Metaplanet Expands Bitcoin Treasury Past 20K BTC Worth Over $2.2B

Bitcoin is once again under pressure as it struggles to break above $114,000 while failing to close decisively below $110,000, creating a tight range that reflects uncertainty in the ￰0￱ are losing ground as momentum shifts, and fear is beginning to spread among traders and ￰1￱ inability to reclaim higher levels highlights the weight of selling pressure, with some analysts warning of a possible deeper correction if demand doesn’t increase soon. Still, strong fundamentals continue to support the long-term market ￰2￱ adoption remains a key driver, with more companies quietly adding BTC to their treasuries despite short-term ￰3￱ conditions, particularly rising inflation concerns, are also keeping Bitcoin relevant as a hedge, even as markets ￰4￱ to this narrative, blockchain analytics platform Lookonchain reported that Metaplanet, Japan’s first and only publicly listed Bitcoin Treasury company, bought another 1.36 BTC ($15.26M) at an average price of $112,180.

This purchase pushes its holdings further, reinforcing its long-term conviction in Bitcoin as a reserve ￰5￱ Adoption Strengthens Bitcoin According to Lookonchain, Metaplanet now holds 20,136 BTC valued at approximately $2.24 billion, with an average purchase price of $102,495. This milestone underscores the company’s conviction in Bitcoin as a long-term treasury ￰6￱ many firms that only experiment with small allocations, Metaplanet has cemented itself as Japan’s leading corporate adopter of Bitcoin, reflecting a broader global shift in institutional ￰7￱ is important to note that not only US-based firms such as Strategy, Bitmine, and SharpLink are driving crypto ￰8￱ companies like Metaplanet are also entering the arena, showcasing Bitcoin’s increasing appeal as a treasury reserve asset beyond US ￰9￱ diversification in adoption further validates Bitcoin’s role as a global store of ￰10￱ ahead, the coming weeks will be decisive.

Historically, September has been considered a bearish month for Bitcoin, with many analysts expecting further corrections. Yet, markets often defy seasonal expectations, and this year could bring surprises if both Bitcoin and Ethereum manage to reclaim higher ￰11￱ BTC holding above key support zones and institutions steadily adding to their treasuries, sentiment may quickly shift from caution to ￰12￱ Consolidation Above $110K Bitcoin is trading around $112,019, showing signs of stabilization after weeks of volatility and sharp pullbacks from its all-time high near $124,500. The chart highlights how BTC is attempting to build a base above the $110K level, which has become a key demand ￰13￱ price is currently holding above the 100-day SMA (green line) at $111,980, signaling that bulls are defending critical medium-term support.

However, momentum remains ￰14￱ 50-day SMA (blue line) is trending downward, showing that short-term sentiment is still under ￰15￱ 200-day SMA (red line), sitting much lower at around $101,824, marks a long-term safety net, but a retest of this level would signal a much deeper ￰16￱ now, the battle remains between holding the $110K–$112K range and reclaiming the $115K zone, which is the next resistance aligned with the declining moving ￰17￱ bulls manage to close decisively above $115K, the path toward a retest of $123K resistance could ￰18￱ the downside, a break below $110K would likely accelerate selling pressure, exposing BTC to $105K or even deeper.

Overall, the chart shows consolidation, with buyers attempting to regain control amid cautious ￰19￱ image from Dall-E, chart from TradingView