BTC demonstrates recovery potential after testing $98,dogecoin news200 support level during weekend volatility
Japanese investment firm MetaPlanet reveals strategic BTC accumulation now totaling 11,111 coins
Global markets experience risk-off sentiment following escalated Middle East tensions
The cryptocurrency market opened the week with Bitcoin showing tentative recovery signs after geopolitical tensions triggered a weekend selloff. Trading around $102,000 at press time, BTC appears to be regaining footing following Sunday's dip to $98,200. This price action comes amid notable institutional activity, with MetaPlanet announcing substantial BTC additions to its corporate treasury.
Geopolitical Uncertainty Weighs on Crypto Markets
Sunday's market turbulence followed unexpected developments in Middle East geopolitics, with reports of military actions against nuclear facilities sparking immediate risk aversion across asset classes. The cryptocurrency market reacted sharply, with BTC briefly losing its psychological $100,000 support level before institutional buyers emerged.
Market data reveals significant liquidation activity during the volatility spike, with leveraged positions worth over $656 million getting wiped out across exchanges. The most substantial single liquidation occurred on a major trading platform, involving a $35 million BTC-USDT position.
Institutional Players Demonstrate Confidence
Despite the geopolitical backdrop, institutional interest in Bitcoin remains robust. MetaPlanet's latest disclosure confirms the firm's continued accumulation strategy, adding 1,111 BTC to bring its total holdings to 11,111 coins. This move represents one of the largest single-day institutional BTC purchases reported this quarter.
Technical Outlook: Recovery Potential Meets Resistance
Analyzing the BTC/USDT daily chart reveals several critical technical developments. The asset currently trades below its 50-day exponential moving average at $102,942, with immediate resistance expected between $102,968 and $103,800. This zone represents both the moving average resistance and the volume profile point of control.
Market technicians note an unfilled CME gap between $101,705 and $103,365, which historically tends to get filled before trend continuation. This technical factor suggests potential near-term upside before any resumption of downward pressure.
Key momentum indicators present mixed signals. The Relative Strength Index (RSI) at 39 shows slight upward momentum from oversold conditions, while the MACD maintains a bearish crossover pattern. Traders will watch for daily closes above $103,800 as potential confirmation of extended recovery toward $109,588 resistance.
Market participants remain cautious given ongoing geopolitical developments, with potential responses from affected nations representing an unknown variable that could impact risk assets. The coming sessions will test whether institutional accumulation can offset broader market uncertainty.
