The cryptocurrency market is under significant pressure, with Bitcoin losing over 11% of its value in the last 24 hours.
Bitcoin Decline and Community Reaction
Bitcoin fell over 11% in the last 24 hours, reaching $82,858 at press time. Nearly $1 billion has been liquidated across the crypto market, with Bitcoin accounting for $372 million of that total. The drop has sparked reactions from the crypto community.
Michael Saylor's Philosophical Take
Strategy cofounder Michael Saylor has responded with a philosophical statement inspired by Satoshi. In his tweet, he hints at resilience amidst market instability, asserting that true believers continue to build and accumulate Bitcoin.
Bitcoin Rally Hits Pause
Bitcoin's rally paused on Monday as traders weighed macroeconomic concerns. Bitcoin dipped to $85,007 after a big jump on Sunday following the announcement of a crypto strategic reserve. Concerns eclipsed earlier enthusiasm, leading to a drop to $82,252 on Tuesday. Saylor’s Strategy did not purchase Bitcoin last week, a rare break in their consistent buying trend over recent months.
Facing volatility, long-term cryptocurrency advocates continue to believe in its potential despite short-term fluctuations.
