Smart-Contract and DeFi Coins Lead Losses as BTC Price Wilts for 4th Straight Day
Nine Fed members expect a rate increase before year-end, and Bitcoin’s slide also pressured Strategy’s preferred shares and broader crypto stocks.
- On Thursday, Strategy shares fell 5.59% to $110.05 as the Michael Saylor-led bitcoin treasury company faced pressure, with STRC preferred shares dropping to a record low of $85.32.
- Bitcoin slid under $63,000 following Wednesday's hawkish Federal Reserve meeting where Fed Chair Kevin Warsh kept rates unchanged, leaving markets pricing only a 15% chance of steady rates through December.
- Analysts at Marex said, "Add five straight months of BTC trading under its estimated $78k production cost, quietly forcing the weakest miners to capitulate, and you have two real sellers."
- As the market wilted, $450 million in leveraged bets were liquidated within 24 hours, and funding rates for most tokens remain flat to negative, pointing to bearish sentiment.
- Traders are prepping for a potential slide down to $52,000 for bitcoin in the coming weeks, while Strategy stock sits 43.3% under the 200-day simple moving average with key support at $104.00.
12 Articles
12 Articles
MicroStrategy’s preferential stock STRC fell to a new historical minimum and fell well below its nominal value of $100, a move that threatens one of the company’s main funding routes to buy more Bitcoin and reopens the debate about whether it could end up selling part of its BTC reserves. *** STRC closed at $88.59 on Thursday and reached a minimum intraday of $82.5, with a monthly drop of more than 10%. The weakness of the title reduces MicroStr…
Strategy's STRC Preferred Stock Closes at $88.59 for Second Straight Day Below $90
Strategy’s preferred stock, STRC, closed at $88.59 Tuesday — the second day running it’s finished under that $90 line traders… Read the original on Strategy’s STRC Preferred Stock Closes at $88.59 for Second Straight Day Below $90. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Strategy Shares Sink to 52-Week Low Amid Ongoing Weakness
Strategy Inc. (MSTR) shares suffered a sharp drop of more than 5% this Thursday, hovering around $112.53. This decline occurred after it was confirmed that the company suspended its at-the-market (ATM) preferred stock offering program because its STRC vehicle fell to all-time lows of $89, trading below its par value. Additionally, multimillion-dollar stock sales by top company executives, including director Jarrod Patten, exerted significant dow…
STRC at all-time low as Strategy loses 40 years of dividend coverage
Michael Saylor’s bitcoin (BTC) treasury company Strategy has lost 40 years of forecasted dividend coverage in just seven months. On November 20, the company announced, “At current BTC levels, we have 71 years of dividend coverage assuming the price stays flat.” However, on Thursday morning, it admitted, “We have 32 years of dividend coverage through our BTC Reserve.” A few hours later, the counter on its homepage ticked down to 31. Things aren’t…
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