Bitcoin is trading around $82,000, supported by additional corporate purchases of bitcoin and a rebound in U.S. stocks. The article reports details of additional purchases by Strategy and Strive, as well as the Nasdaq's rebound and macroeconomic trends.
In the early morning of 20 October, Bitcoin was trading around $82,000, showing signs of recovering from the previous week's decline. Some market participants attributed the support for prices to additional purchases by companies.
Strategy acquired 267 BTC for approximately $22.1 million between 12 and 18 October, increasing its holdings. Strive acquired 1,223 BTC during the same period, bringing its total holdings to 36,818 BTC.
U.S. stocks also rebounded, with the Nasdaq Composite rising more than 1% on the 19th. Buying spread across semiconductor and AI-related stocks, and caution toward risk assets eased somewhat.
On the macro front, China's third-quarter GDP rose 4.5% year on year, exceeding market expectations, while crude oil prices fell. These developments are helping ease concerns about inflationary pressure. Going forward, attention will focus on corporate bitcoin purchases and the macroeconomic environment, including the U.S. stock market, U.S. Treasury yields and inflation indicators.