Bitcoin Price Holds Above $105K As Corporate Buys Signal Strong Demand, California Bill Passes

Bitcoin BTC/USD held steady above $105,000, following a 1.2% 24-hour gain. The price rebounded from a dip below $104,000, signaling active buying interest ahead of key resistance near $108,000. The surge follows news of major corporate purchases across the U.S. and Europe, and rising open interest, which helped offset recent volatility.

Reitar Logtech Holdings Ltd. RITR disclosed plans to acquire up to $1.5 billion in Bitcoin, calling the move a strategic treasury diversification. CEO John Chan said the allocation supports financial stability as the firm scales its logistics technology operations globally.

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Elsewhere, Japan’s Metaplanet Inc. MTPLF saw a record daily trading volume of $1.51 billion on the Tokyo Stock Exchange after acquiring 1,088 BTC for $117.9 million. The company holds 8,888 BTC, drawing investor interest amid concerns over Japan’s bond market.

Bitfinex transferred 7,000 BTC, worth $730 million, to Twenty One Capital, a new institutional fund aiming to accumulate over 42,000 BTC. The move, confirmed by Bitfinex CEO Paolo Ardoino, highlights growing institutional infrastructure. Tether USDT/USD and Cantor Fitzgerald Ic ZCFIIX are backing the fund.

Vanadi Coffee VANA joined the list of corporates adopting Bitcoin, announcing plans to integrate the asset into its reserves through a mix of convertible bonds and equity issuance. Chairman Salvador Martí said the strategy mirrors MicroStrategy Incorporated MSTR and may influence similar moves across industries.

California Assembly Bill 1180 passed the Assembly 68-0, allowing state departments to accept Bitcoin under the Digital Financial Assets Law. If signed by Governor Gavin Newsom, the law would take effect July 1, 2026, with pilot programs until January 1, 2031, according to the California State Assembly release.

Support near $96,700 remains key. According to CryptoQuant, the area marks the average entry for short-term holders over the last 155 days, and staying above it reduces the likelihood of panic-driven selling.

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Glassnode reported that long-term holders reduced their supply share from 15.7% in November 2024 to 11.9% in June 2025, potentially creating a supply overhang.

Per Deribit, futures open interest rose 4% week-over-week. Traders appear increasingly bullish, positioning for a breakout above $108,000. While this may amplify gains, it also raises the risk of liquidations on sharp reversals.

Analytics firm Santiment flagged several transactions exceeding 1,000 BTC in a 48-hour window, suggesting accumulation by high-net-worth individuals and entities. The flows remain a key driver of Bitcoin’s price structure.

CoinShares data shows that BlackRock’s iShares Bitcoin Trust IBIT holds $40 billion in assets. Sustained inflows from funds like IBIT help stabilize prices as long-term holders reduce exposure.

Rising U.S. Treasury yields have weighed on risk assets, but Bitcoin’s capped supply and rising corporate adoption position it as a hedge against inflation and fiat currency erosion. Bloomberg noted renewed investor interest amid geopolitical uncertainty in Europe and Asia.

Bulls are watching for a confirmed breakout above the $108,000–$110,000 zone. A close above this level could open the path toward $120,000. On the downside, losing $96,700 support may trigger a move toward $90,000, analysts told TradingView.

Sentiment remains cautiously optimistic. The Crypto Fear & Greed Index sits in neutral territory. Analysts believe improving risk appetite, upcoming ETF decisions, and pre-halving speculation may fuel renewed retail interest in the coming weeks.

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