Bitcoin experienced a sharp sell-off over the weekend, plummeting over 7% and liquidating approximately $800 million in positions. The drop pushed BTC price below $78,000, nearing its April 2025 low, and caused it to fall below a key metric known as the true market mean. The decline also placed the massive Bitcoin holdings of corporate firm Strategy underwater relative to its aggregate purchase cost.
Bitcoin collapsed during weekend trading, with losses accelerating in thin liquidity conditions. The move liquidated around $800 million and took BTC price below $80,000 for the first time since April 2025.
At the time of reporting, BTC/USD traded below $78,000. Analyst Keith Alan, cofounder of trading resource Material Indicators, reacted by noting that a key local low had been annihilated.
Bitcoin also lost its true market mean, which is the aggregate cost basis for the current active BTC supply. Analyst On-Chain College stated this was not good for short to medium term price action.
The price action now threatens the cost basis of major corporate holder Strategy. The firm’s massive treasury of over 700,000 BTC dipped into the red versus its aggregate cost basis of $76,037.
Strategy‘s stock price has tumbled nearly 70% from its local highs in July last year. Data showed its share price at $143 following the crypto market decline.
