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Crypto writer
Arslan Butt
Crypto writer
Arslan Butt
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Bitcoin (BTC/USD) is trading around $102,000, down 2.45% in the last 24 hours, after one of the first corporate treasurers to adopt BTC, Sequans Communications SA (NYSE: SQNS), sold 970 BTC to pay half of its outstanding debt.
The move, part of a budget restructuring, has left traders wondering if the bull market’s momentum is losing steam.
Sequans sells 970 BTC, half of the debt load
France-based IoT semiconductor company Sequans is an early adopter of BTC, he said repaid 50% of its $189 million convertible debt, reducing leverage to $94.5 million. The sale brought his Bitcoin holdings to 2,264 BTC from 3,234 BTC, worth about $240 million at current prices.
The company’s debt-to-NAV ratio fell from 55% to 39%, giving it more flexibility to optimize its treasury strategy.
Despite the sale, CEO Georges Karam reaffirmed Sequans’ long-term commitment to Bitcoin, calling the move “a tactical decision to strengthen financial fundamentals.” The company plans to expand its ADS purchase program, potentially increasing its Bitcoin-per-share metric.
BTC Technical Picture: $100K Support in Focus
Bitcoin price forecast remains bearish as BTC’s latest drop extends a sharp 8% correction from $111,000, carving a descending wedge on the 4-hour chart, a structure that often precedes bullish reversals. The chart shows fading bearish momentum, with each selloff producing higher lows in converging trend lines.
Momentum indicators are also showing mixed signals. The RSI at 31 is flirting with oversold territory, while a subtle bullish divergence suggests that the rally may be underway. Meanwhile, the 50-EMA ($103,500) and 200-EMA ($105,200) limit the upside.
If BTC recognizes $103,600, a short-term rebound could target $106,300, then $111,200, aligning with earlier resistance areas. A failure to hold $100,400, however, could prompt a deeper correction towards $97,600-$95,000, close to the September price base.
What comes next for BTC?
Traders remain divided on whether the Sequans sell-off signals broader institutional caution or a temporary adjustment. From a technical point of view, Bitcoin’s wedge formation suggests that the market may be nearing a local bottom.
A confirmed break above $103,600 could open a recovery path towards $115,000 and potentially $120,000, assuming volume supports the move.
For now, short-term sentiment remains fragile, but long-term belief in Bitcoin’s role as a reserve asset appears intact, particularly as corporate treasurers like Sequans refine their balance sheet strategies ahead of the next market cycle.
Bitcoin Hyper: The Next Evolution of BTC on Solana?
Bitcoin Hyper ($ HYPER) brings a new phase to the Bitcoin ecosystem. While BTC remains the gold standard for security, Bitcoin Hyper adds what was always missing: Solana-level speed.
Built as Bitcoin’s first native Layer 2 powered by the Solana Virtual Machine (SVM), it combines Bitcoin’s stability with Solana’s high-performance framework. The result: lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation, all secured by Bitcoin.
Audited by Consultthe project emphasizes reliability and scalability as adoption develops. And the momentum is already strong. The presale topped $25.9 million, with tokens priced at just $0.013225 before the next increase.
As Bitcoin activity grows and the demand for efficient BTC-based applications increases, Bitcoin Hyper stands out as the bridge that connects two of the largest crypto ecosystems. If Bitcoin built the foundation, Bitcoin Hyper could make it back fast, flexible and fun.
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