MicroStrategy (MSTR) shares dropped to $97.30, their lowest since March 2024, amid a 5.5% decline as Bitcoin fell to about $60,935, a two-week low. The company sold 2.71 million shares last week, raising $335.5 million mostly for cash reserves rather than Bitcoin purchases, raising concerns about its ability to meet $1.2 billion in annual preferred dividends. Bitcoin's sharp decline and Strategy's shift from buying to selling Bitcoin have raised fears of further price drops. Analyst Peter Schiff warned that heavy short selling could force MSTR to sell Bitcoin to buy back stock, potentially triggering a Bitcoin price crash.
Bitcoin traded near $64,500 as trading volume declined and market sentiment remained cautious despite stable on-chain activity and exchange outflows. The Crypto Fear & Greed Index stayed at 'extreme fear,' indicating low investor confidence. While tr...
Bitcoin's price slightly fell to $64,164, reflecting broader market caution as equity indices and financial indicators like the US 10-year yield and DXY suggest tighter conditions. Meanwhile, Ethereum gained 2.09% to $1,908, showing selective investo...
Bitcoin recently rallied to $65,086, its highest close since late June, driven mainly by softer US inflation data that lowered expectations for Federal Reserve rate hikes. However, Bitfinex reports that this rally lacks sustained spot buying and depe...
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
