Bitcoin Falls Below $80,000 Ahead of Fed Decision as Strategy Pauses Buying and Strive Adds 6,182 BTC
Bitcoin slipped under Bitcoin slips under $80,000 as traders de-risk ahead of Fed meeting.
as traders de-risked ahead of the Federal Reserve’s upcoming meeting, according to CoinDesk. Decrypt reported the break below $80,000 followed renewed Iran-related fears over the weekend, though oil prices and rates eased the following morning, offering some relief. CoinDesk also noted oil retreating as the Fed decision loomed, with a heavy macro week ahead that includes corporate earnings, the FOMC meeting and key economic data, per Decrypt. Separately, Decrypt cited analysts pointing to a sell-off in AI stocks and bitcoin ETF outflows as pressure points, with HashKey’s Tim Sun flagging Analysts point to a sell-off in AI stocks and ETF outflows, with HashKey's Tim Sun flagging $75,000 as the next key support level.
as the next support level.
Corporate treasury activity diverged. Strive purchased 6,182 BTC for Strive Buys 6,182 Bitcoin for $511 Million, Lifting Holdings to 43,000 BTC.
, lifting its total holdings to 43,000 BTC — a The purchase increased its bitcoin balance by 16.8% during a period that included the closing of a $630 million preferred-stock offering.
increase — during a period that also saw it close a The purchase increased its bitcoin balance by 16.8% during a period that included the closing of a $630 million preferred-stock offering.
preferred-stock offering, according to The Defiant. The Block reported the purchase puts Strive within 1,000 BTC of Metaplanet, the current second-largest corporate bitcoin holder, and that Strive unveiled a new Strive's latest bitcoin purchase puts it within 1,000 BTC of second-place Metaplanet as it unveils a new $1 billion preferred stock offering program.
preferred stock offering program.
Strategy, meanwhile, paused its bitcoin buying and spent Strategy pauses bitcoin buys, repurchases $205 million of STRC preferred shares.
repurchasing STRC preferred shares, its largest weekly STRC buyback in more than a month, according to Decrypt and The Block. Strategy’s USD cash balance fell to The Bitcoin treasury firm's USD Cash balance fell to $242.4 million after its biggest weekly STRC buyback in more than a month.
, per Decrypt. The Block noted Strategy’s holdings represent roughly Strategy's bitcoin holdings account for roughly 4% of the total supply cap, with $3.9 billion in paper gains.
of bitcoin’s total supply cap, with Strategy's bitcoin holdings account for roughly 4% of the total supply cap, with $3.9 billion in paper gains.
in paper gains.
Sources: CoinDesk, The Defiant, Decrypt, The Block
This article is for information only and is not financial advice.
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