Bitcoin Analysis: Corporate Treasuries Swell as On-Chain Activity Points Upward

Bitcoin’s consolidation just above the $104,500 mark is being underpinned by a powerful trend: growing corporate adoption of the digital asset. Leading the charge is Strategy (MSTR), which now holds 580,250 BTC, establishing itself as the ultimate corporate bellwether for Bitcoin investment.

Other notable institutions increasing their Bitcoin reserves include:

• XXI (CEP): 31,500 BTC
• Galaxy Digital (GLXY.TO): 12,830 BTC
• Block, Inc. (XYZ): 8,584 BTC
• MetaPlanet (3350.T): 7,800 BTC

The top five alone account for over 640,000 BTC. The trend spans industries, from tech and finance to retail, illustrated by holdings from Next Technology Holding Inc. (5,833 BTC) and even GameStop Corp. (4,710 BTC).

These 61 companies now own 3.2% of all #Bitcoin – about 680,000 #BTC. These were all buys over 90k per $BTC. Bullish. pic.twitter.com/cHkc0XTR3s

— MartyParty (@martypartymusic) June 5, 2025

Related: Deaton Predicts Elon Musk Will Buy More Bitcoin After Spending Bill Sparks Fury

On-Chain Activity Supports Bullish Long-Term Case

This increasing institutional appetite for Bitcoin is mirrored by rising on-chain momentum. On May 29, over 556,830 new BTC wallets were created, the highest daily tally since December 2023, according to Santiment.

Meanwhile, June 2 saw a spike in Bitcoin circulation, with over 241,000 BTC moved, the most since December 8, 2024.

📊 Bitcoin’s on-chain activity has seen sharp rises this week as its price hovers just below $105K:

📈 May 29th: 556,830 new $BTC wallets created (Highest since December 2, 2023)

🔄 June 2nd: 241,360 coins circulated (Highest since December 8, 2024)

Growth in a network’s… pic.twitter.com/2DxknVXrKT

— Santiment (@santimentfeed) June 5, 2025

Glassnode’s URPD data shows significant accumulation above $90,000, with most activity led by wallets holding 100 to 10,000 BTC. This clear “institutional skew” suggests confidence in the current price range. Large whales–holders of 10,000 to 100,000 BTC–show clustering around $78K to $90K, as well as the current levels, further reinforcing this view.

Technical Analysis: RSI Neutral, MACD Bearish but Stabilizing

As per below’s daily chart, Bitcoin’s RSI stands at 50.75, nearly neutral, while its signal line is higher at 57.71, indicating a slight bearish divergence.

This suggests that momentum is cooling, but not yet oversold, leaving room for either consolidation or a rebound if bullish catalysts return.

Source: TradingView

The MACD tells a similar story. The MACD line is at -866, significantly below the signal line at 2,027, pointing to bearish momentum. However, histograms are flattening, indicating that the selling pressure may be slowing.

Related: Crypto Trader James Wynn’s $100M Peak Fortune Decimated in “$25M+ Matrix Attack”

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Source