Bitcoin is holding steady around $108,716, according to CoinDesk Data, but behind the flat price action are signs of a potential breakout as both retail and institutions ramp up accumulation.
On Aug. 29, André Dragosch, European head of research at Bitwise, noted that corporate adoption of bitcoin has accelerated at a historic pace. He said that July and August alone saw the creation of 28 new bitcoin treasury companies and an increase of more than 140,000 BTC in aggregate corporate holdings.
That figure is nearly equivalent to the total amount of new bitcoin mined in a year (which is around 164,000 BTC), underscoring how demand from treasuries is soaking up supply faster than it is produced.
The accompanying Bitwise chart showed a steep upward curve, highlighting how companies are increasingly treating bitcoin as a reserve asset in the mold of Michael Saylors’ Strategy (MSTR).
Moments later, Dragosch addressed a popular narrative among analysts that bitcoin could “top out” in 2025 because of post-halving cycle patterns seen in earlier years. He argued that such thinking overlooks the scale of institutional demand today.
Institutional demand outpacing supply more than 6x in 2025, Bitwise data shows (Bitwise/X)His chart showed that as of Aug. 29, 2025, institutional demand has absorbed over 690,000 BTC, compared with a new supply of just over 109,000 BTC, making demand roughly 6.3 times larger than supply.
While Dragosch described it as nearly seven times, the precise ratio still illustrates an extraordinary imbalance that challenges historical cycle comparisons. For investors, the implication is that halving-driven supply dynamics may matter less in the current era of institutional adoption.
Two days earlier, on Aug. 27, Dragosch pointed to retail buying as another driver. He said the rate of accumulation across all bitcoin wallet cohorts — from small holders to whales — had reached its highest level since April. In his words, investors appear to be “stacking relentlessly.”
The Bitwise chart attached showed sharp upward moves across wallet groups, suggesting that retail demand is lining up with institutional flows. Historically, synchronized accumulation across cohorts has often preceded major upside moves, making the current environment notable for bulls.
Bitcoin wallet cohorts show strongest accumulation since April 2025 (Bitwise/X)Despite the accumulation of data, bitcoin is little changed at $108,716 in the past 24 hours, according to CoinDesk Data, as markets await clearer catalysts.
Price Analysis Highlights
(All times are UTC)
- According to CoinDesk Research’s technical analysis data model, between Aug. 30 at 15:00 and Aug. 31 at 14:00, BTC traded within a $2,150 range, fluctuating between $107,490 and $109,640.
- Heavy buying support emerged near $107,800, where volumes exceeded daily averages, establishing a key short-term floor.
- Resistance formed around $109,600, where repeated rejections indicated profit-taking pressure.
- In the final 60 minutes of the analysis period, BTC swung from $109,250 to $108,700 before closing near $108,900, showing continued volatility but 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.
Source: https://www.coindesk.com/markets/2025/08/31/analyst-sees-major-bitcoin-breakout-as-retail-and-institutions-stack-relentlessly
