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Bitcoin Dips As Strategy Total Holdings Reach 709k

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Bitcoin price

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The Bitcoin price has dropped 4% in the last 24 hours to $89,427 as Michael Saylor’s company, Strategy, continues its aggressive accumulation of the cryptocurrency.

Last week, the company purchased 22,305 BTC for $2.13 billion, at an average price of $95,284 per coin, according to a U.S. Securities and Exchange Commission filing. This latest purchase brought Strategy’s total Bitcoin holdings to 709,715 BTC, bought for roughly $53.92 billion at an average cost of $75,979 per coin.

The company now holds about 3.37% of the total 21 million BTC supply and 3.55% of the 19.98 million currently in circulation, according to Blockchain.com. Strategy’s recent buying spree marks its largest Bitcoin acquisition since February 2025, when it purchased over 20,000 BTC for around $2 billion. Earlier this month, the company also bought 13,627 BTC ($1.3 billion), signaling a sharp acceleration in buying compared with most of last year.

Strategy Maintains Bitcoin Accumulation

The surge in purchases came amid Bitcoin briefly surpassing $97,000 and Strategy’s shares (MSTR) rising past $185, boosted further by Morgan Stanley Capital International’s (MSCI) decision not to exclude digital asset treasury companies from its market index.

Despite the recent price pullback, Strategy remains committed to its Bitcoin accumulation strategy. Analysts suggest that the market is now focusing on which digital asset treasury companies can survive through disciplined management and realistic expectations.

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James Butterfill of CoinShares emphasized that long-term success depends on credible business models, disciplined treasury practices, and prudent handling of digital assets on corporate balance sheets. Strategy’s continued buying underscores Michael Saylor’s conviction that Bitcoin should remain a core part of corporate treasury strategy, even as volatility in cryptocurrency markets persists.

Bitcoin Tests Major Support Zone Near $85K

Bitcoin has pulled back to $89,596, marking a 3.26% drop in the past 24 hours, but technical indicators indicate a potential rebound may be forming. The daily chart shows Bitcoin currently hovering near a major support zone around $85,000–$87,000, which has historically acted as a strong floor for price declines.

Analysts are watching this level closely, as a bounce from here could trigger a parabolic reversal, pushing prices back toward $100,000. Earlier price action shows Bitcoin forming a bullish channel in April–May 2025, followed by a double top pattern in June, which led to a significant correction in the months that followed.

The market then entered a prolonged downtrend, facing repeated resistance levels near $115,000 and $110,000, which it failed to break multiple times. The repeated rejection at these highs reinforced selling pressure, while the support zone now serves as a key area for potential accumulation by investors.

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BTCUSD Chart Analysis Source: Tradingview

The Relative Strength Index (RSI) is currently at 42.65, indicating that Bitcoin is neither oversold nor overbought but is approaching a level that often precedes upward momentum. Traders are likely monitoring RSI in combination with price action at the support zone to identify entry points for a potential bullish move.

If Bitcoin manages to hold above the support area and gains upward momentum, the chart suggests a parabolic recovery path toward previous resistance levels. However, failure to defend this zone could lead to further downside, potentially testing lower levels near $80,000. Overall, market sentiment remains cautious, with investors balancing optimism over a potential rebound with concerns over near-term volatility.

This technical setup highlights the ongoing tug-of-war between buyers and sellers, emphasizing that Bitcoin’s next major move will depend on how it reacts to the current support zone and whether it can reclaim momentum toward $100,000 and beyond.

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Crypto World

FG Nexus Offloads $14M in ETH as Corporate Ethereum Treasuries in Pain

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Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions

FG Nexus, a publicly listed Ethereum treasury and infrastructure company, liquidated another chunk of its Ether treasury on Tuesday, offloading 7,550 ETH worth roughly $14 million.

The latest sale adds to a series of disposals that have locked in more than $80 million in losses on a position built near Ether (ETH) 2025 highs. 

Onchain data from Arkham shows that the firm accumulated 50,770 ETH worth around $196 million between August and September 2025 at an average price of $3,860 per coin.

On Oct. 22, the company doubled down on its ETH accumulation strategy, announcing its intention to sell its Quebec property to accumulate more ETH.

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Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions
FG Nexus sells 7,550 ETH. Source: Arkham

As the market turned and the ETH price fell from its October highs of over $4,600 per coin to around $2,700 in November, the company began selling.

FG Nexus has offloaded just over 21,000 ETH for about $55 million, and netted a loss of over $80 million.

The company has also seen its share price for FGNX drop roughly 52% over the past month. 

Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions
FG Nexus share price takes a beating. Source: Google Finance

FG Nexus remains one of the largest publicly traded owners of ETH, with holdings of 37,594 ETH, according to Arkham.

ETH treasury companies under fire

FG Nexus isn’t alone in feeling the pain from an Ether downturn that has left many large corporate treasuries deeply underwater.

Bitmine Immersion Technologies, by far the largest listed ETH holder with 4,422,659 ETH on its books, is sitting on paper losses estimated at around $8.8 billion as Ether trades well below its average acquisition price, even as the company continues to add to its stash

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Related: ETHZilla liquidates $74.5M in Ether to redeem convertible debt

Peter Thiel’s Founders Fund exited its stake in Ethereum treasury firm ETHZilla entirely last week, with ETHZilla’s stock now down about 97% from its all‑time high, as equity markets punish aggressive Ether‑heavy strategies, with other companies actively unwinding.

Trend Research spent February slashing its Ether position on Binance, selling 651,757 ETH for about $1.34 billion on Feb. 8, and locking in an estimated realized loss of around $747 million.

Bitcoin treasury plays feel the heat

The strain on crypto treasury plays is not limited to Ethereum. On Feb. 20, Bitcoin (BTC) treasury company Metaplanet came under fire from shareholders, accusing the company of hiding losses and key details of its Bitcoin bets.

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Despite continued BTC purchases throughout February, on Wednesday, the largest listed owner of BTC, Strategy, became the most-shorted large-cap US stock according to data from Goldman Sachs, as hedge funds turned bearish on Saylor’s highly leveraged, Bitcoin‑centric balance sheet model.

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder