Microstrategy executive chairman Michael Saylor hinted at a new Bitcoin purchase following a market drop that briefly pushed the company’s massive holdings into unrealized loss. The broader crypto market sentiment deteriorated, with a key fear index hitting a six-week low, as traditional assets also reacted to political news from the United States.
Microstrategy founder Michael Saylor signaled his firm likely added to its Bitcoin holdings after the cryptocurrency’s price fell over 13% during the weekend. Saylor posted “More Orange” alongside a chart of the company’s purchases, a move he often uses to indicate buying activity.
This would mark the fifth Bitcoin purchase this year for the largest corporate Bitcoin treasury holder. The company owns over 712,647 Bitcoin, acquired at an average cost of approximately $76,040 per coin. Bitcoin’s weekend drop briefly pushed its price below that average cost basis before a partial recovery.
The market decline followed US President Donald Trump’s nomination of a new Federal Reserve chair on Friday. While the nominee, Kevin Warsh, has spoken favorably of Bitcoin, he is viewed as a more hawkish pick likely to favor fiscal restraint. Precious metals and major stock indices also fell significantly after the announcement.
Crypto market sentiment appears to be worsening alongside the price action. Former Binance CEO Changpeng ‘CZ’ Zhao stated he is now “less confident” about a predicted “Bitcoin supercycle.” “Given all the FUD and all the emotions that was stirred up in the community, I’m less confident about it now,” he said.
The Crypto Fear & Greed Index score fell to 14 out of 100, its lowest level in over six weeks. This indicates a significant shift toward fear among market participants following the recent volatility.
