Bitcoin is at $111,100 as August ends, with markets balancing institutional buying and short-term selling. Strategy, co-founded by Michael Saylor, is still buying Bitcoin despite the volatility. Saylor bought again this week, this could be the 3rd time in August.
The company most recently added 430 BTC on August 18 for $51.4 million, bringing its total stash to 629,376 BTC, worth more than $72 billion at current prices. According to SaylorTracker, Strategy’s Bitcoin position is up 56%, representing $25.8 billion in unrealized gains.
Interestingly, August has seen relatively smaller buys compared to the firm’s historic acquisitions of thousands of BTC at once. In total, Strategy has added just 585 BTC this month through two separate deals, underscoring a measured pace of accumulation.
Institutional Strategy and Market Impact
Strategy’s aggressive buying has made them the largest corporate holder of Bitcoin, but they say their buying doesn’t move the market. Corporate treasurer Shirish Jajodia recently said that BTC purchases are done through over-the-counter (OTC) deal,s which minimizes the price impact.
“Bitcoin’s daily trading volume is $50 billion,” Jajodia said. “Even if you buy $1 billion over a few days, it doesn’t move the market much.”
Institutional buying plays a different role in Bitcoin’s cycle. These holdings reduce long-term supply and indirectly strengthen the floor price. But short-term price moves are driven by traders, speculation, and broader macroeconomic forces.
BTC treasury size: 629,376 coins held Unrealized gains: $25.8 billion at current prices August purchases: 585 BTC so far Share price: $358 after dipping to $325 earlier this weekDespite buying Bitcoin, Strategy’s stock has been volatile. Shares hit a 4-month low of $325 before bouncing back to $358, reflecting the broader weakness in Bitcoin treasury stocks.
Technical Outlook: Bitcoin Pressured Below Key Levels
From a technical perspective, Bitcoin is trading inside a descending channel, marked by consistent lower highs and lower lows. The 50-EMA at $114,615 remains below the 100-EMA, signaling bearish momentum. Each rally attempt has been capped by long upper-wick candles, most recently around $116,800.
Bitcoin Price Chart – Source: TradingviewMomentum indicators are mixed. RSI is at 33 and is approaching oversold, which could be a relief. The MACD histogram is negative, and sellers are in control of the short-term trend. Support is at $110,300, $108,600 and $105,150.
A bullish reversal is possible if Bitcoin breaks above $113,500, which could lead to a retest of $116,800 and a broader recovery to $120,900. Chart watchers say a bullish engulfing candle or three white soldiers near support would strengthen the case for a bounce.
For traders, the roadmap is defined: cautious long positions may be considered above $113,500, while shorts could open below $110,300 with tight risk management. In the bigger picture, Bitcoin’s consolidation may be the precursor to a renewed leg higher—potentially toward $130,000—as institutional accumulation and limited supply reinforce the long-term bullish thesis.
Looking Ahead: Can $200K Become Reality?
Saylor is still convinced—Bitcoin is not just an investment but a reserve asset. With institutions buying, treasury inflows increasing, and charts looking like a reversal, many think Bitcoin will hit $200,000 in the next cycle. For now, the short term is still volatile, but the bigger picture is far from over.
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