Bitcoin institutional buying pauses and Thai court rules on crypto: Can BTC regain momentum?

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Bitcoin slips 0.82% today to $80,234

Highlights

Strategy allocated $204.9 million to repurchase 2.07 million STRC preferred shares and kept its Bitcoin holdings at 848,517 coins with no new BTC purchases.
The Thai Supreme Court recognized Bitcoin as property rather than money, clarifying status but not legal tender use in Thailand.
BTC/USD faces persistent selling pressure below key moving averages, with technicals signaling a 71% probability of continued move toward $78,004 to $80,869 over the next two to three days.

Institutional buying stalls as capital shifts and Thai ruling clarifies status

Strategy, one of the largest corporate holders of Bitcoin, made no additional BTC purchases last week and instead directed $204.9 million to repurchase 2.07 million STRC preferred shares, keeping its Bitcoin holdings steady at 848,517 coins acquired at an average cost of $75,446 each, according to Analyticsinsight. This capital allocation indicates a pause in institutional accumulation, limiting the near-term impact of large-scale buying on market liquidity. Separately, the Thai Supreme Court’s decision to recognize Bitcoin as property rather than money, as reported by Cryptopolitan, clarifies regulatory status in Thailand but does not alter its legal tender status, with the Bank of Thailand maintaining that position.

Sell signals intensify as key resistance and oversold indicators converge

On the technical front, BTC/USD currently trades below both the MA-20 ($80,861) and MA-50 ($80,647) on the hourly chart, while still holding above the MA-200 ($73,111). The Ichimoku Kijun level at $80,766 now acts as immediate resistance. RSI is reading at 33.23, with Stoch RSI, CCI, and Bull/Bear Power each signaling oversold or 'Sell' conditions. MACD, ADX, and the Awesome Oscillator all register 'Sell' signals, indicating momentum remains on the side of short-term sellers, with price action situated near today’s intraday lows and no meaningful bullish divergences in sight.

Downside bias prevails as technical band constrains near-term moves

In the near term, BTC/USD is expected to consolidate within the $78,004 to $80,869 band over the next two to three trading days, reflecting typical volatility around current levels. Model probabilities favor a 71% chance of a move to the downside and only a 29% likelihood of a recovery above resistance. As a result, the baseline scenario is for continued sideways consolidation; however, a sustained break above $80,766 would be required to shift momentum upward, while a clear drop below support around $78,004 could open the door for further declines.

Anton Kharitonov, expert at Traders Union, sees a pause in institutional demand, with Strategy halting new Bitcoin purchases and allocating capital elsewhere. Technical momentum is weak, and key short-term averages remain unclaimed, while oversold signals persist across several indicators. Fundamental clarity in Thailand is a positive, but the lack of new catalysts and ongoing consolidation suggests caution. "Base case remains sideways — unless BTC/USD firmly reclaims $80,766, I stay defensive."

Previously it was reported that Google Cloud is developing advanced multi-party computation tools to enhance the security of institutional Bitcoin custody. Against this backdrop, traders should monitor whether ongoing infrastructure improvements facilitate greater institutional participation, which could intensify price moves if Bitcoin breaches key support at $78,004 or resistance at $80,766.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.