American Bitcoin Corp. (NASDAQ:ABTC) climbed more than 11% on Friday to close near $5.62, and extended gains pre-market Monday, up 5% to $5.88, as investors responded to fresh treasury disclosures showing the company's Bitcoin (CRYPTO: BTC) holdings rising to 3,865 BTC.
Eric Trump Expands Bitcoin Treasury
The Miami-based Bitcoin accumulation firm said it added 1,414 BTC to its balance sheet, bringing total reserves to 3,865 BTC as of Oct. 24.
The update follows new disclosures about the company's Satoshis Per Share (SPS) metric, designed to provide transparency into how much Bitcoin backs each share of common stock.
"We believe one of the most important measures of success for a Bitcoin accumulation platform is how much Bitcoin backs each share," said Eric Trump, co-founder and Chief Strategy Officer of American Bitcoin.
Trump said the company's integrated mining operations give it an advantage over traditional Bitcoin treasuries that rely solely on market purchases.
"By producing Bitcoin directly, we can reduce our average cost per Bitcoin and compound value per share more efficiently," he added.
Technical Chart Structure Shows $6 Retest Zone
American Bitcoin Price Action (Source: TradingView)
On the daily chart, American Bitcoin has rebounded sharply from $4.20, a historical support zone that aligns with the lower Bollinger Band and summer lows.
The bounce signals potential exhaustion of selling pressure, but the recovery remains technically fragile.
The stock trades beneath its 20-day ($5.81), 50-day ($6.25), and 100-day ($5.88) exponential moving averages, which have compressed into a resistance band.
Traders view $6.00 as the pivotal breakout level that could shift momentum upward.
Below that threshold, the pattern still favors consolidation, with the next support seen near $4.20.
A close under this level could re-expose the stock to deeper losses toward $3.80.
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