Bitcoin (BTC) price today is up 4.81% since the start of 2025 and trades around No data found for bitcoin on 2 hours ago as of January 4. The ongoing recovery is impressive, but BTC needs to overcome the $100K hurdle to turn the market structure bullish. This development comes as MicroStrategy discloses a $2 billion BTC strategy. Bitcoin Price Edges Toward $100K, But No Bullish Confirmation Yet From a market structure standpoint, Bitcoin price has not created a higher high since the 15% crash from its ATH of $108,421.8. This correction found support around $93.2K, resulting in a 4.81% bounce since January 1. BTC must overcome the December 26 swing high at $99,950 or roughly the $100K psychological level for a bullish confirmation and the market structure to turn bullish. Such a development could catalyze a rally that contests the ATH. However, until that happens, crypto markets remain uncertain, with only strong altcoins noting recovery. *bitcoin price updated as of No data found for bitcoin on 2 hours ago. MicroStrategy Reveals Plan to Raise $2 Billion to Buy BTC In a recent X post , Microstrategy CEO and co-founder Michael Saylor revealed, “MicroStrategy targets up to $2 billion capital raise through public offerings of perpetual preferred stock in the first quarter of 2025.” In a blog detailing this plan, the software company revealed, “The purpose of the Offering is to allow MicroStrategy to continue to strengthen its balance sheet and acquire more bitcoin.” The Tysons, Virginia-based software company owns 4,46,400 BTC worth $43.792B as BTC trades around No data found for bitcoin on 2 hours ago. Of Bitcoin’s 21M total supply, Saylor’s MicroStrategy owns 2.13%, with the average cost per BTC around $62,428. While MicroStrategy’s $2 billion Bitcoin buying plan might seem bullish, the market has become desensitized to this accumulation spree to affect BTC’s value in the short term. Read More: MicroStrategy To Raise Up To $2B To Acquire More Bitcoin BlackRock’s IBIT Bitcoin ETF Sells $333 Million BTC Although Michael Saylor continues to buy, BlackRock, the world’s largest asset manager, withdrew $333 million on Thursday. This outflow is the largest in IBIT’s history. BlackRock Sells $333M BTC BTC Technical Analysis & Target The four-hour chart shows that Bitcoin price is trading between $93.3K and $99.6K. A sweep of the range’s lower limit at $93.3K on December 30 led to an 8% recovery rally. While the next target is the range high or $100K, BTC faces stiff resistance, extending from $97.5K to $99.6K. Bitcoin price could take one of two paths: A rejection that leads to a pullback into the CME gap, extending from $94.4K to $94.9K. Or a retest of $100K followed by a pullback into the aforementioned CME gap. However, there is a third scenario: BTC could break $100K and attempt to revisit the ATH at $108,421.8. BTC/USDT 4-hour chart The lack of uptick in daily active addresses or the consistent production of lower highs since the ATH on December 17 does not instill confidence in the recovery. A drop in this metric shows that investors are not interested in BTC at the current price. Such an outlook hints at uncertainty and adds credence to the technical analysis that anticipates two outlooks that Bitcoin price could take. Downtick in BTC’s Daily Active Addresses To conclude, MicroStrategy’s $2 billion plan has no impact on Bitcoin’s price in the short term. From a market structure and technical standpoint, BTC’s bullish outlook will begin once it sets a swing high above $100K. Until one of the above occurs, Bitcoin price prediction remains uncertain. The post Bitcoin Price Edges Closer to $100K, MicroStrategy Reveals $2B BTC Strategy appeared first on CoinGape .
