Bitcoin (BTC) traded at $115,569 on Friday, with a market cap of $2.3 trillion and a circulating supply just shy of 20 million coins. Gains of nearly 1% in the past 24 hours come as fresh corporate adoption makes headlines. Shares of Nasdaq-listed fashion retailer Mogu jumped as much as 76% after it disclosed a $20 million allocation into Bitcoin, Ethereum, and Solana.
The company which sells clothing and accessories online said the move was to diversify its treasury and expand for next gen AI services. Its stock has been struggling since peaking at $37 in 2021 and went up to $7 before dropping to $4.40.
Mogu joins the growing list of companies that are adopting Bitcoin as a reserve asset, following the footsteps of MicroStrategy which now holds 638,460 BTC worth over $73 billion. The trend shows corporate demand for digital assets as a hedge and a way to get attention in the market.
BTC/USD Technical Setup Shows Strength
On the charts, Bitcoin is consolidating within an ascending triangle, a pattern characterized by higher lows that press against resistance near $116,342. The 50-EMA ($113,370) is pushing higher toward price, while the 200-EMA ($112,937) continues to hold as a longer-term floor.
Momentum remains constructive. The RSI at 64 signals buying strength without entering overbought territory. Small-bodied candles followed by bullish engulfing bars suggest steady accumulation. If BTC clears $116,342, upside targets extend to $117,456 and $118,617, levels where prior highs align.
Failure to stay above the pivot point at $114,819 could invite a pullback toward $113,383, but the higher lows pattern reinforces the broader bullish bias.
Bitcoin (BTC/USD) Outlook and Trade Opportunity
For traders, a long entry above $116,350 with a stop at $113,000 is a good risk reward. Near term targets are at $118,600 and a sustained break above that could take us to $130,000.
For investors, this consolidation may represent a final base before Bitcoin attempts a broader advance, supported by growing institutional interest and fresh corporate treasury inflows.
- Resistance Levels: $116,342, $117,456, $118,617
- Support Levels: $114,819, $113,383, $112,000
- Momentum Gauge: RSI at 64, bullish structure intact
With Nasdaq listed companies and institutional players on board, the narrative of Bitcoin as digital gold is getting stronger. Whether it’s fashion companies diversifying their reserves or Wall Street preparing bigger allocations, the structural momentum suggests Bitcoin’s path to six figures is far from over.
Presale Bitcoin Hyper ($HYPER) Combines BTC Security With Solana Speed
Bitcoin Hyper ($HYPER) is positioning itself as the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM). Its goal is to expand the BTC ecosystem by enabling lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation.
By combining BTC’s unmatched security with Solana’s high-performance framework, the project opens the door to entirely new use cases, including seamless BTC bridging and scalable dApp development.
The team has put strong emphasis on trust and scalability, with the project audited by Consult to give investors confidence in its foundations.
Momentum is building quickly. The presale has already crossed $15.3 million, leaving only a limited allocation still available. At today’s stage, HYPER tokens are priced at just $0.012905—but that figure will increase as the presale progresses.
You can buy HYPER tokens on the official Bitcoin Hyper website using crypto or a bank card.
Click Here to Participate in the Presale
The post Bitcoin Price Prediction: Nasdaq-Listed Chinese Fashion Giant Buys BTC – Wall Street About to Deploy Billions into Crypto appeared first on Cryptonews.
