For now, analysts are divided on whether Bitcoin can sustain this rebound, with some pointing to $119.5K as a crucial breakout level and others expecting a retest of lower support near $114.5K. Meanwhile, Japanese firm Metaplanet doubled down on its Bitcoin strategy by purchasing an additional 780 BTC for $92 million, bringing its total to 17,132 BTC. The company’s aggressive BTC accumulation fueled a 246% year-to-date surge in its stock price, making it Japan’s top-performing stock with plans to expand into digital banking.
Bitcoin Gains Ground
Bitcoin surged past $119,000 on Sunday, staging an impressive rebound from two-week lows close to $114,500. The move reignited bullish momentum and started fresh discussions among traders about whether BTC could soon break above key resistance levels.
BTC price action over the past 7 days (Source: CoinMarketCap)
Charts show BTC/USD approaching a critical reclaim area, with bulls trying to close the day above the 10-day simple moving average. This recovery came despite recent bearish pressure after one of the largest-ever Bitcoin sales, and coincided with news that the US and China agreed to postpone the implementation of new trade tariffs, which may have eased broader market tension.
Crypto investor Ted Pillows commented that Bitcoin needs to decisively clear $119.5K for a breakout, and added that if it fails to do so, current consolidation could persist. He is optimistic that BTC might achieve this breakout next month, initiating the next leg higher.
Popular analyst Rekt Capital pointed out that Bitcoin successfully closed above the lower boundary of its recent range, suggesting that the asset could be reentering a previously lost trading zone. He warned, however, that any pullbacks into that range low could serve as critical retests to confirm the move.
Not all analysts are convinced the uptrend will hold without further tests to the downside. Trader CrypNuevo identified a potential mid-term target in the $114.5K–$113.6K range, which aligns with a concentration of order-book liquidity and prior liquidation zones. From this perspective, a revisit to lower support levels is still very much on the table.
According to CoinGlass data, the current “max pain” point for short positions lies around $119,650. If BTC were to push back toward its all-time highs near $123,000, the resulting short liquidations could surpass $1.1 billion. Coinank's own liquidity models also indicate strong resistance between $119,000 and $120,000 due to dense liquidation clusters at those levels.
Adding to the volatility picture, analyst TheKingfisher warned that short-term price swings may become more pronounced. His gamma exposure analysis showed dealers heavily short gamma, a condition that tends to increase market turbulence as they hedge their positions. This dynamic suggests that traders should brace for amplified volatility in the immediate future.
Metaplanet Buys More BTC
Some companies are not too worried about whether BTC’s price will go up or down next. In fact, Japanese investment firm Metaplanet acquired an additional 780 Bitcoin, bringing its total holdings to 17,132 BTC.
The company revealed the purchase on Monday, and shared that it paid an average of approximately $118,145 per Bitcoin—just under the current trading price of $118,656. The total cost of the latest buy was about $92 million, and in total, Metaplanet invested roughly $1.7 billion in Bitcoin, with an average acquisition cost of $99,640 per coin.
This strategic move places Metaplanet seventh on the list of top Bitcoin corporate treasuries worldwide. It sits just behind Trump Media & Technology Group, which holds 18,430 BTC, and ahead of Galaxy Digital Holdings, led by Michael Novogratz, which owns 12,830 BTC. While Metaplanet’s holdings are impressive, they still fall far short of Strategy, the global leader with over 607,770 BTC, valued at more than $72 billion.
Top Bitcoin treasury companies (Source: BitcoinTreasuries.NET)
Metaplanet made it clear that its Bitcoin purchases are part of a broader vision. Reports suggest the company plans to eventually leverage its digital assets to acquire cash-generating businesses, potentially including a digital bank in Japan.
This approach reflects a tailored strategy, which CEO Simon Gerovich described in a recent Forbes Japan interview as “Japan-native,” designed to align with local regulatory and tax frameworks. He also explained that the company’s model enables Bitcoin exposure through tax-free savings accounts, making it more accessible to Japanese investors.
Metaplanet’s YTD stock price (Source: Google Finance)
The bold Bitcoin-focused strategy has paid off handsomely for Metaplanet’s shareholders. The company’s stock has soared 517% over the past year and 246% year-to-date, trading at $8.36 as of Monday. Gerovich acknowledged the unexpected pace of growth, and said that Metaplanet became Japan’s top-performing stock with record trading volume and a market cap of more than ¥1 trillion.
