Bitcoin Price Forecast: BTC steadies as traders look at Microsoft vote over investment proposal

📆 10/12/2024 8:27 pm
📰 FXStreetNews

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Bitcoin (BTC) hovers around $97,800 on Tuesday after almost a 4% drop on Monday as traders look at the upcoming Microsoft (MSFT) shareholders' vote on Tuesday to add BTC to the balance sheet, a move that, if approved, could catalyze a further rally.

Bitcoin price today: $97,800 Bitcoin price hovers around $97,800 on Tuesday after declining almost 4% on Monday. BTC's recent drop triggered over $1.69 billion in liquidations, including $180 million in BTC alone. Reports highlight Microsoft shareholders' vote on Tuesday to add BTC to the balance sheet, which, if approved, could be a surprise to the topside.

If this magnitude of inflow persists, demand for Bitcoin will increase, leading to a recovery in its price. Total Bitcoin Spot ETF Net inflow chart. Source: Coinglass Moreover, in the same period, MicroStrategy announced that it had acquired21,550 BTC worth $2.1 billion at an average price of $98,783 per Bitcoin. The company currently holds 423,650 BTC, acquired for $25.6 billion at an average price of $60,324 per Bitcoin. MicroStrategy has acquired 21,550 BTC for ~$2.

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