- Bitcoin steadies at $95K despite whale activity and political turmoil.
- MicroStrategy continues aggressive Bitcoin purchases, holding over 400,000 BTC.
Bitcoin (BTC) remains steady around the $95,000 mark despite fluctuations. Trading at $95,463 at the time of writing, the cryptocurrency has seen a 4.1% weekly gain and a modest 0.39% surge over the past 24 hours. After reaching an all-time high of $99,655 on 11 November, Bitcoin’s momentum has slowed, with analysts closely monitoring whale activity and broader market dynamics.
Key metrics like Bitcoin’s MVRV ratio, at 2.57, signal moderate profitability without overvaluation risks. Additionally, active addresses, a measure of network activity, have rebounded to over 900,000 after briefly dipping below 750,000 in early December, indicating renewed retail interest. The daily RSI shows that it is reaching an overbought scenario.
Meanwhile, MicroStrategy continues its aggressive Bitcoin acquisition strategy, now holding 402,100 BTC worth $38.2 billion at an average purchase price of $58,263. The company recently raised $1.5 billion through share sales to buy 15,400 BTC between 25 November and 1 December. However, MicroStrategy’s market capitalization has declined by over 35% since its November peak, erasing more than $30 billion in value.
Also, Bitcoin miner MARA Holdings acquired 6,484 BTC in October and November, bringing its holdings to 34,959 BTC, valued at $3.3 billion.
Tension Aroses Around BTC With K-Political Drama
In South Korea, crypto trade volumes surged to a record $34.2 billion in 24 hours amid political turmoil. President Yoon Suk-yeol declared martial law late Tuesday, sparking panic selling on local exchanges. Upbit alone processed $27.25 billion in trades, with Bitcoin briefly dropping to 88 million won. The martial law was rescinded six hours later following a unanimous parliamentary vote.
While prices have since stabilized, South Korea’s opposition party plans to file treason charges against Yoon and key ministers, raising further political and market uncertainty.
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