Bitcoin Nears $110,000 Milestone as Institutional Demand Fuels Rally
Bitcoin has surged to a historic daily close of $106,830, marking a 40% rally since early April 2025. The cryptocurrency is currently trading near $105,300, with traders setting their sights on a potential breakout above the $110,000 threshold. This upward momentum is largely driven by sustained institutional demand, as spot Bitcoin ETFs continue to attract significant capital inflows. Unlike previous bull runs, the current market phase appears more mature, evidenced by moderate funding rates. Technical indicators suggest strong bullish sentiment, positioning Bitcoin for further gains in the coming weeks.
Bitcoin Tests Record Highs as Bulls Target $110,000 Threshold
Bitcoin surged to a historic daily close of $106,830, marking a 40% rally since early April. The cryptocurrency now hovers NEAR $105,300, with traders eyeing a potential breakout above $110,000.
Institutional demand appears to be fueling the uptrend, as spot Bitcoin ETFs continue attracting capital inflows. Unlike previous bull runs, moderate funding rates suggest a more mature market phase.
Technical indicators present mixed signals. While price action remains strong, bearish divergences warrant caution. The $109,000 level now serves as critical resistance before the psychologically important $110,000 benchmark.
Strive Asset Management Plans 75,000 Bitcoin Treasury via Mt. Gox Claims Acquisition
Strive Asset Management, co-founded by Vivek Ramaswamy, is making a bold move into cryptocurrency by assembling a 75,000 bitcoin treasury. The firm plans to acquire discounted claims from the defunct Mt. Gox exchange, leveraging the impending October 31 creditor repayment deadline.
The strategy involves a reverse merger with Asset Entities (ASST), whose stock has skyrocketed 1,170% since the announcement. Partnering with 117 Castell Advisory Group, Strive is targeting Bitcoin claims awaiting distribution from one of crypto's most infamous bankruptcy cases.
Market reaction has been explosive, with Asset Entities' valuation ballooning to $122.1 million as investors bet on the firm's transformation into a Bitcoin-focused investment vehicle. The MOVE signals growing institutional interest in creative cryptocurrency acquisition strategies.
'Days to Cover mNAV': The New Standard for Evaluating Bitcoin Equities
As Bitcoin solidifies its position as an institutional asset, public companies are increasingly incorporating BTC into their treasuries. This trend has reignited investor interest in Leveraged Bitcoin equities (LBEs), but soaring valuations raise a critical question: which firms genuinely justify their premiums through consistent BTC accumulation, and which rely merely on reputation?
A new metric, 'Days to Cover mNAV,' is gaining traction as a precise analytical tool. It calculates the time required for a company, at its current Bitcoin accumulation rate, to amass enough BTC to validate its market capitalization. The formula—Days to Cover = ln(mNAV) / ln(1 + BTC Yield)—incorporates compounding effects, offering a clearer lens for evaluation.
Bitcoin's Rally Above $100K Shows Stronger Fundamentals Than January's Run
Bitcoin's resurgence above $100,000 marks a pivotal moment for the cryptocurrency market. Unlike the fleeting rally in December-January, this upward movement appears more sustainable, supported by robust financial conditions and institutional confidence.
The interplay of macroeconomic factors—including U.S. Treasury yields and dollar strength—suggests a firmer foundation for Bitcoin's current trajectory. Market dynamics now reflect deeper liquidity and reduced speculative froth, signaling potential for further gains.
Strive Enterprises Targets $7.9B in Distressed Mt. Gox Bitcoin Claims for Discounted BTC Accumulation
Strive Enterprises, an Ohio-based financial services firm, is making a strategic move to acquire distressed Bitcoin claims at a discount. The company has partnered with 117 Castell Advisory Group to target claims tied to the 2014 Mt. Gox bankruptcy, which involves approximately 75,000 BTC—now valued at around $8 billion.
The Mt. Gox payouts, though slow, represent one of the largest pools of locked-up Bitcoin in history. Strive aims to gain BTC exposure below market rates, betting on outperforming Bitcoin's long-term price trajectory. The firm filed its intentions with the SEC on Monday, signaling a calculated institutional play on discounted crypto assets.
New ‘Days to Cover’ Metric Reveals Which Bitcoin Companies Are Truly Stacking
A novel metric called 'Days to Cover' is gaining traction among analysts, providing a fresh lens to evaluate companies with significant Bitcoin holdings. The formula, introduced by an undisclosed source, calculates how long it WOULD take for a firm to earn its market valuation in Bitcoin terms based on its current accumulation rate.
The metric hinges on mNAV (Market Net Asset Value), which compares a company's market cap to the value of its BTC reserves. For instance, an mNAV of 4.26 implies the market values the enterprise at 4.26 times its Bitcoin treasury. This tool is emerging as a critical benchmark as institutional crypto adoption matures.
