Bitcoin Slides 5.4% to $75,968 as Crypto-Linked Stocks Get Hammered
MSTR sits 59% above its 52-week low of $81.81.
Summary
Bitcoin dropped 5.40% to $75,968.64 and touched $75,220, its lowest since mid-September, dragging crypto-equity proxies with it. Strategy Inc. closed down 9.29% and Bitmine Immersion fell 12.56%, both worse than the coin itself. The selloff was broad: the Nasdaq fell 5.52% and the S&P 500 4.36% as investors priced in slower AI data-center construction after Democrats took Congress, and roughly $1.2 billion was liquidated from leveraged crypto positions, $1.10 billion of it longs. For Strategy the move matters because its treasury sits near cost basis territory — the last disclosed average cost was $75,385 per coin against 846K BTC, so a sustained break below $75,000 pushes the position toward an unrealized loss after Q3's $20.91 billion mark-up. Analyst Michaël van de Poppe expects a Bitcoin bottom Friday, potentially after sweeping $75,000.
At the time of this announcement, MSTR was trading at $130.15 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $54.6B. The 52-week trading range was $81.81 to $255.36. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.