MicroStrategy Buys 1,550 Bitcoin for $101M as Price Falls Below $60,000
MSTR•MicroStrategy bought 1,550 Bitcoin for $101 million after crypto markets drove Bitcoin below $60,000, its lowest since October 2024 and down 16% in one week. US-listed spot Bitcoin ETFs recorded $5.5 billion of net outflows over 13 days as technical indicators weakened below the 200-week moving average.
1. Bitcoin Plunges to Lowest Since October 2024
Bitcoin slid below $60,000, marking a 16% drop over the past week and reaching its weakest level since October 2024. This steep decline represents the token’s worst weekly performance since the 2022 FTX collapse.
2. Technical Weakness and ETF Outflows
The token fell beneath its 200-week moving average, a key gauge for market support, while US-listed spot Bitcoin ETFs suffered $5.5 billion of net outflows over 13 consecutive days, signaling investor caution.
3. MicroStrategy Increases Bitcoin Holdings
Following a small $2.5 million sale, MicroStrategy purchased 1,550 Bitcoin for $101 million to reinforce its position, contrasting with broader market hesitancy and underscoring its long-term bullish stance.
