Musk, Metaplanet and the "Sharks" are Hoarding: Is Bitcoin About to Explode?

Bitcoin is currently priced at nearly $108,955 as of the time of the press report, supported by a new wave of confidence in the crypto market. This week, a combination of high-level political support and major corporate acquisitions has injected new momentum into BTC, with investors and analysts closely following the next big move. Elon Musk's Endorsement Changes the Story Elon Musk, CEO of Tesla and SpaceX, has become the focus as he officially supports the U.S. Party's endorsement of the adoption of BTC. In a statement posted on X, Musk described fiat currency as hopeless and positioned BTC as the foundation for the party's financial vision ahead of the 2026 midterm elections.

While some critics see this move as mere rhetoric, Musk's companies have held nearly 19,800 BTC, worth over $2.1 billion. This endorsement has bolstered BTC's credibility as a long-term hedge against inflation and centralized policy risks, and it has helped shift sentiment in the crypto market towards optimism. The Accumulation of Enterprises Drives the Case for Price Increase The story of Bitcoin's price received another boost when Japan's Metaplanet announced the acquisition of 2,204 BTC for $237 million, becoming the fifth-largest Bitcoin holder with a total of 15,555 BTC. This acquisition has propelled Metaplanet ahead of Tesla and CleanSpark, highlighting the growing trend of global companies expanding their Bitcoin treasury.

Other companies are also following suit: The French Blockchain Group has acquired 116 BTC, bringing the total to 1,904 BTC, while the UK-based Smarter Web Company has purchased an additional 226 BTC, now holding 1,000 BTC after an impressive profit of 26,242% to date. Technical Analysis: Important Levels in Progress Technically, the price of Bitcoin is currently bouncing off the upward trend line, with the 50 SMA at $108,146 providing dynamic support. The resistance level remains at $108,941, and the recent price structure—characterized by small body candles and long wicks—indicates that the market is in a state of hesitation. The Relative Strength Index is at a neutral level of 49.60, indicating that momentum remains stable but is still seeking a direction. A breakout above $108,941 could push the price of Bitcoin up to $109,727 and possibly $110,561, while losing support could lead to a price drop to $107,323 or even $106,422.

The Organization's Trust Remains Strong Although some analysts warn that the initial profits of the treasury are gradually declining, the continuous acquisition by Metaplanet shows that institutional confidence remains strong. The strategic accumulation activities of companies like Strategy and ProCap, as well as smaller firms, are helping to support the price of Bitcoin during periods of macroeconomic volatility. Supply Volatility: Holders Maintain Their Position According to CrediBULL Crypto, more than 80% of the total Bitcoin that will ever exist is currently held by long-term investors, often referred to as hodlers. This is an important milestone, as this percentage has only been higher twice in the 15-year history of Bitcoin, just before significant price increases.

When investors firmly hold a large portion of the circulating supply, the price of Bitcoin tends to rise sharply at the first sign of new demand. With the excess supply now back in the hands of long-term holders, the landscape is primed for another potential momentum. Setting Up Trades: What Traders Are Following For traders, the current setup provides clear entry and exit points. According to analysts, one should buy above $108,950 on a strong bullish candle, with targets of $109,727 and $110,561.

The stop-loss level should be placed below $108,100. As long as the trend line remains intact and the price stays above the 50 SMA line, the bulls will maintain control over the price of Bitcoin in the short term. Musk's support and the acceptance of BTC by the U.S. Party could have far-reaching effects on cryptocurrency regulation in the United States. The symbolic support from one of the world's most influential entrepreneurs could prompt lawmakers to reconsider how to handle digital assets in future economic strategies. Conclusion With institutional buying increasing, growing political support, and supply being increasingly locked up by long-term holders, conditions seem ripe for the next major Bitcoin bull run. Many analysts are speculating whether the next momentum could push the asset to the $150,000 mark. As the market awaits the next move, all eyes remain on the key support and resistance levels that will determine the short-term trajectory of Bitcoin's price.