Strategy Skips Bitcoin Buy as BTC Hits $80K for First Time Since January
Bitcoin's price topped $80,000 for the first time since January, with Strategy, a major Bitcoin holder, skipping its weekly buy ahead of its quarterly earnings report. Over $461 million worth of futures positions were liquidated across the crypto market in the last 24 hours.
Bitcoin's price rose above $80,000 overnight, reaching $80,529 early Monday Eastern Time, before dipping to $79,300. This marks a fresh milestone in the cryptocurrency's rebound after dipping below $65,000 in recent months. Strategy, which holds about $65 billion worth of Bitcoin, did not buy any Bitcoin last week, a rare exception ahead of its quarterly earnings report this Thursday. Over the last 30 days, Bitcoin has risen more than 18%, while Ethereum has posted a nearly 15% gain. The recent surge in cryptocurrency prices has led to over $461 million worth of futures positions being liquidated across the crypto market in the last 24 hours, with $317 million being shorts. Strategy co-founder and Executive Chairman Michael Saylor announced on X that there would be no buys that week, resuming the following week.
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