Bitcoin (BTC) Price Today: Bitcoin Climbs from $113K Dip—Will Michael Saylor’s Third-Largest BTC Purchase Spark a Surge?

Bitcoin is back in the spotlight after rebounding from $113K, with investors eyeing a potential surge toward the $118K level. Momentum is building amid bullish whale activity and fresh institutional inflows.

MicroStrategy’s latest $786 million Bitcoin purchase—their third-largest to date—has reignited market optimism, pushing BTC higher as it regains strength following last week’s volatility. Analysts are now watching key resistance near $118K, with short-term support firmly established above $111K.

Market Overview: Bitcoin Technical Analysis Signals Strength

Bitcoin (BTC) is currently trading around $114,134, having recovered from a recent low of $113,000. This bounce brings price action closer to the key resistance at $115,343, where a descending trendline has kept bulls in check. Technical indicators show early signs of bullish reversal.

Bitcoin (BTC) was trading at around $114,134, down 1.03% in the last 24 hours at press time. Source: Bitcoin Liquid Index (BLX) via Brave New Coin

A bullish RSI divergence emerged during the pullback, suggesting that downward momentum may be fading. Meanwhile, candlestick patterns near resistance levels—such as the formation of a shooting star—signal short-term hesitation, potentially from profit-taking.

Should BTC break and close above $115,343, it could open the door to further upside targets at $116,912 and $118,878, confirming a continuation of the current uptrend.

Institutional Momentum: Saylor’s Strategy Buys Over $2.4 Billion in BTC

Michael Saylor’s firm, Strategy, added 21,021 Bitcoin between July 28 and August 3, at an average price of $117,526 per BTC—just under its all-time highest purchase price. The acquisition, worth $2.46 billion, pushes the firm’s total Bitcoin holdings to 628,791 BTC, currently valued at over $71 billion.

Strategy, led by Michael Saylor, has acquired 21,021 Bitcoin for approximately $2.4 billion, marking one of its largest-ever BTC purchases. Source: @SimplyBitcoinTV via X

According to BitcoinTreasuries.net, Strategy remains the largest corporate holder of Bitcoin globally, far outpacing competitors like MARA Holdings. Saylor’s consistent and bold moves continue to influence institutional behavior across the crypto space.

To finance its latest acquisition, Strategy leveraged a mix of common and preferred share sales and debt offerings. Its recent preferred stock launch, “Stretch”, helped raise additional capital without excessively diluting shareholder value. In its Q2 report, Strategy reported $14 billion in unrealized gains, bolstered by accounting changes and the BTC price rebound.

Trend Drivers: Regulation, ETFs, and Global Bitcoin Adoption

Bitcoin’s latest upswing coincides with several macro tailwinds. In the U.S., new White House crypto oversight proposals would divide regulatory duties between the CFTC and SEC, ending years of ambiguity. Legal clarity is expected to boost institutional confidence in assets like Bitcoin, which would be categorized as a digital commodity under the CFTC’s jurisdiction.

France’s far-right pushes a bold plan to mine Bitcoin with surplus nuclear energy, aiming to generate $150 million annually through state-backed crypto mining. Source: @FXFinanceFeeds via X

Meanwhile, France’s RN Party has proposed using excess nuclear energy for Bitcoin mining, signaling a potential paradigm shift in the energy narrative surrounding BTC. This policy, if passed, could further establish Bitcoin’s long-term sustainability credentials.

Elsewhere, former UK Chancellor George Osborne warned that Britain risks falling behind in the crypto innovation race, pushing policymakers to adopt a more competitive stance—an evolving trend that may increase Bitcoin’s appeal across Europe.

Expert Insights: Bitcoin as an Inflation Hedge and Store of Value

Michael Saylor’s aggressive acquisition strategy reflects his belief in Bitcoin’s role as a long-term inflation hedge and digital gold. “Our goal has always been to maximize shareholder value by accumulating a scarce and appreciating asset,” Saylor stated in recent comments.

Despite earlier reluctance, Saylor sold nearly $1.6B in equity at an average of 1.9x mNAV from June 30 to July 21—below his stated 2.5x threshold. Source: James Chanos via X

Critics, such as short-seller Jim Chanos, have voiced concerns over the premium placed on Strategy’s stock due to its crypto-centric business model. In response, Saylor pledged not to issue new common shares at less than 2.5x net asset value, except for covering debt interest or dividends—a move intended to reassure investors.

Since entering the Bitcoin market in 2020, Strategy’s stock price has soared over 3,000%, outperforming both BTC and traditional benchmarks like the S&P 500.

What’s Next for Bitcoin? BTC Price Prediction and Outlook

While short-term volatility remains, Bitcoin’s technical setup and institutional tailwinds suggest the bulls may have room to run. If the price holds above the $113,000 support and decisively breaks $115,343, the next leg toward $118,000 could follow swiftly.

Bitcoin’s H4 trend has shifted to align with the broader bullish structure, suggesting a potential return to the $118,500 price range. Source: dhanuhardyanto on TradingView

With the 2025 Bitcoin halving approaching and ETF speculation ongoing, Bitcoin’s medium-term outlook is increasingly bullish. Whether fueled by regulatory clarity or billion-dollar treasury buys, Bitcoin’s narrative as a global financial hedge appears to be strengthening.

Bitcoin’s rebound from $113K, coupled with Michael Saylor’s massive buy, sets the stage for a potential breakout. Traders and long-term investors alike will be watching closely as BTC eyes $118K—fueled by institutional confidence, regulation, and growing mainstream acceptance.