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Bitcoin falls by 3% post $4.6B MicroStrategy purchase

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3 hours ago

Bitcoin's price dropped by 3% following MicroStrategy's massive $4.6 billion purchase, causing market concern.

BTC price reacts as MicroStrategy announces giant purchase

MicroStrategy announced a $4.6 billion Bitcoin purchase, leading to a 3% price drop. Leading traders noted that this explains a lot of the buying pressure in the market.

Opportunists suffer in Bitcoin support retest

Bitcoin continued to decline, breaking below $90,000. This resulted in long position liquidations totaling around $35 million. Traders expect further downturns in the coming weeks.

Trader and analyst comments

Traders like Daan Crypto Trades and Michaël van de Poppe noted that the current market situation presents unique opportunities for 'buying the dip'. Analysts advise watching if current support levels will hold.

MicroStrategy's Bitcoin purchase led to a temporary price drop. However, experts believe the current situation offers strategic buying opportunities.

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