Bitcoin Price Analysis: $2 Billion Bitcoin Acquisition by Trump Media Now Underwater – Where Is the Onchain Support?
Trump Media’s $2 billion Bitcoin treasury, acquired at an average price of $118,000 per BTC, is now facing mounting losses as the cryptocurrency tests a critical support level. Currently, Bitcoin is hovering around the 50-week exponential moving average (EMA) support at approximately $100,887.
Analysts are closely monitoring the price action, highlighting key resistance zones between $106,000 and $120,000. These levels will be crucial in determining whether Bitcoin can rebalance and recover from recent downward pressure.
As the market digests this significant dip below the acquisition cost for Trump Media’s holdings, onchain data will play an important role in identifying support areas and potential reversal points. Stay tuned for further updates as the situation develops.