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Bitcoin price fell toward $73,500 on Nov. 9 as leveraged liquidations intensified across cryptocurrency markets. BTC also closed below its 50-week moving average, raising concerns about further losses.
Meanwhile, Strategy and Strive disclosed combined purchases of 1,065 BTC worth approximately $84.1 million.
Their acquisitions continued despite declining prices and heavy withdrawals from U.S. spot Bitcoin exchange-traded funds (ETFs).
Bitcoin Price Falls as Liquidations Approach $300M
Bitcoin price fell 3% over the past week, briefly dropping to around $73,500. Meanwhile, Bitcoin liquidations reached $297.17 million in the past 24 hours. Long positions accounted for more than 92% of that figure.
Bitcoin crypto also lost a closely watched technical level. The cryptocurrency closed the week below its 50-week moving average, near $75,488, after spending seven weeks above that line.
Market data showed that spot Bitcoin exchange-traded funds recorded $1.28 billion in net outflows during the preceding week. Those withdrawals occurred before Monday’s drop below $74,000.
Strategy Buys 1,036 Bitcoin and Repurchases STRC Shares
Strategy disclosed its latest purchase in a November 9 regulatory filing. The company bought 1,036 BTC between November 2 and November 8, paying an average of $79,012 per coin. Its total Bitcoin holdings reached 850,364 BTC, acquired for about $64.16 billion. The company reported an average purchase price of $75,456 across its treasury. Bitcoin traded below that average when prices approached $74,800 on Monday.
Strategy raised $283.8 million through sales of approximately 2.05 million MSTR common shares. The company directed $81.9 million toward Bitcoin and $188.3 million toward buying back 1,887,464 STRC preferred shares. It added the remaining $13.6 million to general dollar cash.
Strategy also reported a $4.77 billion dollar reserve that supports preferred dividends and debt interest.
Strive Adds 29 BTC as Corporate Holdings Reach 43,153
Strive reported a smaller Bitcoin purchase in a recent filing. The company acquired 29 BTC between October 31 and November 6 at an average price of $75,721. The transaction cost about $2.2 million. Strive’s BTC holdings increased from 43,124 BTC to 43,153 BTC, according to the company’s disclosure.
The filing listed $487.6 million in cash and cash equivalents as of November 6, down from $490.4 million one week earlier. Strive also held 505,000 Strategy STRC preferred shares with a reported fair value of $50.4 million.
Strive’s latest Bitcoin acquisition followed a 124 BTC purchase during the preceding week. Both companies increased their Bitcoin holdings while BTC traded below their latest average acquisition prices.
Bitcoin Price Prediction Focuses on $70,000 Support
Bitcoin price decline placed the $70,000 level under scrutiny. A further Bitcoin price move below $73,500 would bring that support level closer.
The $75,488 50-week moving average now provides a reference point for any recovery. According to Bitcoin price prediction, a weekly close above that line would put BTC crypto back over the indicator after its recent decline.
Galaxy research head Alex Thorn examined earlier occasions when Bitcoin price fell below its 50-week average after regaining it. He cited recoveries in 2012 and 2019–2020, when earlier market lows held on a weekly closing basis.
This article provides market information, not financial advice. Cryptocurrency prices are volatile, and technical forecasts do not guarantee returns. Readers should conduct independent research and consult a qualified financial professional before making investment decisions.
