Top Bitcoin treasury stocks are on the verge of a strong bullish breakout as the coin rebounds. Strategy (MSTR) jumped to $160.50, up by over 102% from its lowest level this year. This rally has brought its market capitalization to over $61 billion.
Strive stock has also rebounded to $31, up by over 340% from its all-time low. Its market capitalization has jumped to over $2.8 billion.
Bitcoin price is on the verge of soaring
BTC price may be on the cusp of a strong bullish breakout, potentially to the crucial resistance level of $100,000.
The coin has some potential catalysts, including rising ETF inflows. These funds added over $102 million this month, with BlackRock’s IBIT adding over $195 million. Grayscale’s BTC added over $14 million, while Morgan Stanley’s MSBT added over $7 million.
These inflows were offset by significant outflows from Fidelity, Grayscale, Bitwise, and VanEck. The funds had over $2.6 billion in inflows last month after adding over $3.52 billion. They have now had net inflows of $1.5 billion this year, with their cumulative inflows jumping to $57.6 billion. These funds now hold over $109 billion.
Soaring ETF inflows is a bullish catalyst for Bitcoin because it means that retail and institutional investors are in an accumulation mode.
Bitcoin price is also rising as investors watch the developments in the bond and energy market. Brent and the West Texas Intermediate (WTI) retreated to $101.4 and $91.85, respectively. US bond yields have also moved sideways today.
A strong Bitcoin rally to $100,000 would boost the value of Strategy’s and Strive’s assets. Strategy now has 847,666 coins, while Strive has 27,462. A surge to $100k would be valued at over $84.7 billion and $2.7 billion.
Bitcoin price has strong technicals
BTC price chart | Source: TradingView
The daily chart shows that Bitcoin has some highly bullish technicals. It has jumped above the crucial resistance level of $82,070, its highest level on 3rd September this year.
It has moved above the upper side of the bullish flag pattern. At the same time, the coin has formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. The coin is also attempting to move above the crucial resistance level of $87,270, its highest level in September. A surge to that level will point to more gains, potentially to $100,000.
Strategy stock technical analysis
MSTR stock chart | Source: TradingView
MSTR stock has soared from the year-to-date low of $82.16 to the current level of $160.50. It has moved slightly above the crucial resistance level of $144.30, its highest point on September 3.
The stock has moved slightly above the 200-day moving average and is slowly forming a bullish flag pattern. It has jumped above the Supertrend indicator. Therefore, the stock will likely continue rising as bulls target the key resistance level of $196, its highest point on May 11.
Strive stock forecast
ASST stock chart | Source: TradingView
Strive, which is associated with Vivek Ramaswamy, has made a strong comeback this year, moving from a low of $7.15 in February to the current $30. Notably, it has already formed a golden cross pattern, while the MACD indicator has continued rising.
Therefore, with Bitcoin rising, there is a likelihood that the stock will continue rising, potentially to the key psychological level of $50.
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