American Bitcoin Corp (ABTC), a Nasdaq-listed firm co-founded by Eric Trump, has significantly expanded its Bitcoin treasury, acquiring an additional 54 BTC this week. This latest purchase brings the company's total holdings to over 5,000 BTC, placing it among the top 20 publicly traded Bitcoin treasury companies globally, according to data from bitcointreasuries.net.
The company has reported impressive metrics since its Nasdaq debut, achieving a 96.5% Bitcoin yield and holding 533 satoshis per share as of December 14. This institutional accumulation coincides with aggressive buying from large-scale investors, known as whales. Glassnode data reveals that in the last 30 days alone, whales have accumulated 269,822 BTC worth approximately $23.3 billion, marking the largest monthly purchase in the last 13 years.
Analysts view this substantial accumulation as a significant catalyst for Bitcoin's price trajectory as December progresses. Markets are anticipating a potential bounce from the current trading range of $85,000-$87,000 toward the $95,000 resistance level, with some forecasts suggesting an extension into six figures before the year's end.
From a technical analysis perspective, Bitcoin's daily chart shows price compressing into a tightening structure. The market is trading between a descending trendline from the cycle high and a rising support base around the $85,000 zone. This price action suggests seller momentum is exhausting, forming a higher-low structure. The $85,000 level is identified as crucial near-term support that must hold to preserve a potential bullish reversal. A decisive daily close above the descending trendline and the $95,000 resistance would confirm a breakout. The Relative Strength Index (RSI) has stabilized below 50, signaling fading bearish momentum.
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