HargaRumah: Bitcoin Plummets Toward $90K as MicroStrategy Buys the Dip

Senin, 13 Januari 2025

Bitcoin Plummets Toward $90K as MicroStrategy Buys the Dip


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Bitcoin Plummets Toward $90K as MicroStrategy Buys the Dip

Hello, everyone!

Monday has arrived again, which is obvious by the latest announcement from MicroStrategy about its new multi-million dollar BTC purchase.

This comes amid an ongoing correction for the largest cryptocurrency, which dumped to a new yearly low of under $91,000 earlier today. This happens for the first time since November as the ongoing slump in cryptocurrency prices continues.

Saylor, however, is completely unfazed.

After last week's more modest purchase of roughly $100 million, the world's largest corporate bitcoin holder has splashed nearly $250 million this time to acquire 2,530 BTC.

The average price comes at $95,972 per BTC, and the total stash has grown to precisely 450,000 BTC, bought at an average price of $62,691.

The latest acquisition comes at a rather bad time for bitcoin's price. The cryptocurrency stood close to $96,000 earlier this morning but slumped by over five grand within hours and plunged to its lowest position since November of under $91,000.

MSTR's price has also taken a hit on a monthly scale, being done by 20% since mid-December. The shares went downhill after the company's inclusion into the NASDAQ 100.

Price Action

Total Mkt Cap: $3.33 Trillion | 24HR Liquidations: $707M | Sentiment: Greed

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Bitcoin

The previous trading week went in a highly volatile fashion as BTC skyrocketed to over $102,000 on Monday but dumped by more than ten grand in the next 48 hours. This culminated on Thursday with a price plunge to a 7-week low of $91,200 (on Bitstamp).

The asset bounced off in the following days and spiked above $95,000 on Friday, but that was short-lived. The weekend was somewhat sluggish, with the cryptocurrency's price trading sideways around $94,000 and $95,000.

Monday began on a more positive note as BTC jumped to $96,000, but its run was quickly halted. The subsequent rejection has harmed Bitcoin quite a bit, with its price dumping by three grand in hours to under $93,000. A few hours later, the price dropped below $91,000 for the first time since November last year. This week is also expected to be eventful, perhaps in a bearish manner once again.

For now, BTC's market cap has plummeted to $1.840 trillion, while its dominance over the alts has risen to 54.8%.

Altcoins

The altcoins are deep in the red once again, which is evident from the growing BTC dominance. Ethereum has dropped below $3,200 after a 2% daily decline. XRP, which was among the top performers during the weekend, is down by 3.6% to $2.43. BNB, SOL, DOGE, and TON have marked similar declines.

On the other hand, Cardano, Tron, Sui, Avalanche, and Chainlink have slumped hard by up to 7% in the case of ADA and SUI.

The cumulative market capitalization of all cryptocurrency assets has seen another $100 billion gone. The metric is down to $3.360 trillion on CG.

Best Performers

Mantra (OM) +0.4%
Fasttoken (FTN) +0.7%
Leo Token (LEO) -0.4%

Worst Performers

Virtuals Protocol (VIRTUAL) -12/2%
Movement (MOVE) -11.3%
Worldcoin (WLD) -10.9%

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