Bitcoin Hits Monthly Lows on MicroStrategy’s Weekly Buys

• MicroStrategy buys 2.138 BTC for $209 million.
• Bitcoin hits monthly lows of $91.330.
• Fixes follow pattern after MicroStrategy's weekly purchases.

Bitcoin (BTC) price has fallen again, hitting $91.330, its lowest level since November 27. The pullback comes amid a period of significant swings in the cryptocurrency market, with altcoins also following the downward movement. Tokens such as XRP and ADA have fallen more than 6%, while Some popular meme cryptos suffered even bigger losses.

At the time of publication, the price of Bitcoin was quoted at US$93.820,91, up 0.1% in the last 24 hours.

The recent market volatility coincides with a pattern seen in MicroStrategy’s weekly Bitcoin purchases. The company, led by Michael Saylor, purchased 2.138 BTC between Dec. 23 and Dec. 29 for a total of $209 million, paying an average price of $97.837 per unit. This was the eighth consecutive Bitcoin purchase announced on a Monday by the company.

While MicroStrategy’s strategy of delisting BTC may seem optimistic, the corrections following its announcements have raised questions. For example, after acquisitions on November 25 and December 2, Bitcoin’s price saw notable drops, following similar patterns in subsequent weeks.

The market was also impacted by statements from the Federal Reserve during its last meeting of the year, which brought changes to interest rates and comments considered harsh by Chairman Jerome Powell. These actions reversed the upward movement that BTC had been showing since the beginning of November, when it surpassed the US$ 108.000 mark.

As of now, MicroStrategy holds approximately 446.400 BTC in its reserves, acquired at an average price of $62.428 per unit. The company’s portfolio, valued at approximately $41,1 billion, reflects its continued commitment to the asset, even amid market turmoil.

As investors analyze Bitcoin’s next steps, experts warn of the importance of watching the support at $90.000. Breaking this level could pave the way for a drop below $80.000, intensifying the climate of uncertainty.