MicroStrategy’s slide below the value of its Bitcoin stash, heavy outflows from Strategy wallets and a key chart breakdown are sharpening focus on the firm’s role in the latest BTC sell-off. Together, new data and trader warnings point to rising concern that forced selling from the company could add fresh pressure to Bitcoin.
MicroStrategy trades below Bitcoin net asset value for first time, analyst says
Bitcoin’s latest slide comes as MicroStrategy’s market value drops below the worth of its Bitcoin holdings, according to derivatives trader Derivatives Monke. He pointed to the company’s strategy dashboard, which shows the stock trading at less than one times its Bitcoin net asset value for the first time.
MicroStrategy Bitcoin Strategy Tracker. Source: X
In practical terms, this means the market now values MicroStrategy’s BTC stack at less than the firm’s total debt and obligations. As this discount appears, traders are positioning for the risk that ongoing pressure on MicroStrategy’s share price could eventually trigger forced Bitcoin sales, adding another possible source of supply to the market.
Strategy wallets rank among biggest Bitcoin sellers over 24 hours
Strategy sits near the top of Bitcoin outflow charts over the past day, on-chain data shared by James CryptoGuru shows. Several Strategy-linked wallets appear among the largest sellers, each moving roughly 3,400 to 4,000 BTC in 24 hours.
Bitcoin 24 hour outflows wallets. Source: Arkham Intelligence / X
The list also includes major exchange wallets from Binance and Coinbase, but Strategy’s repeated entries highlight concentrated selling from the firm’s addresses. Together, these transfers place Strategy alongside the biggest Bitcoin distributors in the market over the last day.
Trader flags Bitcoin risk after Strategy breaks below key moving average
Strategy Inc.’s share price has broken below its 50-week moving average after failing to hold repeated tests of the trend line, chart analyst Merlijn The Trader noted. The weekly chart shows MSTR rolling over from recent highs and accelerating lower once it lost that support zone.
Strategy and Bitcoin 50 week moving average charts. Source: Merlijn The Trader
In a parallel chart, Merlijn highlighted that Bitcoin’s weekly candles now sit at almost the same 50-week moving average area. The coin trades just above the trend line after several weeks of stalling near recent highs, placing it in what the analyst calls a “danger zone” similar to Strategy’s setup before the breakdown.
According to Merlijn, a clean loss of this moving average on Bitcoin would mirror the structure that preceded the sharp sell-off in MSTR. In that scenario, the analyst warns that downside pressure could intensify as long-term trend support gives way and traders reassess risk around the current cycle highs.
Source: https://coinpaper.com/12364/micro-strategy-cracks-below-nav-as-bitcoin-enters-danger-zone