Bitcoin price fell as low as $114,400 on Sunday, Aug 24, lagging behind top altcoins. Can Michael Saylor’s hints on fresh purchases trigger bullish bets for the week ahead?
By Ibrahim Ajibade
Editor Kirsten Thijssen
Updated
3 mins read
After falling behind top altcoins in last week’s late rally following dovish remarks from US Fed Chief Jerome Powell, Bitcoin consolidated in a tight 2% weekend range between $117,300 and $114,400. The lackluster price action reflected both weak corporate demand and persistent ETF outflows, as Bitcoin ETFs shed $1.2 billion over the week without logging a single day of inflows.
However, fresh signals from Michael Saylor, co-founder and executive chairman of MicroStrategy, suggest this lull in institutional appetite may be close to reversing. In a cryptic post on X published around noon Sunday, Saylor wrote “Bitcoin is on Sale,” accompanied by an image showing his firm’s recent BTC acquisitions.
Bitcoin is on Sale pic.twitter.com/azJIYk2xDe
— Michael Saylor (@saylor) August 24, 2025
According to SaylorTracker, MicroStrategy’s Bitcoin holdings have now reached 629,376 BTC, valued at approximately $72.3 billion, with profits climbing to $25.9 billion at press time. The possibility of renewed large-scale purchases from Saylor’s firm provides two potential tailwinds for Bitcoin price action.
First, it could restore confidence among retail traders and strategic investors discouraged by last week’s underperformance. Second, the early hint may encourage short-term traders to enter fresh bets speculating on Strategy’s imminent purchase confirmation. If these scenarios materialize, this could considerably boost market liquidity and trigger a positive BTC price reaction.
Bitcoin price opened the new week on a cautious note, trading near $114,600 at press time. The daily chart shows BTC consolidating just under the middle Bollinger Band around $116,722, while resistance at the upper band near $121,713 continues to cap upside momentum.
Momentum indicators remain mixed. The Relative Strength Index is holding at 46.53, pointing to a neutral stance, neither overbought nor oversold. This leaves room for directional movement depending on whether buyers or sellers gain control in the coming sessions.
Bitcoin price forecast | Source: TradingView
On the bullish side, a sustained close above $117,800, where more than $3 billion in short positions are clustered, would likely validate further upside toward $121,700 and potentially retest $124,000, levels last seen earlier this month. Renewed corporate demand and confirmation of MicroStrategy’s rumored purchases could serve as the catalyst for such a breakout.
Conversely, immediate downside support is seen at $111,700 near the lower Bollinger Band. A decisive drop below this threshold would risk extending losses toward the $108,000 region, where prior consolidation established a temporary floor in late July.
In summary, without a significant increase in corporate demand, Bitcoin price is expected to remain range-bound between $114,000 and $118,000.
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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.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
