stake as part of its ongoing treasury strategy. Meanwhile, Japan-based Metaplanet raised $21.25 million through zero-interest bonds to purchase more Bitcoin. This move is part of its broader plan to use BTC as a reserve asset.
According to filings released Friday, Metaplanet issued its 14th series of ordinary bonds, with all funds allocated to EVO FUND. These bonds will be redeemed in November 2025. “Metaplanet remains committed to building a strategic BTC position to support long-term balance sheet growth,” the company said in a statement.
*Metaplanet Issues 21.25 Million USD in 0% Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/tofk3rKMO8
— Metaplanet Inc. (@Metaplanet_JP) May 9, 2025
Such large-scale purchases signal continued institutional interest, even during short-term market cooling. With these firms acquiring Bitcoin at current levels, it suggests they view current prices as attractive for long-term accumulation. Institutional adoption continues to play a key role in supporting higher price targets for BTC.
Bitcoin Price Prediction: Technical Indicators Suggest Room for More Price Growth
Bitcoin price is maintaining a strong uptrend within a long-term ascending parallel channel, reflecting steady price growth supported by institutional interest. The asset recently rebounded from the lower boundary of this channel, located between $60,000 and $65,000, which has acted as a solid support zone in previous market cycles.
Currently, Bitcoin is testing the midline of the channel—a level that has served as a resistance point multiple times in the past. A successful weekly close beyond this region may suggest the possibility of a resume upward impulse towards the upper limit with targets set between $ 110,000 and $ 125,000.
Source: X
Technical indicators also give the implication of continued bullish momentum. The price structure is establishing new highs which are higher and new lows that are higher as well, the trend pattern of healthy market expansion. Bollinger Bands continue to illustrate an over midline trade in Bitcoin, bolstering the likelihood of further gains if present momentum holds for the next month or two.
Bitcoin Ownership and Market Participation Remain Low
Despite Bitcoin’s recent rally, global ownership remains low. Data shows there are 54 million Bitcoin addresses with non-zero balances—less than 1% of the global population. Even assuming one holder per address, ownership is still limited.
Only 1.81% of holders own at least 1 BTC, while 8.16% hold 0.1 BTC or more, and 22.6% hold at least 0.01 BTC. TThis indicates that accumulation is yet at a very early stage. With increasing institutional portfolio incorporation and national strategy of Bitcoin, low ownership is likely to attract new demand.
With players like MicroStrategy and Metaplanet stacking up their holdings, BTC is strengthening its status as a treasury asset. If both individuals and institutions participate in adoption, then Bitcoin’s scarcity can present additional opportunity for price appreciation.
FUN FACT: There are 54M Bitcoin addresses with a nonzero balance. Let’s be generous and say that equals 54M holders.
With 8B people, that means only 0.675% of the global population owns any Bitcoin — and that’s being generous.
Now among those 54M holders:
• 0.01 BTC – top… pic.twitter.com/ixGsNMXBVA— Simply Bitcoin (@SimplyBitcoinTV) May 9, 2025
Greater levels of ownership growth and on-going institutional buying could see Bitcoin climb to new price milestones down the line supporting the bitcoin price prediction of reaching $110K soon.
Bitcoin Eyes $110K as Bullish Momentum Builds on Daily Chart
Bitcoin has now broken above the upper Bollinger Band, thus trading at $103,136.90 while the upper band now transactions at $102,747. Any price reversal above the upper band always indicates overbought conditions, but a strong bullish momentum is also reflected. The $87,147 low band is a critical support level in case of minor correction.
The bullish outlook is still backed by the technical indicators. The MACD continues to maintain strong alignment with the MACD line holding above the signal line. The increasing gap between the two lines indicates continued control of buyers and a good move for future upside in the short run
Finally, breaking down Bitcoin’s price prediction, if it maintains position above $102,750, it could target the $108,000 to $110,000 range next. However, a break below the $94,947 mid-Bollinger Band or failure to hold above $100,000 could trigger a drop toward the $87,000–$90,000 support zone. Traders are watching these levels closely for confirmation of trend direction.
