Strategy's average purchase price stands at $74,696 per coin, keeping the company in profitable territory despite the weekend sell-off.
Bitcoin News
Bitcoin dropped to $87,600 on Sunday during late trading hours, marking its lowest point in two weeks. The asset last touched this level on Dec. 2, when it was recovering from $84,000. Trading data from Coinbase showed the decline occurred during typical weekend hours when markets see reduced liquidity.
Strategy chair Michael Saylor posted a hint about another purchase on X. His message included a portfolio chart with the caption, "Back to More Orange Dots." The company completed its most recent acquisition on Dec. 12, buying 10,624 Bitcoin for its treasury.
The firm now holds 660,624 Bitcoin valued at roughly $58.5 billion at current market rates. Strategy's average purchase price stands at $74,696 per coin, keeping the company in profitable territory despite the weekend sell-off.
Bitcoin recovered above $89,000 shortly after hitting the Sunday low. The quick dip and recovery pattern has appeared multiple times over recent weeks, with Sunday sessions frequently showing increased selling pressure followed by rebounds.
Some analysts point to Japan's upcoming central bank decision as a factor behind the selling. The Bank of Japan is widely expected to announce a 0.25% rate increase on Friday. Polymarket data shows a 98% probability of this outcome.
Previous rate hikes by Japan's central bank have preceded significant drops in Bitcoin. Japan holds substantial U.S. debt, creating connections between its monetary policy decisions and global risk asset movements, including cryptocurrencies.
Justin d'Anethan from Arctic Digital noted that rate expectations in Japan sparked concerns about another carry trade unwind. This scenario typically pressures risk assets and prompts macro funds to reduce positions. The move to $88,000 represents a setback after prices recovered from November lows.
Analyst Sykodelic argued that markets have already accounted for Japan's decision. Forward-looking price action means assets move before events happen rather than during them. D'Anethan expects Bitcoin to remain between $80,000 and $100,000 as traders wait for new catalysts.
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