Bitcoins
Even as liquidity inflows to centralized exchanges have declined markedly, the most important players in this space continue to double down on their Bitcoin investments.
This past week saw MicroStrategy and Metaplanet, two prominent corporate Bitcoin holders, add to their substantial BTC balances. They purchased a combined 19,452 Bitcoins at an average price of about $29,500. These purchases of Bitcoin, in amounts that are impossible to disguise, not only demonstrate the long-term viability of Bitcoin as a monetary asset but also strongly counteract the narrative that Bitcoin is in a “bear market.”
Bitcoin ($BTC) remains solidly ensconced above $100,000. This seems to be the foundation of a market momentarily dedicating itself to base-building. Quite the contrary to Bitcoin’s $BTC prior pattern of forsaking range-bound sideways trading, the current price action looks concerted to establish a base above the $100,000 price level.
Bitcoins MicroStrategy and Metaplanet Continue Relentless Accumulation
MicroStrategy, which holds the most Bitcoin of any institution, made news once more with its latest acquisition. The Tysons Corner, VA, company, headed by Executive Chairman Michael Saylor, bought another 10,100 BTC, worth about $1.05 billion, at an average price of $104,080 per coin.
MicroStrategy’s Bitcoin total now is a hug 592,100 BTC, and that’s worth $63.2 billion at current prices. The average entry price for MicroStrategy is 70,666, which means it has an unrealized profit of roughly $21.37 billion. This brings us to the purchase made not too long ago, which was not for the sake of trying to impress investors or anything along those lines but rather for the company to keep doing what it has been doing and to keep cementing that path.
MicroStrategy(@Strategy) bought another 10,100 $BTC($1.05B) at an average price of $104,080 last week.#Strategy currently holds 592,100 $BTC($63.2B), with an average buying price of $70,666 and an unrealized profit of $21.37B.https://t.co/k0MMvMpgDQ pic.twitter.com/ic4td6g3Zu
— Lookonchain (@lookonchain) June 16, 2025
At the same time, the Japanese investment firm Metaplanet—like MicroStrategy, a steadfast advocate for Bitcoin—has also grown its BTC stash. The firm recently picked up another 1,112 BTC for $116.5 million—and at an average price of $104,760, that makes it the second most recent buyer of 1000+ BTC at a price above $100,000. Metaplanet’s total holdings now stand at 10,000 BTC, with a valuation around $1.065 billion and an average acquisition price that has fallen to around $96,000.
Purchasing either of these items shows that institutions have a lot of faith in Bitcoin’s long-term worth. And this is happening even though the market seems somewhat lackluster these days.
Metaplanet(@Metaplanet_JP) bought another 1,112 $BTC($116.5M) at $104,760.
Metaplanet currently holds 10,000 $BTC($1.06B), with an average buying price of $96,015.https://t.co/LRlXDOEoNK pic.twitter.com/rFlitaYIrP
— Lookonchain (@lookonchain) June 16, 2025
Bitcoins Exchange Liquidity Declines from December Highs
Although institutional buying stays robust, inflows of exchange-directed liquidity have dropped significantly since their peak in December 2024. At that time, when Bitcoin was trading from $98,000 to $100,000, the average daily inflows of stablecoins (such as USDT and USDC) into centralized exchanges reached an all-time high of $131 billion.
As of June 2025, however, that number has dropped to approximately $70 billion per day—a $61 billion decrease from the peak and $5 billion below the 365-day moving average of $75 billion. Although this marks a clear reduction in market liquidity, current levels still sit well above those seen at the beginning of the bull cycle.
In December 2024, when BTC was trading between $98K and $100K, average daily inflows of USDT and USDC into all centralized exchanges (CEXs) reached a record high of $131B. By June, that figure had dropped to $70B per day – $5B below the 365-day average of $75B and $61B below the… pic.twitter.com/ri8KdCVu38
— Axel ???????? Adler Jr (@AxelAdlerJr) June 16, 2025
This trend indicates that although the speculative fervor may have cooled, this has not led to any substantial outflows or profit-taking that could be described as widespread. It seems, instead, that market participants are more willing than before to just sit tight and hold their positions, even as they begin to exit from trading altogether.
Bitcoins Market Enters Consolidation Phase Ahead of Next Move
Bitcoin is holding above $100,000 and continuing institutional accumulation means the price may be in a healthy resetting state. The intense bullish price action, however, could mean we are entering a bearish consolidation phase with a potential move dipping below $100,000 next.
This phase is sometimes referred to as base-building; it is where long-term holders persist in amassing their assets, and where we see speculative excesses gradually filtered out. If large-scale buyers like MicroStrategy and Metaplanet are still using this prolonged bottoming to increase their exposure, then it suggests they and we are operating under the belief that Bitcoin is markedly undervalued—even at these six-figure levels.
In addition, the price of Bitcoin being so resilient in the face of declining liquidity shows what a strong demand there is for the asset and how deeply held the conviction is that it will continue to appreciate. Most Bitcoin owners aren’t even thinking about sell orders, much less panic sell or asset rotation. What most market participants seem content with is to just wait out the lull.
Bitcoins Conclusion
Although centralized exchange liquidity has clearly taken a hit from its December peak, when it recorded over $12 billion in total order book depth, the Bitcoin price has held up relatively well. Bitcoin price stability paints a long-term bullish picture.
With Bitcoin solidly above $100K, the market seems to have entered a strategic holding pattern—one that could lay the groundwork for a much more powerful uptrend.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Will Izuchukwu Read More