- The Bitcoin price was trading above $64000 and strong buying pressure was observed in the technical indicators.
- The strategy increased cash holdings to $4 billion while STRC recovered above recent lows.
- Bitcoin was trading under pressure around the $64750 resistance level while the support level at $64186 Fibonacci was intact.
Bitcoin price remained above the $64,000 level on Wednesday as technical indicators pointed to improving short-term momentum, while Strategy’s perpetual preferred stock, STRC, continued its recovery from June lows.
Bitcoin traded around $64,577 during the session after posting a daily gain of just over 1%, with market capitalization and trading volume also recording modest increases.
Bitcoin Price Shows Stronger Technical Structure Above Key Indicators
The price of Bitcoin was trading at around $64,577, marking a 1.11% increase from the past 24 hours. The crypto asset was seen moving towards the $64,600 level, as the market cap of Bitcoin reached up to $1.29 trillion.
On the four-hour time frame, bitcoin moved near $64,573 following an increase of 0.87% from its price at the end of the session. The present trend of the coin has enabled the cryptocurrency to cross its 20, 50, 100, and 200 EMAs, thus indicating improved market strength in the short run.
Moreover, the 20-period EMA has also gone up northwards after the buying pressure has emerged in the market after consolidation. The RSI has also appreciated to 62.67, still remaining in the underbought territory with rising buying pressure.
For the coin to break above technical resistance ranging from $64,700 and $65,000, it needs to hold the support level of $64,000.
Bitcoin Price Faces Fibonacci and Bollinger Band Resistance
Additional technical indicators also highlighted important price levels.
Bitcoin was trading at around $64,521 while staying above the 0.5 Fibonacci retracement level of $64,186. Staying above this level means that buyers have been holding control after the recent rise. The recent rally saw bitcoin get very close to the 0.786 Fibonacci retracement level of $64,750.
Source: Trading View
The cryptocurrency was also trading above the 20-period Bollinger Band mid-point of $63,595 as well, showing further strength. The upper Bollinger Band, located at $64,717, is acting as an immediate resistance level for the cryptocurrency.
If it breaks through that resistance level, it will open up the next resistance levels at $65,170 and then $66,393. The cryptocurrency may be pulled lower if it cannot stay above the Fibonacci level at $64,186, with support levels at $63,600-$63,400.
Important Technical Levels
- Resistance: $64,18
- Resistance: $64,717-$64,750, then $65,170 and $66,393.
- Momentum: RSI at 62.67 while price remains above all major four-hour EMAs.
Strategy Expands Cash Reserves While STRC Continues Recovery
Alongside bitcoin’s stabilization, Strategy’s perpetual preferred stock, STRC, continued recovering from its June decline.
STRC traded around $96 after gaining more than 30% from its late-June low near $71. The preferred stock also added approximately 1% during Wednesday’s trading session.
Source: Google Finance
Since late June, Strategy has completed three bitcoin sales totaling 5,226 BTC for approximately $321 million. Those transactions reduced the company’s bitcoin holdings from 847,363 BTC to roughly 842,137 BTC.
According to the company, the sales were partly intended to demonstrate that bitcoin can be used to meet dividend obligations rather than remaining an inactive treasury asset.
Strategy also repurchased $106 million of STRC as part of efforts to return the preferred stock to its stated value of $100.
Separately, the company increased its U.S. dollar reserve by another $250 million, bringing total cash reserves to approximately $4 billion. Based on the company’s figures, that reserve provides around 2.3 years of coverage for dividend obligations tied to its preferred securities. Strategy also maintained STRC’s annualized dividend rate at 12%.
Highlights of Strategy
- BTC holdings were cut down to around 842,137 BTC after three disposals.
- STRC remained near $94, while the company continued repurchasing shares.
Historical Timeline Points to September Target
During its second-quarter earnings call, Strategy referenced the trading performance following STRC’s initial public offering.
The company noted that after the preferred stock traded around $90 in July 2025, it required 70 trading days to return to its $100 stated value. Applying that same timeframe to the current recovery places Sept. 8 as a potential date for STRC to reach par again.
The company stated that the timeline is based on historical trading patterns, while acknowledging that future market performance will determine whether the preferred stock reaches that level.
FAQs
What is the current Bitcoin price discussed in the report?
The price of bitcoin ranged from $64,500-$64,600 with an increase of 1% for the day.
What are the key resistance and support levels of bitcoin?
Immediate resistance is in the range of $64,700-$64,750 and the support is at $64,186 and $6
Why did Strategy sell bitcoin?
The company said the sales were partly intended to demonstrate that bitcoin could be used to meet dividend obligations while strengthening treasury management.
