Metaplanet Inc. (OTCQX:MTPLF) has added over 5,000 Bitcoin (CRYPTO: BTC) to its growing treasury as BTC traded near $116,300 on Tuesday morning, breaking a key resistance trendline at the start of "Uptober."
Bitcoin Breaks Wedge Pattern As $120,000 Target Emerges
BTC Technical Outlook (Source: TradingView)
Technical Analysis: On the 4-hour chart, Bitcoin broke out of a multi-week falling wedge as trading volumes improved, confirmed by a rising On-Balance Volume indicator.
The price is holding above clustered moving averages between $112,600 and $113,300, which now serve as near-term support.
Resistance sits near $118,000, aligned with the neckline of a rounded bottom formation.
A clear move above that level could open the path toward $120,000–122,000, while a drop below $114,000 would expose downside risk toward $110,000–108,000.
Uptober Stats Hint At Another Monster Rally For BTC
BTC Monthly Returns Analysis (Source: Coinglass)
October has historically been a standout month for Bitcoin.
According to Coinglass, BTC has averaged a +20.24% return since 2013, with gains posted in nine of the last 12 Octobers.
Notable rallies include +47.81% in 2017, +39.93% in 2021, and +27.7% in 2020.
This seasonal pattern, dubbed "Uptober," often fuels speculative inflows, with November also delivering strong historical gains, averaging +46%.
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Metaplanet Snaps Up 25,555 BTC In Treasury Power Play
Japanese firm Metaplanet Inc. disclosed a purchase of 5,419 BTC at an average of ¥17.28 million ($115,633) per coin, spending ¥93.65 billion ($637 million).
This brings its total holdings to 25,555 BTC, accumulated at an average cost of ¥15.58 million ($106,000).
The company has aggressively expanded its treasury since March, when it held just 4,000 BTC, and now ranks among the largest corporate holders globally.
Its roadmap includes scaling to 1% of Bitcoin's supply by 2027, backed by more than ¥500 billion ($3 billion) in raised capital.
Metaplanet also introduced perpetual preferred shares to fund purchases without diluting equity, signaling an innovative financing model for corporate adoption.
Outlook For October 2025
With resistance levels cleared and seasonal trends favorable, Bitcoin enters October with momentum tilted to the upside.
The near-term outlook points toward $120,000–125,000, though a pullback below $114,000 would put the rally at risk.
Sentiment is also supported by continued corporate accumulation and remarks from prominent industry figures, including Telegram CEO Pavel Durov, who emphasized Bitcoin's fixed supply and suggested it could underpin valuations approaching $1 million.
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