On December 8, Bitcoin briefly soared to $92,000 before falling back to $90,000, despite a statement from Michael Saylor's company, Strategy, about purchasing 10,624 bitcoins. Analysts and influencers remain divided: some point to market manipulation, while others argue that the crypto economy is entering a bear market phase.
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Weakening the impact of Saylor's Monday statements
After starting the new week with a jump of 4% to $92,000, Bitcoin ultimately ended the day lower, trading around $90,000. While volatility for BTC is not new, the price movement on December 8 seemed unusual as it coincided with the announcement that Michael Saylor's company, Strategy, acquired an additional 10,624 BTC, increasing its total holdings to 660,624 BTC.
During Bitcoin's sharp rally in the second half of the year, Michael Saylor's regular Monday announcements of new BTC purchases by Strategy often coincided with renewed market movement. The effect was most pronounced when the company followed an aggressive accumulation strategy based on debt financing, boosting investor sentiment. However, when Strategy cut back on its borrowed purchases, the impact of Saylor's statements weakened and proved insufficient to counter the subsequent decline of Bitcoin.
Additionally, the market crash on October 10, which led to the destruction of more than $19 billion in borrowed positions within 24 hours, created a bearish sentiment that has plagued BTC since. Assumptions that the macro structure supporting the BTC rally for most of 2025 has collapsed led to the cryptocurrency's drop to $80,500, a decline of more than 30% from its peak of over $126,000 on October 6.
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Analysts discuss the motives of Strategy
Since BTC seemingly reached its bottom on November 21, it has been slowly rising, reviving hopes that it may still finish 2025 with modest gains. However, the leading cryptocurrency is struggling to maintain upward momentum, with each wave of rallies seemingly lasting only a few days. The purchase of nearly $1 billion in BTC by Strategy, which many expected would give the cryptocurrency a boost, also failed to trigger a rally that would ultimately allow it to surpass the $100,000 mark again.
In fact, while Saylor reported the purchase, BTC plummeted, falling below $90,000. This price movement puzzled analysts and some influencers, such as Andrew Tate, who publicly questioned why this announcement did not help boost the cryptocurrency.
I'm a big fan of BTC, but MicroStrategy buys 10k BTC in one day and the price doesn't change. Explain that to me," Tate asked in a post on X.
While some social media analysts explained BTC's disappointing behavior with claims of market manipulation by a single large trader, financial analyst and contrarian Jacob King argued that the crypto economy is in the early stages of a bear market, and that Saylor's 'staged pump' will not provide the expected relief. King suggested that investors are unlikely to be reassured by someone whose previous trades are 'in the red.'
His latest purchase was a staged pump, hoping the market would spike briefly so he could sell at a higher price. Saylor was once openly against BTC. His current 'reversed' play is just a trick to fool naive investors chasing falling stocks. Get out while you can," King said in response to Tate's post.
