MicroStrategy, known for its aggressive Bitcoin accumulation strategy, has temporarily stopped purchasing BTC after 12 consecutive weeks of acquisitions. The company did not buy Bitcoin last week and refrained from selling any shares under its at-the-market equity offering program. As of February 2, 2025, MicroStrategy holds 471,107 BTC, acquired at an average cost of approximately $64,511 per coin, with a total investment of around $30.4 billion.
Bitcoin Price Technical Outlook Amid MicroStrategy’s Pause
Bitcoin price movements across different timeframes provide insights into market sentiment and potential future trends. On the daily chart, BTC remains in a broader uptrend but recently reached a local peak near $109,000. Following this high, the asset entered a corrective phase, aligning with an Elliott Wave structure where the current movement is identified as wave four. This retracement is consistent with Fibonacci support zones, particularly around $93,260, which corresponds to the 0.236 Fibonacci level.
Last week, MicroStrategy did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin. As of 2/2/2025, we hodl 471,107 $BTC acquired for ~$30.4 billion at ~$64,511 per bitcoin. $MSTR https://t.co/QTBWl8KlNv
— Michael Saylor⚡️ (@saylor) February 3, 2025
On the lower timeframes, the BTC price action reflects ongoing volatility. Short-term price movements suggest a battle between bulls and bears, with traders monitoring critical support and resistance levels for potential breakout opportunities. Nonetheless, crypto analysts remain optimistic in Bitcoin price reclaiming the $100,000 mark once the global economic crisis owing to U.S. President Donald Trump’s tariff policies stabilize.
MicroStrategy’s decision to pause Bitcoin purchases raises questions about its strategy moving forward. The company’s accumulation has often been viewed as a strong institutional endorsement of Bitcoin, and any deviation from its buying pattern could impact market sentiment. However, the firm’s continued long-term commitment to BTC holdings signals confidence in its value proposition.
Also Read: Bitcoin Drops to $95,300 Amid Market Crash: Will $90K Hold?
Source: https://www.cryptonewsz.com/microstrategy-halts-bitcoin-buy-what-next-btc/