#crypto
📉 Bitcoin below $71,000: MicroStrategy's first sales and a pause in the stock market
The crypto market continues its local correction. Over the past 24 hours, BTC has fallen by 3.4% (and by 7.5% for the week), testing the $70,830 mark on Tuesday morning (the local low was $70,120).
What is pressuring the market and what to expect next? Let's analyze the main factors:
1. Precedent from MicroStrategy (MSTR)
The main trigger for bearish sentiment is the filing of an 8-K report. The largest corporate holder of bitcoin has publicly disclosed the sale of part of its reserves for the first time in 5 years. Although the volume is symbolic (32 BTC for $2.5 million at an average price of $77,135 to finance dividends on preferred shares), the precedent itself made the market nervous. Polymarket has already seen a $14 million dispute surrounding this event.
2. Macroeconomics and Geopolitics
Stock Market: Stocks pause at all-time highs. Investors book profits after a long AI rally. The MSCI Asia-Pacific index fell 0.5%, while Nasdaq 100 futures fell 0.7%.
Oil and the Fed: Brent is holding around $94.40 a barrel amid stalled U.S.-Iran ceasefire talks. The market fears that high energy prices will force the Fed to keep interest rates high for longer.
3. Altcoins follow the “leader”
Most top alts repeat the movement of the first cryptocurrency:
$ETH balances on the verge of a psychological mark: $1,996
$XRP lost 3% ($1.28)
$SOL sank by 1.7% ($80.47)
Anomaly of the week: Against the background of the general decline, Hyperliquid (HYPE) remains the absolute leader. The token has grown by 24.3% over the past 7 days and is trading at $73.76, firmly entrenched in the top 10 by market capitalization.
📊 What’s the result?
Bitcoin has updated its multi-week low. Since the inflow into ETFs is now showing negative dynamics, and MicroStrategy (albeit formally) has acted as sellers, there are no obvious drivers for an instant reversal in the coming days. We are observing the support zone around $70k.
