Bitcoin saw a 1.5% price increase in the past 24 hours, driven largely by new corporate and state-level accumulation.
Bitcoin’s climb back above $106,000 follows a wave of fresh institutional activity. Norway’s K33 raised $17 million to increase its BTC holdings, calling the asset their top performer.
U.S.-based Cardone Capital purchased 150 BTC for a crypto-real estate strategy, while Arizona lawmakers approved a bill to create a state-managed Bitcoin reserve from seized assets.
These moves join existing heavyweights like Metaplanet and Semler Scientific, who now hold more than 13,000 BTC combined.
ETF Dominance and Global Policy Shifts
BlackRock’s iShares Bitcoin Trust now holds 3% of Bitcoin’s supply, helping restrict market liquidity. This tightening supply comes amid renewed policy momentum. South Korea’s plan to legalize spot crypto ETFs by year-end has lifted sentiment across Asia. Meanwhile, surging U.S. debt, now at $37 trillion, is driving renewed interest in Bitcoin as a hedge against monetary instability.
Key Technical Zone Holds Firm
Bitcoin continues to find support at the $106,200 level, the 50% Fibonacci retracement of recent highs. On-chain data from CryptoQuant shows steady whale accumulation, despite lighter ETF inflows. If BTC holds this zone, a retest of the $111,000 resistance could follow. However, traders remain cautious as momentum signals remain mixed.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-reclaims-106k-whats-fueling-the-price-surge/