In an interview with CNBC, the Executive Chairman said, “We are buying bitcoin,” adding that Strategy is “accelerating its purchases” and will disclose new activity on Monday. He hinted that investors may be “pleasantly surprised” by what the company has done in recent days. Michael Saylor moved quickly last Friday to shut down rumors that Strategy was selling its bitcoin holdings, calling the reports “false” and reaffirming that the company is aggressively buying.
USDS
It has managed to create a global community and give birth to an entirely new industry of millions of enthusiasts who create, invest in, trade and use Bitcoin and other cryptocurrencies in their everyday lives. The emergence of the first cryptocurrency has created a conceptual and technological basis that subsequently inspired the development of thousands of competing projects. Bitcoin’s most unique advantage comes from the fact that it was the very first cryptocurrency to appear on the market.
At the time of the announcement, Bitcoin was trading near $94,000 and Strategy’s stock ($MSTR) was trading down 2% at $195.86 in premarket trading. According to an SEC filing and a Michael Saylor post on X, the purchases were made at an average price of $102,171 per bitcoin. The company now holds 649,870 BTC acquired for roughly $48.37 billion at an average cost of $74,433 per coin. The bull market support band on the weekly timeframe has flipped into resistance between $109,000 and $113,000, marking the dominant macro barrier.
How Much Bitcoin Is in Circulation?
- Hot wallets are able to be connected to the web, while cold wallets are used for keeping large amounts of coins outside of the internet.
- At the time of publishing, the lowest Bitcoin price recorded today was $91,158, per Bitcoin Magazine data.
- Besides liquidity – there is also an additional factor in calculation of score – market depth/volume ratio.
The 4-hour RSI is starting to form bullish divergence, the BTC price made bttc3s coin a fresh low, but momentum didn’t follow. It won’t flip the trend on its own, but it often sets the stage for at least a short-term bounce. At the same time, Bitcoin is testing the long-term diagonal support line that stretches back to early 2023. This trend line now lines up with the horizontal support zone, creating a very strong confluence area. In weakening ones, both metrics fall together, which is exactly what’s happening now. After relentless downward pressure on prices since BTC’s early October record, crypto investors remain deeply risk-averse.
Each time it appeared, it lined up surprisingly well with local market bottoms. Historically, it has worked both ways, and everyone is trying to figure out which version the market is leaning towards. The current death cross is the classic one, Bitcoin’s short-term moving average sliding under the long-term one. Charts, on-chain data, and recent momentum shifts paint a more nuanced picture.
Charlie went on to work for Coinbase where he became Director of Engineering before leaving the company in 2017 to focus on supporting the development of Litecoin full time. CoinCodex tracks 44,000+ cryptocurrencies on 400+ exchanges, offering live prices, price predictions, and financial tools for crypto, stocks, and forex traders. BTCs’s current circulating supply is 21.00M BTCS out of max supply of 21.00M BTCS. In terms of market cap, BTCs is currently ranked #14 in the Bitcoin (BRC20) Tokens sector.
Bitcoin Sinks Deeper Below $100,000 as Bear Market Grips Crypto
It operates on a peer-to-peer network, where every transaction is recorded on a public ledger called the blockchain. As the first digital currency to enable direct transfers of value without intermediaries, Bitcoin has pioneered a new approach to money. Today, it functions as both a medium of exchange and a store of value, influencing global finance and inspiring many other digital currencies. What exactly are governments and nonprofits doing to reduce Bitcoin energy consumption? Leaders also discussed the current debate surrounding the coal-to-crypto trend, particularly regarding the number of coal plants in New York and Pennsylvania that are in the process of being repurposed into mining farms. The top crypto is considered a store of value, like gold, for many — rather than a currency.
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Funbi creates clear, engaging content to educate users and support the growing Web3 community. The gold price is now trading at $4,081, with bullish volume profiles (green horizontal bars) overhanging above it, indicating XAU is in the hands of the bulls. This adds credence to the thesis that the gold price could extend its rally to fill the imbalance due to the FVG.
How does BTCs’s market cap compare to the rest of the market?
- Bitcoin price has tumbled to its lowest level in six months, trading from below $92,000 to the $95,000s range today, only less than six weeks from hitting a record highs near $126,000 in early October.
- Over the years a large number of people have contributed to improving the cryptocurrency’s software by patching vulnerabilities and adding new features.
- The 50-day moving average for bitcoin at $110,669 is now on the verge of slipping below the 200-day moving average at $110,459, potentially triggering the death cross.
- In weakening ones, both metrics fall together, which is exactly what’s happening now.
- Michael has worked for PricewaterhouseCoopers LLP for over nine years prior to joining BTCS, specializing in investment company audits for leading asset managers in the financial services industry.
In Mechanical Engineering from Lehigh University and a M.B.A. from the Mason School of Business at the College of William & Mary. From February 2011 through February 2014 he served as an independent IT and web services consultant to the National Aeronautics and Space Administration (NASA). From March 2002 through October 2006 he served as a team leader for NASA in their Peer Review Services group. Prior to NASA Peer Review Services Michal served as the web developer for Folio Investments. Michael has worked for PricewaterhouseCoopers LLP for over nine years prior to joining BTCS, specializing in investment company audits for leading asset managers in the financial services industry. Michael is a Certified Public Accountant licensed in the state of Pennsylvania.
The market’s next key catalyst will likely be the Federal Open Market Committee’s December rate decision, which could determine whether Bitcoin price sees further losses or a potential “Santa rally” in the coming weeks. Ethereum dropped below $3,000 today and Solana each dropped roughly a third since early October, feeding into a broader $1 trillion wipeout across the crypto market. Analysts say a sharp shift in market sentiment is driving the latest crypto downturn.
Henry Allen of Deutsche Bank warned that investors shouldn’t “underestimate the impact” of the Fed’s increasingly hawkish stance, which has often lined up with broad market sell-offs. At the time of publishing, the lowest Bitcoin price recorded today was $91,158, per Bitcoin Magazine data. Bitcoin price has fallen nearly 30% from its early October peak near $126,000, trading in the $92,000–$95,000 range as investors weigh Fed uncertainty and missing economic data. The digital currency fell as much as 3.9% to $97,956, intensifying a slump that’s wiped out more than $450 billion in value since early October. Over the weekend, Bitcoin was trading below $92,000 at times, according to Bitcoin Magazine Pro data. Strategy’s recent bitcoin purchases had been smaller and more incremental amid a sharp drop in the company’s stock price.
About BTCS
It has circulating supply of – btcs coins and a max supply of – btcs alongside h trading volume. Confidence is mainly based on liquidity, because it’s the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity – there is also an additional factor in calculation of score – market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with – it’s reducing overall score. Bitcoin is currently down about 25% from its October all time high around $126,000 and this correction has been ongoing for roughly 41 days.
The downtrend is still intact, but the market has started flashing signs of exhaustion. By quarter’s end, the firm’s treasury expanded to 1,582 BTC and 2,830 ETH, further growing to 1,610 BTC and 3,950 ETH by the end of October. At current prices, that’s about $150 million in Bitcoin and $12.3 million in Ethereum. This comprised $118.6 million in product sales, $30.6 million in mining revenue (up 241% year over year), and $1.3 million in other revenues. The company achieved gross profit of $16.6 million, a significant turnaround from a $21.5 million gross loss in Q3 2024. The Nasdaq-listed firm’s shares, which trade under the ticker CAN, are up nearly 16% on the day to a recent price of $0.988, cutting its five-day loss to 11%.
Saylor also stressed that Strategy’s balance sheet is “pretty stable” and only lightly leveraged, with no near-term debt pressure. He reiterated his belief that bitcoin is “always a good investment” for those with a multi-year horizon, contrasting long-term “digital capital” accumulation with short-term trading strategies. Funbi is a dedicated crypto analyst with a strong focus on blockchain research and market trends. With a background in technical analysis and a passion for DeFi, he tracks on-chain data to uncover insights that shape the evolving crypto landscape.