Bitcoin is attempting to regain footing above the psychologically important $60,000 level, with on-chain data revealing a marked shift toward accumulation among both retail and whale investors. The renewed buying comes as Japanese public company Metaplanet announced it has added 2,823 BTC to its corporate treasury, a move that signals enduring institutional conviction despite lingering market volatility.
Technical charts, however, present a cautious picture. Bitcoin remains below all major exponential moving averages (20, 50, 100, and 200-day EMAs), keeping the broader trend bearish. The 20-day EMA near $61,958 stands as the first major resistance, while a cluster of liquidity between $61,400 and $62,000 continues to attract short-term trading activity. BTC briefly touched $61,684 in the past 24 hours, a 2.71% gain, but has yet to achieve a decisive close above that barrier.
Glassnode and analyst Ali Charts point to a 30-day accumulation trend across wallet cohorts: those holding less than 1 BTC, 10–100 BTC, and even large wallets of 1,000–100,000 BTC have reduced selling or started buying again. This simultaneous accumulation from small and large holders historically has established stronger price floors during consolidation phases. Falling leverage and steady exchange outflows further hint at a healthier market structure.
Analysts caution that the upcoming US Non-Farm Payroll data could inject fresh volatility. Trader Lennaert Snyder identified $59,200 as a crucial demand zone; a breakdown below that could trigger a retest of lower supports, while holding above $61,000 might pave the way toward $63,500. The successful defense of the $59,000–$59,500 support in recent days has lent some short-term bullish momentum.
Metaplanet’s treasury expansion of 2,823 BTC mirrors a broader pattern of corporate Bitcoin adoption, reinforcing long-term confidence even as the asset grapples with bearish moving-average structures. If the accumulation trend persists and macro headwinds subside, analysts foresee a potential recovery phase taking shape.
