The price of Bitcoin marked a strong recovery over the weekend after a recent sharp drop below $91K. In this context, experienced trader Peter Brandt reaffirmed his optimistic view on the flagship cryptocurrency, noting that BTC could continue its upward trend in the future. Moreover, other on-chain metrics also indicate a positive outlook for BTC moving forward.
Discussions about the strategic BTC reserve in the U.S. have recently fueled market sentiment. On the other hand, the recent strong inflow into the US Spot Bitcoin ETF has also signaled growing institutional interest in cryptocurrency. However, the recent outflow this week from BlackRock Spot Bitcoin ETF and others has raised concerns.
Despite this, blockchain indicators point to a positive trend ahead. For context, leading analytical platform CryptoQuant stated that “demand for Bitcoin is increasing.”
Several major companies continue to actively integrate Bitcoin into their corporate strategies. In recent months, the trend of acquiring cryptocurrency has gained momentum, citing the successful example of market leaders like MicroStrategy and Tesla. This was reported by CryptoQuant researchers.
MicroStrategy maintains its leadership, investing in Bitcoin for the sixth consecutive week. The company has purchased over 16,728 BTC in just the past few weeks. This strengthens their reputation as one of the most active corporations in the crypto investment space.
Other companies are also strengthening their positions. Semler Scientific, specializing in medical equipment, began investing in Bitcoin on May 28, 2024. The company’s management acquired 2,084 BTC at an average price of $80,916, allocating about $170 million for this.
Metaplanet, an investment firm from Tokyo, is also actively developing its strategy starting in April 2024. They invested $75 million, purchasing 1,142 BTC at an average price of $65,650 per coin.
The volume of Bitcoin (BTC) staking has surpassed 32,000 BTC. Since May 2024, the amount of staked Bitcoin has increased many times over. This has also led to growing interest in **Ethereum** (ETH), where the volume of restaking reached a record 6 million ETH.
This trend has become an extremely important focus this year. The restaking mechanism allows already staked assets to be used to secure other protocols. This approach enables market participants to simultaneously support decentralized applications and earn additional profits. The total amount of assets involved in staking and restaking has already exceeded $25 billion.
There has been significant growth in the Bitcoin staking sector since mid-2024. This is related to increased trust in cryptocurrencies as a long-term investment tool. Investors are seeking ways to minimize risks and increase returns, and staking provides such an opportunity.
In previous cycles, before moving on to new ATHs, Bitcoin underwent much stronger corrections, for example:
– December 2013 – 50% correction
– January 2018 – 51% correction
– March 2020 – 50% correction
– May 2021 – 53% correction
These data suggest that there may still be room for a correction before further growth. Therefore, the strategy of long-term investing in the first cryptocurrency remains valid. Also,El Salvador has recently adjusted its investment strategy. In addition to daily BTC purchases on the market, they also acquired 22 more coins during the dip.
