Bitcoin News
By James Thorp
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MSTR and STRC Both Bleeding. Strategy's two publicly traded securities are both getting crushed.
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$1.3 Billion Liquidated in 24 Hours. The real carnage showed up in the liquidation data. Nearly $500 million in positions got wiped out…
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What's Holding the Market Down. There's no single positive catalyst visible right now. That's kind of the problem.
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Bitcoin is back below $59,000. It's the lowest the coin has traded in nearly two years, and the slide is dragging Strategy's stock down hard with it.
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The move started the day before, when MSTR fell 10% and pulled Bitcoin down to $59,050. There was a brief bounce — Bitcoin clawed back toward $62,000 for a moment — but it didn't…
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Strategy's two publicly traded securities are both getting crushed. MSTR dropped another 7% and hit $88, a new multi-year low.
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Strategy holds a massive amount of Bitcoin. So when Bitcoin drops, the pain isn't abstract — it hits the company's balance sheet in real time.
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The relationship between MSTR's price and Bitcoin's trajectory has been tight for years. Strategy built its entire identity around Bitcoin accumulation, which made the stock a…
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The real carnage showed up in the liquidation data. Nearly $500 million in positions got wiped out in a single hour. Over the full 24-hour period, total liquidations hit $1.
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That's not a small number. That's a lot of people having a very bad day.
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Long positions took the brunt of it. Traders who had been betting on Bitcoin continuing upward got caught offside when the drop accelerated.
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More context: Bitcoins US Demand Collapses Near $57,300 Liquidation Level as ETFs Bleed $6.35 Billion
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The largest single liquidation happened on Binance — one position, worth over $19 million, gone.
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Altcoins didn't escape either. They rarely do when Bitcoin drops this sharply. The broader market sold off alongside Bitcoin, which pushed total liquidation figures even higher…
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There's no single positive catalyst visible right now. That's kind of the problem. Markets can absorb bad news if there's something on the horizon to look forward to — an ETF…
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