Bitcoin (BTC) hit $77,000 on Friday as business intelligence firm Strategy returned to corporate treasury gains.
Key points:
- Bitcoin reached its highest level since May 26 as it revisited $77,000.
- Priced at $75,385, Strategy’s BTC returned above cost basis for corporate treasury.
- About 11% of BTC supply forms a new band of support below $68,000.
Out of the red strategy with Bitcoin at its highest since May
Data from TradingView showed a fresh local high above $77,400 before the final Wall Street open of the week.
BTC/USD one day chart. Source: Cointelegraph/TradingView
Now up nearly 20% in 48 hours, BTC/USD has seen little in the way of consolidation as the world’s largest corporate bitcoin treasury company has regained a key level for the strategy. Data from monitoring resources Bitcoin Treasury That puts the cost basis for the strategy’s holdings of 840,447 BTC at $75,385, with currently estimated year-to-date gains. $450 million.
Strategy bitcoin treasury cost base data. Source: BitcoinTreasuries
As reported by Cointelegraph, between August 3 and August 9, Strategy is chosen to sell A small portion of the treasury worth 1,690 BTC to repurchase 1.15 million shares of its STRC preferred stock for $108.6 million. The move represents the company’s fourth bitcoin sale of 2026.
The sale was accompanied by concerns over the long-term viability of the company’s bitcoin investment thesis, something that should help mitigate subsequent BTC price surges, independent crypto analyst William Clement suggested.
“Not only should Saylor/Strategy’s fears be alleviated for a while once he appears willing to sell BTC to repurchase STRC, but now they are more collateralized by their BTC holdings after this price trend,” he said. wrote At X, referring to former CEO Michael Saylor.
in a Interview with Fox News In early August, current CEO Fong Le said that the Bitcoin buying strategy would return before the end of the year.
New BTC buy wall sits below $68,000
between Doubts about sustainability Bitcoin Volatile Uptrend, Analysis from OnChain Analysis Platform Glass node Revealed a new safety net under $70,000.
Related: Bitcoin ‘cleared massively’ before falling 50% from $126K: BlackRock
About 3.44 million BTC now have an onchain cost base, also known as realized value, of between $58,000 and $67,000. Of this, 2.23 million BTC – equal to about 11% of the total supply – was added in the last 11 weeks.
“This is the densest cost-based cluster below Spot – a key potential support zone in any retracement,” Glassnode co-founder Raphael Schultze-Kraft commented on X.
Bitcoin Realized UTXO Price Distribution Data. Source: Raphael Schultze-Kraft on X.com
BTC/USD broke through several key resistance levels this week, including its 200-day simple moving average (SMA) at $68,967, a The main goal of recovery To end the long-term BTC price downtrend.
