The bitcoin price fell more than 5% in the past 24 hours on Sunday evening, dropping below $65,000 as large holders moved coins onto exchanges and recent buyers sold at a loss, adding pressure to an already fragile market. Most of the price drop occurred within just two hours on Sunday evening. This marks Bitcoin's first-ever stretch of six consecutive negative weekly closes, six straight closes below its 100-week moving average, and three consecutive closes beneath its 2021 high.
Bitcoin's price climbed above $106,000 on Monday as Strategy, the world's largest corporate holder of Bitcoin, announced its latest acquisition of 487 BTC for approximately $49.9 million. According to an SEC filing, the purchases were made between November 3 and November 9 at an average price of $102,557 per Bitcoin, inclusive of fees and expenses. The business intelligence firm's total Bitcoin holdings have now reached 641,692 BTC, acquired for an aggregate purchase price of $47.54 billion at an average price of $74,079 per Bitcoin.
