American Bitcoin, backed by the Trump family, acquires 1,414 BTC, bringing their total to 3,865 BTC. They are now one of the world’s largest corporate holders of Bitcoin. ABTC shares surged 11.5% to $5.62 after the announcement. They also introduced a new metric, Satoshis Per Share (SPS).

BlackRock transferred $118 million worth of Bitcoin to Coinbase Prime. Market analysts believe it could be for routine liquidity adjustments or ETF-related rebalancing, but some speculate a major sell-off. Bitcoin is trading around $115,000, up 1.4% in the past 24 hours, with doubled daily trading volume on October 27.

Bitcoin’s price surpassed the $112,000-$113,000 resistance zone, indicating renewed market confidence. Nearly 7 million BTC have returned to profit, with 5.1 million held by investors within six months. Short-term holders regaining profitability may lead to increased positions and rising bullish conviction. Analysts warn of potential profit-taking pressure soon.

Read more at Yahoo Finance: American Bitcoin Adds 1,414 BTC as BlackRock Moves $118M BTC to Coinbase Prime