The Luna Foundation has remained committed to its goal of purchasing $10 billion in Bitcoin and becoming the second-largest Bitcoin holder behind Satoshi Nakamoto.
The Luna Foundation acquired an additional 4,130 Bitcoin, raising the foundation’s total holdings to 39,897.98 BTC, according to @WuBlockchain.
The latter quantity of Bitcoin equates to around $1.7 billion at the digital asset’s current price of $42,700. This implies that the Luna Foundation still has to acquire an extra $8.3 billion in Bitcoin to reach its previously stated goal of owning $10 billion and becoming the second-largest Bitcoin holder behind Satoshi Nakamoto.
The Price of Bitcoin Did Not Increase Following the Purchase of 4,130 BTC
In terms of price activity, the Luna Foundation’s acquisition of 4,130 Bitcoin did not trigger a knee-jerk response in the crypto markets. As of this writing, the King of Cryptocurrencies is stabilizing above the critical $42,00 support level. Additionally, the latter crosses the 50-day (white) and 100-day (yellow) moving averages.
On the daily BTC/USDT chart, the MFI and RSI are both in the neutral areas, at 32 and 47, respectively. However, the daily MACD indicates further selling, which might risk the $42k support zone’s breakdown.
If Bitcoin is unable to maintain this critical level at today’s weekly close, it may open the door to $40k or perhaps $39k. If $42k holds, Bitcoin may try to break through the $48k resistance zone, which aligns with the 200-day moving average’s position (green). Breaking $48k successfully may open the door to $50k or much higher in the days to come.
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