Hey, you! Did you see that? $4 billion in Bitcoin, FOUR BILLION, are going to start trading on Wall Street next week! 🤯 This is not a drill, it's a company with a giant treasury in BTC that is putting on its big pants and going public with the symbol XXI.
The move is with Twenty One Capital, which already has the approval of its partners to merge with Cantor Equity Partners (CEP). The key date you need to mark on your calendar is December 9 (the transaction closing is expected to be on the 8th). The CEO, Jack Mallers, already posted on X: "Let the game begin! See you at the New York Stock Exchange on Tuesday" 🚀.
And why should we care? Because Twenty One Capital is not playing house. At the time of going public, they will have about 43,500 BTC in their treasury. That's a monster! To give you an idea, with that amount they position themselves as the third largest corporate holder of Bitcoin 🥉, only behind giants like Strategy and the miner MARA.
This firm is a "superhero board" of finance and crypto, created by heavyweights like Tether (yes, the one from the USDT stablecoin), Bitfinex, Cantor Fitzgerald, and SoftBank. The name, "Twenty One" (Veintiuno), is a nod to the maximum limit of 21 million Bitcoins that can exist. In other words, they know very well where they stand.
And what does this mean for the price of BTC? 📉
This is where it gets spicy. While the news that such a large company with so much BTC enters Wall Street is bullish in the long term (more credibility, more adoption), in the short term, the market is with the handbrake on 🛑.
The price of Bitcoin has not been able to break the ceiling of $94,000 in the last month. Analysts see a sequence of lower highs, which is a sign that sellers (the 'bears' 🐻) are dominating the field.
Right now, if BTC does not strongly recover those $94,000, the market structure points to a possible drop. The next strong support (where the price can bounce) is near $87,000. But beware, the true target for the drop is between $82,000 and $81,400. The current trend tells us that there is a greater chance of seeing those $81,000 before we see a serious rebound.
The real impact: We have two forces colliding: the fundamental news from Twenty One Capital (bullish) against the current technical weakness of the price (bearish). The entry of a player with $4 billion in BTC to Wall Street is a giant step to legitimize Bitcoin, but that does not eliminate the resistance of $94,000. The question is: Will this institutional wave give BTC the momentum it needs to break that ceiling once and for all, or will the technical market impose its correction to $81,000 first? We must pay close attention to that quote on December 9! 🧐$BTC
