Amid the recent red performance of the global digital asset market and a considerable decline in the price of Bitcoin, Michael Saylor, the former CEO of MicroStrategy, delivered a message encouraging investors to "Bet on the Future". Saylor is known for sharing positive messages about Bitcoin. MicroStrategy currently holds 214,246 bitcoins, purchased at an average price of $33,706.00.

The market saw a significant outflow of Bitcoin from the Coinbase exchange, sparking speculation about institutional purchases or Spot ETFs. Around 33.8K Bitcoins were moved out, indicating notable activity within the institutional investor realm. Moreover, Binance witnessed a substantial decline in Open Interest, potentially signaling a shift in sentiment among retail investors favoring a rise in Bitcoin prices.

The decline in the global crypto market cap by over 6% in the last 24 hours, reaching $2.47 trillion, resulted from Bitcoin's price decrease of 6% in the past week. Bitcoin is currently being traded at an average price of $65,790. The rise in the 10-year US Treasury yield and the strengthening US dollar may have contributed to the market's downturn, along with concerns about inflation.

Additionally, a large Bitcoin transfer to the Bitfinex exchange by a major holder led to selling activity, driving Bitcoin's price down further. This decline impacted stocks related to Bitcoin, with Coinbase and MicroStrategy dropping by 4% and nearly 7%, respectively. Mining stocks like Marathon Digital and Riot Platforms saw losses of 7% and 6%, respectively, while CleanSpark, a top-performing miner this year, slid by 6%.