Strategy · Bitcoin · Cointelegraph
Today in crypto, Strategy's latest Bitcoin purchase pushed its holdings to 846,842 Bitcoin
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Bitcoin’s continued recovery is hinged on a successful peace deal between the US and Iran as Swissblock shows on-chain metrics signal the cryptocurrency remains weak despite its recent recovery.
Key facts
- Strategy acquired 1,587 Bitcoin (BTC) for $100 million between June 8 and 14, according to Monday's 8-K filing with the US Securities and Exchange Commission
- The purchase was made at an average price of $63,024 per Bitcoin, bringing the company’s overall average cost basis slightly lower to $75,656
- With the latest buy, Strategy now holds 846,842 BTC, accumulated at a total cost of $64.07 billion
- LVRG Research director Nick Ruck told Cointelegraph that despite Bitcoin (BTC) reclaiming $67,000 on Monday, its “momentum remains weak, with declining volume and stagnant on-chain metrics indicating that the recovery lacks conviction and could quickly fade
Summary
Today in crypto, Strategy's latest Bitcoin purchase pushed its holdings to 846,842 Bitcoin, as the cryptocurrency’s continued recovery hinges on a successful deal between the US and Iran. LVRG Research director Nick Ruck told Cointelegraph that despite Bitcoin (BTC) reclaiming $67,000 on Monday, its “momentum remains weak, with declining volume and stagnant on-chain metrics indicating that the recovery lacks conviction and could quickly fade.” Swissblock said on Monday that Bitcoin’s price momentum, measuring the strength of its price movements, and on-balance volume (OBV), which measures buying and selling pressure, remain in a “weak momentum and participation regime.