Bitcoin risks losing $70K as Strategy’s STRC slips below $100
STRC’s dropped below its $100 par value, indicating that Strategy will likely pause Bitcoin buying this week, which could help the bears pull price down to $70,000.
Bitcoin (BTC) rose 2.66% to around $75,800 on Monday after Strategy disclosed a $2.54 billion purchase, the company’s third biggest ever, and equivalent to about 2.5 months of new BTC supply.
However, several indicators suggest the rally may fizzle out.
Key takeaways: