Bitcoin slides to two-week low amid weekend volatility and macro uncertainty
Bitcoin faced renewed selling pressure over the weekend, briefly falling to $87,600, marking its lowest level in nearly two weeks. The decline followed a pattern of sharp Sunday sell offs seen repeatedly in recent weeks. After touching the low, Bitcoin managed a modest rebound, trading back above $89,000, though market sentiment remains cautious.
The move lower comes after Bitcoin had been stabilizing following an early December pullback to $84,000, highlighting ongoing volatility despite broader bullish narratives.
Michael Saylor Hints at Another Bitcoin Buy
As prices dipped, Strategy chair Michael Saylor reignited speculation around another large Bitcoin purchase. He shared a message referencing “more orange dots”, widely interpreted as a signal of an upcoming acquisition.
The company’s most recent purchase, completed on Dec. 12, added 10,624 BTC, its largest accumulation since July. Strategy now holds approximately 660,624 BTC, valued near $58.5 billion at current prices. With an average acquisition cost of $74,696 per coin, the firm remains in profit despite short-term price weakness.
Analysts point to growing concern around an anticipated Bank of Japan interest rate hike, with markets assigning a 98% probability to a 0.25% increase this week.
Rising Japanese rates have historically pressured Bitcoin, as shifts in global liquidity and carry trades impact risk assets.
Market observers expect Bitcoin to remain range-bound between $80,000 and $100,000 in the near term, as traders await a clear catalyst amid already-priced-in macro events.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.