Bitcoin Eyes $105K After Tether-Backed Firm Buys 4,812 BTC

Key Notes Twenty One Capital buys 4,812 BTC worth $458.7M in a major institutional move. Bitcoin briefly touches $105K before settling near $104K, up 7.5% in 24 hours. Retail Bitcoin purchases rose 3.4% in two weeks, signaling potential broader bullish momentum. Tether-backed Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B investment firm Twenty One Capital has recently purchased 4,812 BTC worth around $458.7 million. The acquisition is conducted as part of a private investment in public equity (PIPE) deal related to the firm’s ongoing SPAC merger with Cantor Equity Partners. As per the US Securities and Exchange Commission (SEC) filing dated May 13, Twenty One Capital’s total Bitcoin holdings have now grown to 36,312 BTC. However, 31,500 BTC from this total is held in custody by Cantor Equity Partners on behalf of the company. The timing of this major institutional Bitcoin purchase is particularly notable as Bitcoin continues its strong upward trajectory. The largest cryptocurrency recently touched the $105,000 mark, placing itself within striking distance of its previous peak of $109,114. The broader market environment is also turning favorable as recent CPI data showed lower-than-expected inflation figures. On-chain metrics reveal that retail investors, who are often quick to react to market changes, are returning. Interestingly, retail purchases (defined as transactions under $10,000) increased by 3.4% from April 28 to May 13. According to a CryptoQuant analyst, this uptick in retail activity could soon result in broader, sustained growth across various bullish metrics. Bitcoin (BTC) Price Outlook Earlier on May 14, Bitcoin tested the $105,000 resistance but is now trading slightly lower at around $104,000, still up by 7.5% over the last 24 hours. The buying pressure is being supported by both institutional demand and resurging retail interest. On the daily BTC price chart, the RSI is sitting at 69.42, just below the overbought threshold. This indicates bullish momentum but also warns of a potential minor correction. However, if BTC breaks and holds above $106,500, bullish continuation is likely. BTC price chart with RSI and Bollinger Bands | Source: TradingView The Bollinger Bands widening with price candles pushing the upper band—a sign of overbought conditions. If the cryptocurrency tested the mid-band (20-day SMA) near $98,200, traders could see short-term consolidation or a price breakdown to the $89,900 support. Note: this is a sponsored message from our partners Bitcoin Bull Presale Gains Momentum as BTC Nears $105K As Bitcoin shows renewed strength, one meme coin is gaining traction. It’s Bitcoin Bull. This project is drawing attention with its simple but powerful pitch — ride Bitcoin’s bullish momentum all the way up. About BTCBULL: Use Case and Its Tokenomics Bitcoin Bull ecosystem’s native token BTCBULL offers a unique milestone-based presale opportunity that directly links to Bitcoin’s performance. For every $25,000 increase in Bitcoin’s price from $100K to $250K, BTCBULL holders unlock fresh rewards. These include deflationary token burns and even Bitcoin airdrops, leading to community excitement and engagement. The final milestone? When Bitcoin hits $250,000, a grand BTCBULL airdrop will reward loyal holders. This design aligns incentives. BTCBULL Presale Details: Current Price: $0.00251 Funds Raised: $5.7 million Ticker: BTCBULL Payment Options: ETH, USDT The presale has already raised an impressive $5.7 million out of its $6.69 million target. Investors could expect a value rise in BTCBULL in less than 24 hours. For those betting big on Bitcoin’s next surge, Bitcoin Bull could be the project worth considering. next Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content. Tether (USDT) News, News A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books. Parth Dubey on LinkedIn Source: https://www.coinspeaker.com/bitcoin-attempts-105k-break-firm-buys-4812-btc/