Michael Saylor’s (NASDAQ:MSTR) strategy has paused its Bitcoin acquisition once again. In a social media post, Saylor confirmed that the company did not purchase any Bitcoin this week, which negatively impacted market sentiment.
Michael Saylor announced “no buying Bitcoin” this week
In a post on While his sharing of the chart often signals a new Bitcoin acquisition, this time things were different.
After four weeks of continuous Bitcoin buying, the strategy halted its spree. “No buying this week,” Saylor wrote on X. However, all was not in vain, as he hinted at future buying in the coming week.
he He added“Back to work next week.” Currently, the company’s Bitcoin holding is worth $64.44 billion per chain Encryption tools.
Earlier, the company She earned $255 million in Bitcoin Last Monday. This purchase brought her total holdings to 818,334 BTC purchased at an average cost of $75,537 per BTC.
At the time, it bought 3,273 Bitcoins at an average price of $77,906 per coin. However, the volume of purchases began to slow at that same point. For context, the company downsized its latest acquisition by approximately 90% compared to Buying $2.54 million worth of Bitcoin On April 20th.
BTC price exceeds $78 thousand
Although the strategy temporarily halts the Bitcoin buy line,… Bitcoin price It remained holding above the key level of $78,000. At the time of writing, Bitcoin is trading at $78,628.93, up 0.38% on Sunday, May 3.
Analysts like Michael van de Poppe have pointed out that the next critical resistance lies at $79,000. In the event of a successful breakout, Bitcoin is expected to enter the resistance area between $86,000 and $88,000.
Moreover, if the price goes higher, the $92,000-$94,000 area will act as another resistance point. Meanwhile, the $75,000 level is currently acting as a major support, which if broken could lead to a significant pullback in Bitcoin price.
