Saylor doubles down with $1B buy while 400,000 Chinese mining rigs go dark in largest hashrate drop since 2021.
What's Happening:
Bitcoin drops to $87,925 as network hashrate crashes 10% in single day
MicroStrategy announces fresh $1B Bitcoin purchase despite market weakness
400,000 mining rigs shut down in China's Xinjiang region, largest outage since mining ban
Covered call selling by Bitcoin whales creating persistent downward pressure on price
Why It Matters: The 10% hashrate drop represents one of the most significant network disruptions since China's 2021 mining ban, yet Bitcoin's infrastructure continues functioning normally—proof of its resilience. Meanwhile, Michael Saylor's aggressive buying at $87K signals institutional conviction that these levels represent opportunity. The divergence between retail fear and institutional accumulation often precedes major moves.
Technical View: $BTC broke below the critical $88K support level, now testing $87,576 as the new floor. The price action shows "extreme low volatility" compression, historically a precursor to significant breakouts. Whale accumulation through covered call strategies suggests smart money positioning for lower entry points before the next leg.
🎯 Key Levels:
Support: $87,000 | Resistance: $90,000
24h Range: $87,576 - $89,968
💡 When China's hashrate goes dark but Bitcoin keeps ticking, and Saylor keeps buying—that's decentralization in action
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Bitcoin #BTC #MicroStrategy #Mining #CryptoNews
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
