is sliding, and institutional pressure is mounting. Yet, Michael Saylor refuses to back down. Strategy (NASDAQ:) faces a brutal valuation crunch. The share price of MSTR has dropped from a yearly high of $457 to $82 today.
Even so, its executive chairman is dropping hints about another massive cryptocurrency purchase. Saylor’s unwavering stance despite warnings at a critical time to halt BTC purchases. The broader crypto market is desperately trying to defend key price levels at $60K.
Strategy’s Valuation Drops
The financial foundation behind Strategy’s aggressive accumulation is showing severe cracks. The company’s common stock (MSTR) recently plummeted to around $82. This marks its lowest level since early 2024. Worse still, its enterprise mNAV has officially slipped below 1.
This means the market now values the firm at less than the actual Bitcoin it holds. Strategy currently holds 847,363 BTC. Its average purchase price is, however, around $75,646. The firm is approximately $13 billion in the red as Bitcoin struggles around $60,000.
Some critics, such as Ripple CEO Brad Garlinghouse, say that this model is too reliant on financial engineering and not utility. On-chain analytics firm CryptoQuant has even advised Strategy to step back from its purchase spree and rebuild its money reserves.
Saylor Teases More Bitcoin Buy
Despite the massive unrealized losses, Saylor remains characteristically unfazed. On Sunday morning, he posted Strategy’s signature orange-dot acquisition chart on X. He captioned it with a familiar phrase: “We’re gonna need more charts.”
Historically, this exact graphic serves as Saylor’s green light for an upcoming purchase disclosure. Wall Street expects an official SEC 8-K filing to follow shortly. If confirmed, this move would mark Strategy’s fourth consecutive week of buying Bitcoin.
It sends a clear message to the market. Strategy views this deep market dip as a massive buying opportunity rather than a reason to panic.
Bulls and Bears Struggle for $60K Support
The support from Saylor comes against the backdrop of macroeconomic pressure for Bitcoin. BTC price has struggled around the $60,000 support, recently dipping to $59,700, after a major de-escalation of geopolitical tensions involving Iran.
This traditional market optimism failed to lift Bitcoin price in a dramatic way, as we have seen in the past. Bitcoin price now stands at around $60,600 after recovering above the key support today, per CoinMarketCap.
Bulls and bears are locked in a fierce tug-of-war over the $60,000 psychological support level. Retail interest has noticeably shifted away from crypto toward booming artificial intelligence stocks.
BTC Technical Indicators Turn Bearish
A closer look at current technical charts reveals growing trouble for the top crypto. With BTC price reclaiming $60,000 support, Investing.com data show short-term moving averages and technical indicators are improving.
However, the strong sell signal on the daily, weekly, and monthly timeframes tells the full story. Bitcoin price has slipped below its crucial 50-day and 100-day moving averages. This condition heavily favors the bears. Bulls need to continue protecting the $60,000 support, as a breakdown could lead to a correction toward the mid-$50,000 range, as seen on long-term timeframe support.