Bitcoin surged nearly 20% in just two days, pushing Strategy’s massive corporate Bitcoin treasury back into profit as BTC climbed above $77,000.
The rally took Bitcoin to its highest level since late May and lifted the cryptocurrency above Strategy’s average Bitcoin purchase price.
Bitcoin Climbs Above $77,000
Bitcoin reached fresh local highs above $77,400 on Friday, according to TradingView data.
The cryptocurrency has gained roughly 20% over the past 48 hours, with relatively little consolidation during the rapid recovery.
The move also pushed Bitcoin back above several important technical levels that traders have been monitoring.
Strategy’s Bitcoin Treasury Returns to Profit
The rally was especially important for Strategy, the world’s largest corporate holder of Bitcoin.
According to BitcoinTreasuries data, Strategy currently holds approximately 840,447 BTC with an average cost basis of around $75,385 per Bitcoin.
With Bitcoin trading above $77,000, the company’s holdings have moved back above their average acquisition price.
Strategy’s Bitcoin position was showing an estimated year-to-date gain of roughly $450 million following the latest market rally.
Strategy Recently Sold Part of Its Bitcoin Holdings
Earlier in August, Strategy sold a relatively small portion of its Bitcoin treasury.
Between August 3 and August 9, the company sold approximately 1,690 BTC.
The proceeds were used to repurchase around 1.15 million shares of STRC preferred stock for $108.6 million.
The transaction marked Strategy’s fourth Bitcoin sale of 2026.
Those sales had raised questions among some investors about the long-term sustainability of the company’s Bitcoin strategy.
Bitcoin Rally Eases Concerns Around Strategy
Bitcoin’s sharp recovery could help reduce some of those concerns.
Independent crypto analyst William Clemente argued that Strategy’s willingness to sell a limited amount of Bitcoin to support its capital structure demonstrated greater financial flexibility.
He also noted that the recent Bitcoin price increase has strengthened the value of the company’s crypto holdings relative to its financial obligations.
Strategy co-founder and former CEO Michael Saylor remains closely associated with the company’s aggressive Bitcoin accumulation strategy.
Strategy Plans to Resume Bitcoin Purchases
Current Strategy CEO Phong Le indicated in an interview earlier in August that the company expects to resume buying Bitcoin before the end of the year.
That would continue Strategy’s long-running approach of using Bitcoin as a central part of its corporate treasury strategy.
The timing of future purchases could depend on Bitcoin prices, capital market conditions and the company’s broader financing plans.
Major Bitcoin Support Zone Forms Below $68,000
While Bitcoin’s rapid rally has raised questions about whether the move can continue, onchain data suggests that a significant support zone is developing below current prices.
Glassnode data shows that approximately 3.44 million BTC have an onchain cost basis between $58,000 and $67,000.
A large portion of that Bitcoin was accumulated relatively recently.
Around 2.23 million BTC, representing roughly 11% of Bitcoin’s total supply, moved into this cost-basis range over the past 11 weeks.
Why the $58,000-$67,000 Range Matters
Glassnode co-founder Rafael Schultze-Kraft described this area as one of the strongest concentrations of investor cost basis below Bitcoin’s current market price.
A large number of investors purchased Bitcoin within this range. Therefore, the area could potentially act as an important support zone if BTC experiences another pullback.
Cost-basis clusters can be closely watched because investors may defend price areas where substantial amounts of Bitcoin were previously accumulated.
Bitcoin Reclaims the 200-Day Moving Average
Bitcoin also broke through several important technical resistance levels during the latest rally.
One of the most significant was the 200-day simple moving average near $68,967.
The 200-day moving average is widely followed by traders as a gauge of Bitcoin’s longer-term market trend.
Moving back above this level could strengthen the argument that Bitcoin is attempting to reverse the broader downtrend that had previously pressured prices.
Bitcoin Outlook Improves After Sharp Recovery
Bitcoin’s return above $77,000 has improved sentiment across the market while also putting Strategy’s enormous BTC holdings back above their average purchase price.
At the same time, a large concentration of Bitcoin accumulated between $58,000 and $67,000 could provide an important support area during future corrections.
Traders will now be watching whether Bitcoin can hold above its recently reclaimed technical levels and sustain the momentum behind its sharp recovery.
