Crypto Currency

MicroStrategy Pauses Weekly Bitcoin Purchases Ahead of Earnings

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email MicroStrategy Pauses Weekly Bitcoin Purchases Ahead of Earnings The company reports fourth-quarter earnings on Wednesday. By Helene Braun| Edited by Sheldon Reback Feb 3, 2025, 4:30 p.m. UTC MicroStrategy executive chairman Michael Saylor has been announcing the company’s bitcoin purchases on his

Published 1 year ago in
MicroStrategy Pauses Weekly Bitcoin Purchases Ahead of Earnings
Markets

Share this article

X iconX (Twitter)LinkedInFacebookEmail

MicroStrategy Pauses Weekly Bitcoin Purchases Ahead of Earnings

The company reports fourth-quarter earnings on Wednesday.

By Helene Braun|Edited by Sheldon Reback
Feb 3, 2025, 4:30 p.m. UTC
MicroStrategy executive chairman Michael Saylor has been announcing the company's bitcoin purchases on his X profile. (CoinDesk archives)

MicroStrategy executive chairman Michael Saylor has been announcing the company’s bitcoin purchases on his X profile. (CoinDesk archives)

What to know:

  • MicroStrategy ended its 12-week streak of bitcoin purchases last week.
  • The company had been buying bitcoin on a weekly basis since Nov. 11, bringing its total holdings to 471,107 bitcoin.
  • The reason for the break could be Wednesday’s earnings report, for which it might have a blackout period, a CoinDesk analyst said.

MicroStrategy, the fourth-largest owner of bitcoin (BTC), did not buy any new tokens last week, Executive Chairman Michael Saylor announced on X, ending a 12-week string of purchases.

Since Nov. 11, the Tysons Corner, Virginia-based company has bought 218,887 bitcoin, according to Saylor. It currently holds 471,107 bitcoin.

STORY CONTINUES BELOW
Don’t miss another story.Subscribe to the Crypto for Advisors Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

While Saylor didn’t say why the company held back, a likely reason could be its impending earnings release after the market close on Feb. 5, said James Van Straten, a senior analyst at CoinDesk.

Public companies go into a so-called blackout period for some time before earnings releases to prevent insider trading. During that period, which can last days, weeks or even months, people with financial information about the company are restricted from buying or selling the company’s securities.

In MicroStrategy’s case, given that the majority of its balance sheet is bitcoin, this could include trading the cryptocurrency.

Last week, the company announced a preferred share offering of roughly $250 million to purchase even more BTC. Just a few days later, it more than doubled that amount as it sold roughly 7.3 million shares of the series.

MicroStrategyMichael Saylor
Helene Braun

Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds (ETFs) and updates on crypto exchanges. She is also the co-host of CoinDesk’s Markets Daily show on Spotify and Youtube. Helene is a recent graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

X icon

Helene Braun

!–>
Read More

Be the first to write a comment.

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Currency

Meme coins remain under pressure as Dogecoin extends losses

Key takeaways Dogecoin extends its correction on Monday as memecoins record huge losses. DOGE could drop below $0.10 if the bearish trend persists.  Memecoins record huge losses The cryptocurrency market opened the new weekly candle bearish, with Bitcoin (BTC) slipping below the $77,000 level on Monday and risk appetite deteriorating across digital assets. Meme coins

Published 19 hours ago in
Meme coins remain under pressure as Dogecoin extends losses

Dogecoin risks dropping below $src.1srcsrc

Key takeaways

  • Dogecoin extends its correction on Monday as memecoins record huge losses.
  • DOGE could drop below $0.10 if the bearish trend persists. 

Memecoins record huge losses

The cryptocurrency market opened the new weekly candle bearish, with Bitcoin (BTC) slipping below the $77,000 level on Monday and risk appetite deteriorating across digital assets.

Meme coins started the week on a weak footing as the broader cryptocurrency market continued to struggle. Dogecoin, Shiba Inu, and Pepe all remain vulnerable to further downside after heavy selling pressure emerged following last week’s market correction.

DOGE is down by 5%, making it the worst performer among the top 10 cryptocurrencies by market cap. 

Dogecoin briefly rallied last week and retested the important weekly resistance zone near $0.119 on Thursday before sellers regained control.

The rejection triggered a fresh wave of downside pressure, with DOGE falling nearly 6% through Sunday and extending losses further on Monday as the token traded below the $0.106 level.

Technical outlook: DOGE risks a deeper correction below key EMAs

The DOGE/USD 4-hour chart is bearish as the leading memecoin has dropped below major support levels. 

If DOGE closes the daily candle below the 100-day Exponential Moving Average (EMA) near $0.106, selling pressure could intensify toward the 50-day EMA around $0.103.

A decisive breakdown below that support area may expose the previous trendline breakout region near $0.090, which now acts as the next major downside target.

Momentum indicators continue to reinforce the bearish outlook for Dogecoin. The Relative Strength Index (RSI) on the 4-hour chart currently sits near 41, slipping below the neutral 50 threshold and signaling that bearish momentum is beginning to strengthen.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator confirmed a bearish crossover on Saturday, a signal that remains active and continues to support downside risk in the near term.

Despite the bearish setup, Dogecoin could still attempt a short-term rebound if buyers successfully defend the 100-day EMA support near $0.106.

DOGE/USD 4H Chart

A sustained hold above that level may allow DOGE to recover toward the key weekly resistance zone around $0.119.

However, broader market sentiment, particularly Bitcoin’s direction, is likely to remain the dominant driver for meme coin price action in the near term.

Read More

Continue Reading
Crypto Currency

Bitcoin slides below $76,800 as ETF outflows and inflation fears pressure crypto markets

Key takeaways BTC dips lower for a fourth straight day on Monday after losing nearly 6% the previous week. US-listed BTC spot ETFs record a weekly outflow of $1 billion, the highest in three months. Bitcoin (BTC) remained under pressure on Monday, trading below $77,000 after declining nearly 6% last week, as persistent spot ETF

Published 19 hours ago in
Bitcoin slides below $76,800 as ETF outflows and inflation fears pressure crypto markets

Bitcoin drops below $77k

Key takeaways

  • BTC dips lower for a fourth straight day on Monday after losing nearly 6% the previous week.
  • US-listed BTC spot ETFs record a weekly outflow of $1 billion, the highest in three months.

Bitcoin (BTC) remained under pressure on Monday, trading below $77,000 after declining nearly 6% last week, as persistent spot ETF outflows and stronger-than-expected US inflation data dampened investor appetite for risk assets.

The latest decline marks Bitcoin’s fourth consecutive day of losses, with the cryptocurrency continuing to retreat after failing to sustain momentum above the key $82,000 resistance zone.

Hot US inflation data boosts hawkish Fed expectations

Bitcoin’s recent weakness accelerated following hotter-than-expected US inflation data released last week, alongside stronger US retail sales figures that reinforced expectations for a more hawkish Federal Reserve.

The renewed inflation concerns strengthened the US dollar and pushed Treasury yields higher, creating additional pressure on risk-sensitive assets such as cryptocurrencies.

Higher interest rate expectations typically reduce market liquidity and shift investor capital toward safer, yield-generating assets, limiting demand for speculative markets like Bitcoin.

The rejection near the $82,000 level also triggered additional profit-taking from short-term holders, intensifying the correction.

Institutional demand for Bitcoin also weakened notably last week. According to data from CoinGlass, US spot Bitcoin exchange-traded funds recorded net outflows of approximately $1 billion last week, marking the largest weekly withdrawal since late January.

The sharp reversal in ETF flows signals a cooling of institutional sentiment after several weeks of strong inflows that had previously supported Bitcoin’s rally.

If ETF outflows continue in the coming sessions, analysts warn that Bitcoin could face additional downside pressure.

Bitcoin price outlook: Bulls failed to take out a key resistance level

The BTC/USD 4-hour chart is bearish after Bitcoin’s price was rejected near the 100-week Exponential Moving Average (EMA) around $82,289.

BTC also closed last week below the 61.8% Fibonacci retracement level near $78,490, measured from the October all-time high of $126,199 to the February low around $60,000.

The breakdown below those key technical levels has shifted momentum firmly lower. If selling pressure persists, Bitcoin could extend losses toward the major psychological support level at $75,000.

On the weekly chart, momentum indicators remain mixed but increasingly cautious. The Relative Strength Index (RSI) slipped below the neutral 50 level and currently sits near 35, signaling a strong bearish momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) histogram is also in the negative region, suggesting that the bears are in control. 

If the bearish trend persists, immediate support sits near the clustered 50-day and 100-day EMAs below current

Read More

Continue Reading
Crypto Currency

Bitcoin Depot Files for Bankruptcy as Regulatory Pressure and Revenue Collapse Force Shutdown of 9,000 ATMs

Bitcoin Depot North America’s biggest Bitcoin ATM firm has reached an important point in its journey by submitting for Chapter 11 bankruptcy. This news represents a sharp decline for a firm that was once at the forefront of retail crypto access, but is now gearing up to methodically turn off more than 9,000 devices globally…

Published 19 hours ago in

Bitcoin Depot North America’s biggest Bitcoin ATM firm has reached an important point in its journey by submitting for Chapter 11 bankruptcy. This news represents a sharp decline for a firm that was once at the forefront of retail crypto access, but is now gearing up to methodically turn off more than 9,000 devices globally…
Read More

Continue Reading
Crypto Currency

Japan Brokerages Build Crypto Funds as 2028 Reform Nears

Japan’s SBI Securities and Rakuten Securities are preparing in-house crypto investment trusts as regulators move toward allowing bitcoin and ether funds for retail brokerage accounts. The post Japan Brokerages Build Crypto Funds as 2028 Reform Nears appeared first on Crypto News Australia…

Published 19 hours ago in
Japan Brokerages Build Crypto Funds as 2028 Reform Nears

Japan’s SBI Securities and Rakuten Securities are preparing in-house crypto investment trusts as regulators move toward allowing bitcoin and ether funds for retail brokerage accounts.
The post Japan Brokerages Build Crypto Funds as 2028 Reform Nears appeared first on Crypto News Australia…
Read More

Continue Reading