Bitcoin remains stable at approximately $108,716, based on CoinDesk Data, yet the lack of price movement hints at a possible breakout as both retail and institutional investors increase their accumulation.
On August 29, André Dragosch, the European head of research at Bitwise, observed that the corporate adoption of bitcoin has accelerated significantly. He mentioned that in just July and August, 28 new bitcoin treasury companies were established, contributing to an aggregate rise of over 140,000 BTC in corporate holdings.
This amount is nearly on par with the total new bitcoin mined in a year (around 164,000 BTC), highlighting how treasury demand is absorbing supply at a faster rate than it is produced.
The accompanying Bitwise chart illustrated a steep upward trajectory, demonstrating how companies are increasingly viewing bitcoin as a reserve asset, in line with Michael Saylor’s strategy (MSTR).
Shortly thereafter, Dragosch addressed a prevailing narrative among analysts suggesting that bitcoin might “top out” in 2025 due to post-halving cycle patterns from previous years. He argued that this perspective fails to consider the magnitude of institutional demand present today.
His chart indicated that as of August 29, 2025, institutional demand absorbed over 690,000 BTC, while new supply was just over 109,000 BTC, resulting in demand being approximately 6.3 times greater than supply.
Though Dragosch referred to it as nearly seven times, the exact ratio illustrates a remarkable imbalance that challenges historical cycle comparisons. For investors, this suggests that halving-driven supply dynamics may be less relevant in the current age of institutional adoption.
Two days earlier, on August 27, Dragosch pointed to retail buying as an additional factor. He stated that the rate of accumulation across all bitcoin wallet categories — from small holders to whales — reached its highest level since April. He noted that investors seem to be “stacking relentlessly.”
The Bitwise chart accompanying this pointed to significant upward moves across wallet groups, implying that retail demand is aligning with institutional flows. Historically, synchronized accumulation among various cohorts has often preceded major upward movements, making the current scenario noteworthy for bullish investors.
Despite the bolstered accumulation data, bitcoin’s price remains largely unchanged at $108,716 in the last 24 hours, according to CoinDesk Data, as markets await clearer catalysts.
Price Analysis Highlights
(All times are UTC)
- As per CoinDesk Research’s technical analysis data model, between August 30 at 15:00 and August 31 at 14:00, BTC traded within a $2,150 range, oscillating between $107,490 and $109,640.
- Strong buying support emerged around $107,800, where trading volumes exceeded daily averages, establishing a key short-term floor.
- Resistance developed near $109,600, where repeated rejections suggested profit-taking pressure.
- During the final hour of the analysis window, BTC fluctuated from $109,250 to $108,700 before closing near $108,900, demonstrating ongoing volatility while maintaining stable support levels.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
