Bitcoin is correcting after reaching a peak of $116,309, now trading below $114,000 and the 100-hourly SMA. A drop below $112,000 could lead to further losses toward $110,000.

Bitcoin is attempting to secure a positive monthly close despite a 13% mid-month drop. Technical indicators and recent institutional inflows into spot Bitcoin ETFs point to short-term bullish momentum.

Bitcoin rose to a two-week high of $116,400 before retreating to $114,472. Data from CryptoQuant and CoinGlass shows declining whale participation and growing retail-driven selling in both futures and spot markets. With Futures Netflow at -$334.6 million and Taker CVD remaining red, analysts suggest BTC may stay range-bound between $111,000 and $115,000.

Metaplanet's stock rose over 10%, adding to a weekly gain exceeding 25%. The move followed the company's announcement of a new capital allocation policy, a $500 million credit facility, and plans to repurchase 150 million shares by October 29, 2026.

Strategy, led by Michael Saylor, acquired 390 BTC worth $43 million at an average price of $114,562 per coin. The company's total Bitcoin holdings now stand at 640,808 BTC, valued at $47.44 billion. This follows S&P Global assigning Strategy a B- 'junk' rating due to its heavy Bitcoin exposure. Despite the downgrade, Saylor reaffirmed the firm's long-term accumulation strategy.

Bitcoin developers are debating BIP-444, a proposed soft fork aimed at restricting non-financial data in blocks to curb spam and potential illegal content. F2Pool founder Chun Wang opposes the plan, calling it a 'bad idea' and stating he will not support any soft fork, temporary or otherwise.

Bitcoin is trading above $113,500 after reclaiming the $114,000 level and the 100-hourly SMA. A breakout beyond $115,750 could open the path for further gains toward $117,500.

S&P Global Ratings has assigned Strategy Inc., formerly MicroStrategy, a B- issuer credit rating due to its heavy Bitcoin holdings and limited business diversification. The firm maintains a stable outlook, supported by strong capital market access despite negative cash flow and currency mismatch risks.