Strive Inc. (Nasdaq: ASST), a publicly traded asset management bitcoin treasury company, announced on Jan. 13 that Semler Scientific Inc. (Nasdaq: SMLR) shareholders approved an all-stock acquisition, significantly expanding Strive’s bitcoin holdings. The deal includes acquiring Semler’s 5,048.1 bitcoin, resulting in the combined company holding 12,797.9 bitcoin—surpassing Tesla and Trump Media & Technology Group to become the 11th largest corporate bitcoin holder. Prior to closing, Strive purchased 123 bitcoin at an average price of $91,561 (totaling $11.3 million including fees), boosting its standalone holdings to 7,749.8 bitcoin.

The announcement triggered volatile trading: Strive shares closed at $0.97, down 11.82% after ranging from $0.8911 to $1.17 with volume exceeding 360 million shares (versus a 117 million average). Semler fell 9.64% to $20.34, trading between $18.81 and $24.19. Pre-market on Jan. 14 showed modest stabilization, with Semler up 0.20% and Strive down 1.00%, at market caps of $311 million and $867 million, respectively. Strive’s board approved a 1-for-20 reverse stock split to attract institutional investors.

CEO Cole highlighted the deal’s alignment with Strive’s capital strategy, projecting over 15% bitcoin yield by Q1 2026. Post-closing, Strive plans to monetize Semler’s operating business within 12 months and retire legacy obligations, including a $100 million convertible note and $20 million Coinbase loan. Eric Semler will join Strive’s board, with Cantor Fitzgerald and Liontree Advisors as financial advisers.

Bitcoin formed a significant low at $80,537 on November 21, 2025, and has since traded sideways to upward in a double three corrective structure under the Elliott Wave framework. Wave (W) ended at $94,172, followed by wave (X) pulling back to $84,398. Wave (Y) is underway, subdividing into a smaller double three: wave W at $94,792, wave X at $89,190, and wave Y as a zigzag ((a))-((b))-((c)). Within ((a)), wave (i) reached $92,392, wave (ii) retraced to $90,016, and wave (iii) hit $97,939. Wave (iv) is expected to correct from the January 12, 2026 low, before wave (v) completes ((a)).

As long as the $89,222 pivot holds, dips should find support in 3, 7, or 11 swings, favoring upside. On Wednesday, Bitcoin traded above $95,000 amid positive sentiment, lifting altcoins like Ethereum and Ripple, which held Tuesday's gains from lower-than-expected US December core inflation. Ripple dipped to $2.15 after rallying to $2.19. Hyperliquid surged above $26.00 with improving on-chain metrics, while Pi Network held above $0.2000 after a 1% bounce.

By Friday, Bitcoin pulled back toward $90,000 after rejection at resistance, driven by fading institutional demand and net outflows from spot ETFs this week.

TD Cowen trimmed its price target for Michael Saylor’s Strategy (Nasdaq: MSTR) to $440 from $500 while maintaining a buy rating, citing near-term pressure from accelerated Bitcoin purchases amid price compression. Analysts Lance Vitanza and Jonnathan Navarrete, from TD Securities' research division, noted in a Wednesday report that Strategy raised roughly $1.25 billion and used nearly all of it to buy more Bitcoin, leaning into the downturn. They linked this to broader shifts in Bitcoin’s institutional market structure, affirming Strategy remains attractive for Bitcoin exposure despite flirting with a zero Bitcoin premium recently.

On Monday, Strategy announced its largest Bitcoin purchase in over five months, acquiring 13,600 Bitcoin in the past week for over $1.2 billion at current prices. The Tysons Corner, Virginia-based firm now holds 687,400 Bitcoin, valued at over $62.8 billion with Bitcoin at $91,415 per CoinGecko. A week ago, when U.S. markets opened, Bitcoin traded around $93,000, highlighting the recent price dip that Strategy aggressively exploited.

Bitcoin's price surged 1.23% to $96,617.34, achieving a year-to-date gain of over 10%, driven by investor optimism ahead of the Senate's vote on a cryptocurrency bill that could provide a clearer regulatory framework.

The Crypto Fear & Greed Index shifted from 'Neutral' to 'Greed', signaling rising demand for Bitcoin and potential for a breakout above $100,000, according to analysts.

Market volatility intensified, with over $380 million liquidated across cryptocurrencies in the last 24 hours, mainly short positions, while Bitcoin's open interest climbed 2.76%, indicating strong investor engagement.

In contrast, the Dow Jones Industrial Average dropped 42.36 points (0.09%) amid geopolitical tensions and caution toward risk assets. On Coinbase, Barclays cut its price target to $258 from $291, maintaining Equal Weight ahead of the Q4 report, citing softer trading volumes, mixed crypto prices, and slowing USDC growth. Bank of America upgraded Coinbase to Buy from Neutral with a $340 target, noting the stock's 40% decline from July highs but highlighting increased product velocity and expansion into stock/ETF trading and prediction markets to become the "everything exchange." Compass Point's Ed Engel initiated Coincheck coverage with a Buy rating and $5 target.