Strategy (MSTR) Stock: Michael Saylor Signals Bitcoin Purchase as BTC Falls to $87,600

TLDR

• Strategy chairman Michael Saylor hinted at another Bitcoin acquisition Sunday as BTC dropped to $87,600, posting his signature “orange dots” chart
• The company holds 660,624 BTC valued at $58.5 billion with an average purchase price of $74,696 per coin
• Bank of Japan rate decision Friday has 98% probability of 0.25% hike, creating selling pressure across crypto markets
• Market sentiment plunged into extreme fear with Fear and Greed Index falling below 21
• Bitcoin futures volume dropped 24% while open interest climbed 3.2%, signaling range-bound price action ahead

Michael Saylor posted his signature signal Sunday night. The Strategy chairman shared “Back to More Orange Dots” on X with a portfolio chart. Bitcoin had just hit $87,600.

MicroStrategy Incorporated, MSTR

The post suggests another Bitcoin purchase is coming. Orange dots on Strategy’s chart represent BTC acquisitions. Saylor has made this his trademark move during market dips.

Bitcoin fell to its lowest level in two weeks during Sunday trading. The price hasn’t been this low since December 2. It recovered above $89,000 by Monday morning.

Strategy last bought Bitcoin on December 12. That purchase totaled 10,624 BTC, the largest since late July. The company now owns 660,624 BTC worth approximately $58.5 billion.

Their average cost basis sits at $74,696 per coin. Strategy remains in profit on its Bitcoin holdings. But the margin is narrowing as prices fall.

Japan Rate Hike Spooks Crypto Traders

The Bank of Japan meets Friday. Polymarket shows 98% odds of a 0.25% rate increase. That’s putting pressure on Bitcoin.

Japan holds more US debt than any nation. Rate hikes shift global capital flows. Risk assets like crypto typically suffer.

Analyst NoLimit warned Sunday that markets are underestimating Japan’s impact. Previous rate increases triggered Bitcoin crashes. The historical pattern is clear.

Justin d’Anethan from Arctic Digital called the drop to $88,000 a psychological defeat. He said Japanese rate fears are causing carry trade concerns. That pushes macro funds to reduce exposure.

Some analysts disagree. Sykodelic said the rate hike is already known and priced in. Markets anticipate events before they happen.

D’Anethan expects Bitcoin to stay between $80,000 and $100,000. Traders are waiting for a catalyst.

Fear Dominates Market Sentiment

The Crypto Fear and Greed Index crashed below 21. That marks extreme fear territory. The index has stayed near these levels for weeks.

Derivatives data confirms the cautious mood. Bitcoin futures volume fell 24% to $49 billion, according to CoinGlass. Lower volume means less conviction from traders.

Open interest tells a different story. It rose 3.2% to $60.7 billion. Rising open interest with falling volume creates a stalemate. Positions are building but momentum is missing.

Bitwise analyst Jeff Park identified another issue. Early Bitcoin holders are selling call options. That caps upside potential even as ETFs buy spot Bitcoin.

Park said BlackRock’s IBIT Bitcoin ETF shows positive call skew. Traders are paying premium for upside protection. But native Bitcoin options face supply pressure from early adopters.

The disconnect explains why ETF inflows aren’t lifting prices. Structural selling from options activity offsets institutional buying.

Strategy’s average cost remains well below current prices at $74,696 per coin. The company continues accumulating despite market volatility. Saylor’s latest post suggests another purchase is imminent as Bitcoin tests support levels.

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