Bitcoin surge momentum continues as institutional investors double down. Tether-backed investment firm Twenty One Capital just acquired 4,812 BTC, valued at approximately $458.7 million.
This significant purchase comes as part of a PIPE (Private Investment in Public Equity) deal tied to the firm’s ongoing SPAC merger with Cantor Equity Partners, according to a May 13 SEC filing.
Bitcoin Holdings Now Exceed 36,000 BTC
Following the deal, Twenty One Capital’s Bitcoin reserves now total 36,312 BTC. However, 31,500 BTC are held in custody by Cantor Equity Partners on behalf of the firm.
This move marks one of the largest single-day institutional Bitcoin purchases of the year—timed perfectly as Bitcoin trades near its all-time high.
Market Timing Aligns With Bullish Momentum
Bitcoin’s price recently touched $105,000, just shy of its previous high of $109,114. The broader crypto market is also gaining strength thanks to cooling inflation data and improving on-chain sentiment.
Retail investor activity is also picking up. Transactions under $10,000 rose by 3.4% between April 28 and May 13, according to data from CryptoQuant. Analysts believe this could trigger more consistent growth in key bullish metrics.
BTC Price Forecast: Resistance and Potential Pullbacks
At the time of writing, Bitcoin is trading around $104,000, up 7.5% in 24 hours. Indicators suggest strong upward momentum, but some signs of caution remain.
The RSI sits at 69.42, just below the overbought threshold of 70. Meanwhile, Bollinger Bands are widening, with candles testing the upper band. This suggests potential short-term volatility.
If Bitcoin breaks above $106,500 and holds, we could see a fresh leg up. Otherwise, a pullback to $98,200 or even $89,900 is possible if selling pressure kicks in.
Final Thoughts
The latest Bitcoin surge is driven by a powerful mix of institutional investments and renewed retail interest. Twenty One Capital’s bold move highlights growing confidence in BTC’s long-term value, especially in a shifting macro environment.
