MicroStrategy Continues Aggressive Bitcoin Acquisition Strategy, Purchases Additional 2,138 BTC for $209M

Bitcoin price today witnessed a slight recovery, rising above the $50,000 level after falling below it on Friday morning. The world’s largest cryptocurrency reached a low of $49,434.7 during the early hours of December 30.

Bitcoin Price Analysis

After opening the day at $49,966.3, BTC price began rallying slowly, reaching a high of $50,683.1 by 09:15 AM (UTC). Bitcoin price later dropped to $50,260 at press time.

Yesterday, BTC price fell sharply after failing to hold above the $51,000 resistance level, reaching a low of $49,434.7 before recovering slightly. The total cryptocurrency market cap also saw a slight decrease, falling to $1.72 trillion, while the total crypto volume over the last 24 hours reached $964.13 million.

On the other hand, decentralized finance (DeFi) total volume over the last 24 hours reached $203.26 million, about 21.08% of the total crypto volume. Meanwhile, stablecoins total volume over the last 24 hours reached $743.26 million, about 77.06% of the total crypto volume.

Bitcoin price analysis chart on December 30, 2023. Source: Kriptokoin.com

Relative Strength Index (RSI) on the 15-minutes chart remained below the 50 level for most of the morning, indicating a bearish momentum in the market.

After beginning the week at $53,666.3, BTC price dropped significantly on Thursday, reaching a low of $48,668.8 before recovering slightly. On Wednesday, Bitcoin price reached a high of $54,088.2, the highest level since December 12.

Bitcoin price performed well in the last seven days, rising by 2.16% and reaching a high of $54,088.2 on Wednesday. However, BTC price also saw some losses in the last 30 days, decreasing by 2.88% and reaching a low of $46,643.3 on December 12.

The Fear and Greed Index also remained in the “Fear” zone throughout the morning.