Bitcoin fell on Monday, extending losses after cryptocurrency markets logged four straight weeks of outsized declines as uncertainty over interest rates spurred increasing aversion towards speculative assets.
The world’s largest crypto pulled back after briefly rising as high as $70,000 over the weekend. Bitcoin fell 2.7% to $68,409.7 by 00:58 ET (05:58 GMT).
Get more price insights on Bitcoin and crypto markets by subscribing to InvestingPro
Strategy says no liquidation risk until Bitcoin hits $8k Strategy Inc (NASDAQ:MSTR)– the world’s largest corporate holder of Bitcoin– said on Sunday that it will be able to cover its debt obligations even if the price of Bitcoin fell as low as $8,000 a coin.
The company said in a social media post that it can “withstand a drawdown in $BTC price to $8K and still have sufficient assets to fully cover our debt.”
The company holds 714,644 Bitcoin, having funded its purchases of the coin through a mix of new capital issuances and long-term debt financing.
Strategy, which is led by Bitcoin proponent Michael Saylor, was also seen acquiring more coins in recent weeks as the world’s largest crypto continued to lose ground.
Bitcoin has now wiped out roughly 50% of its price since hitting a record high of around $126,000 in October. The crypto headlined losses in speculative assets as uncertainty over U.S. interest rates saw traders largely sour on speculative assets.
Prolonged losses in Bitcoin had also sparked concerns over Strategy being forced to liquidate some of its holdings to meet its debt obligations, although Saylor had largely dismissed said concerns.
Strategy had in early-Feb reported a $12.4 billion loss in the December quarter, compared to a loss of $670.8 million in the same period in 2024. Beyond its massive Bitcoin holdings, Strategy has limited revenue generation.
Crypto price today: altcoins track Bitcoin losses amid limited relief Broader crypto prices largely fell on Monday, tracking sustained losses in Bitcoin.
World no.2 crypto Ether slid 6.1% to $1,958.63, while XRP fell 7.7% to $1.4575.
BNB lost about 4%, while Solana and Cardano fell 5.4% and 6.2%, respectively.
Among meme coins, Dogecoin fell 11.4%, while $TRUMP fell 2.4%.
Sentiment towards crypto has remained frail since October, with retail and institutional inflows both slowing sharply. A spike in gold prices– amid a speculative frenzy in precious metal markets– also largely overshadowed Bitcoin, as investors sought physical assets.
