Key Notes

Key Notes:

Analyst Peter Brandt identifies a potential reversal pattern with Bitcoin forming a double top and bearish RSI divergence on daily charts.Strategy plans to strengthen its 478,740 BTC holdings through a $2 billion private offering of convertible senior notes with 0% interest.Semler Scientific reported 107% BTC yield for 2024, increasing holdings to 3,192 BTC and seeing 200% market cap growth since adopting its Bitcoin strategy.

Bitcoin BTC $96 656 24h volatility: 1.3% Market cap: $1.92 T Vol. 24h: $17.95 B price continued to signal bearish sentiment after teasing below $94k in the past 24 hours. The flagship coin recorded heightened volatility, leading to liquidations of over $343 million in the crypto industry, mostly involving long traders. The total crypto market cap dropped over 3 percent to hover about $3.25 trillion on Wednesday, during the early Hong Kong trading session.

According to popular market analyst Peter Brandt, Bitcoin price has been consolidating in a macro bearish sentiment after experiencing a major resistance level of around $109k. Brandt noted that the BTC price could be forming a reversal pattern, characterized by a double top coupled with a bearish divergence of the daily Relative Strength Index (RSI).

With BTC price aiming to retest the support level around $92k, Brandt noted that a major selloff towards $75k would occur if the support level is consistently breached.

Double double toil and trouble 👿 in $btc pic.twitter.com/UJrNEfM26R

— Peter Brandt (@PeterLBrandt) February 18, 2025

Earlier on Tuesday, Strategy (NASDAQ: MSTR) announced that it did not purchase any Bitcoin last week, thus currently holding about 478,740 BTCs. However, the company has announced plans to strengthen its Bitcoin holdings through a private offering of $2 billion of convertible senior notes.

The $2 billion 0 percent convertible senior notes due 2030 will help the company acquire more Bitcoins amid the ongoing market correction.

“Strategy intends to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital,” the company noted.

Seller Scientific Inc. (NASDAQ: SMLR), an established company in healthcare services with a keen focus on Bitcoin, announced the release of its Q4 2024 financial results and for the full year. Having closed 2024 with 2,298 BTC, Semler Scientific has purchased an additional 894 Bitcoins through February, thus currently holding about 3,192 BTCs.

As a result, for the financial year that ended on December 31, Semler Scientific reported a BTC Yield of about 107 percent.

“Since launching this strategy in May 2024, our market capitalization has increased more than 200 percent. We have unwavering confidence in Bitcoin’s long-term potential and view it as digital gold. With this conviction, we remain committed to significantly expanding our bitcoin holdings,” Eric Semler, chairman of Semler Scientific, noted.

The demand for Bitcoin among institutional investors has continued to grow exponentially in the recent past. The ongoing implementation of a clear crypto regulatory framework has increased the overall confidence in Bitcoin as a store of value in the long haul.

As a result, Bitcoin price will follow gold’s bullish breakout in the near future, which will also impact the entire altcoin industry.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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