Michael Saylor’s Firm Adds 10,624 BTC Amid Bitcoin Price Drop

Michael Saylor signaled his firm may increase its Bitcoin holdings amid recent market declines. Strategy recently bought 10,624 BTC, bringing its total to about 660,624 BTC, valued at approximately $58.5 billion with an average cost of $74,696 per coin.

Market Movements

Bitcoin briefly hit a two-week low near $87,750 before recovering to over $89,000.
Weekends show quick price movements due to thin liquidity.
Ether showed relative strength, while major altcoins lagged.

Bank Of Japan's Influence

Analysts attribute selling pressure to expectations around the Bank of Japan's actions.
Fear of a carry trade unwind linked to Japanese rate expectations is noted as a factor.
Some believe Japan’s impact is already priced in, indicating markets anticipate events.

Market Dynamics

Recent drops are seen as part of standard market adjustments rather than new shocks.
Long-term holders and short-term traders are influencing price movements.
No signs of widespread liquidations or funding crises, suggesting measured declines.