"Bitcoin extended its weekend slide on Sunday, dropping below $87,000 as a fresh wave of liquidations swept through the crypto market, wiping out roughly $200 million in leveraged positions over the past 60 minutes, per Coinglass data. At the time of writing, the bitcoin price stood at $86,751, down about 2% over the past 24 hours, according to market data."
"Strategy, the world's largest publicly traded BTC holder, added nearly $1 billion in bitcoin last week, acquiring 10,645 BTC at an average price of $92,098 per coin. This marks the company's second consecutive mega-purchase, bringing its total holdings to 671,268 BTC, purchased for $50.33 billion at an average cost of $74,972 each. The acquisition was primarily funded through equity issuance, with $888.2 million raised via common stock sales and the remainder through STRD preferred shares, despite ongoing shareholder concerns about dilution."
Bitcoin dropped below $87,000 after liquidations erased roughly $200 million in leveraged positions within an hour, with the price at $86,751 and trading volume about $38 billion. BTC traded 4% below a seven-day high near $89,935 and hovered just above a weekly low around $87,152. Circulating supply stands at 19.96 million of a fixed 21 million, giving a market capitalization near $1.73 trillion. Thin liquidity and persistent sell pressure amplified downside volatility during typically illiquid Sunday trading ahead of a busy U.S. economic and central bank calendar. Strategy purchased 10,645 BTC for nearly $1 billion, funded mainly via equity issuance despite shareholder dilution concerns.
Read at Bitcoin Magazine
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