Bitcoin experienced a sharp decline of over 2% on Monday, briefly dipping toward $114,000 before institutions stepped in with aggressive buying. Led by corporate treasury firms such as Strategy and Metaplanet, this wave of dip buying underscores the deepening conviction among long-term holders.
Corporate Treasuries Lead the Dip Buying
Michael Saylor, Chairman of Strategy, announced the purchase of 430 Bitcoin for approximately $51 million. Meanwhile, Metaplanet President Simon Gerovich revealed that his company acquired 775 Bitcoin for roughly $93 million. Together, the two firms bought 1,205 Bitcoin in a single day, representing around $144 million of buying pressure.
Gerovich shared his confidence on X: “I hear the disappointment in the recent pullback. It’s natural to feel that way. But what gives us conviction is the foundation we are building. Let’s review the milestones we’ve reached together, because over time fundamentals prevail.”
Inflation Data Sparks Volatility
Last week, Bitcoin surged to near its all-time high after consumer inflation data came in lower than expected. However, momentum quickly reversed when the wholesale price report (PPI) showed a record jump, dashing hopes for a sustained rally. This rollercoaster of inflation readings triggered a sell-off among short-term traders, but institutional players recognized it as a buying opportunity.
The Norwegian Government Pension Fund Global (GPFG), worth nearly $2 trillion, also quietly increased its Bitcoin exposure. According to regulatory filings as of June 2025, the fund boosted its indirect Bitcoin holdings by roughly 83%, primarily through acquiring MSTR shares. This move signals that even the world's most conservative capital allocators are embracing the digital asset.
Market Metrics and Technical View
At the time of reporting, Bitcoin was trading at $116,028.63, down 1.69% over 24 hours and 3.26% over the past seven days. The intraday range was $114,723.68 to $118,073.96. Trading volume surged 62.22% to $69.23 billion, indicating heightened market activity. Market capitalization fell 1.64% to $2.31 trillion, while Bitcoin dominance rose 0.70% to 59.82%, outperforming the broader crypto market, which declined 2.61%.
Futures open interest remained nearly flat at $82.94 billion, with a slight 0.13% increase. Liquidations totaled $130.43 million, with long positions accounting for $123.01 million of the total, versus just $7.42 million in short liquidations. This lopsided liquidation data confirms that the decline primarily flushed out overleveraged bulls, while bears have yet to build significant momentum.
In summary, institutional dip buying during Bitcoin's pullback reinforces the narrative of growing mainstream acceptance. With corporate treasuries and sovereign pension funds accumulating, each price dip may represent a discounted entry point for long-term believers.