Bitcoin hovered below $65,000 on Monday as persistent selling pressure and tighter liquidity kept market sentiment cautious. Price action has remained fragile in recent weeks, with rebounds failing to build sustained momentum while volatility stays elevated.
Bitcoin Slides Below Key Weekly Averages
BTC’s weekly structure has weakened after failing to hold the $90,000–$100,000 region earlier this cycle. The latest weekly close near $66,000 left the asset decisively beneath the 50-week and 100-week moving averages, both of which are starting to slope lower. These averages served as dynamic support during the 2024–2025 advance; their loss now turns them into overhead resistance that may cap rallies unless reclaimed with strong volume.
Volume expanded during the recent breakdown from the $90,000 area to below $70,000, a pattern consistent with distribution rather than low-liquidity drift. The 200-week moving average, tracking in the mid-$50,000s, remains the last major support on this timeframe. For bullish momentum to reassert, analysts generally look for a decisive reclaim of the $75,000–$80,000 range and a return to higher weekly highs.
CryptoQuant: StrategyB Extends Multi-Year Bitcoin Accumulation
A recent report from on-chain analytics firm CryptoQuant highlights ongoing, large-scale Bitcoin purchases by StrategyB — described in the report as the rebranded MicroStrategy — more than six years after the company began its accumulation program. Led by executive chairman Michael Saylor, the initiative has targeted roughly 5% of Bitcoin’s supply over time and has relied on a dollar-cost averaging approach without reported sales since inception, according to the report.
CryptoQuant’s data indicates annual investment totals of:
- $1.1 billion in 2020
- $2.57 billion in 2021
- $276 million in 2022
- $1.9 billion in 2023
- $21.9 billion in 2024
- $22.4 billion in 2025
- $4.1 billion so far in 2026
The report adds that 2025 was a record year, with more than $22.4 billion deployed, and that 2026 is tracking on a similar trajectory. StrategyB is reported to hold about 717,131 BTC — roughly 3.4% of circulating supply — with an estimated realized price near $76,000, representing the firm’s average acquisition cost across its holdings.
Interpreting The Data
While trading below a major holder’s realized price can draw attention, realized price is a cost-basis metric, not a valuation model. Price direction remains primarily driven by broader market conditions, liquidity flows, and macroeconomic variables. The broader takeaway from the CryptoQuant report is that even large institutional participants often lean on relatively simple accumulation strategies such as dollar-cost averaging; whether that approach proves optimal depends on risk tolerance, time horizon, and market context.
Outlook
- Resistance: The 50-week and 100-week moving averages overhead, plus the $75,000–$80,000 zone, are key areas bulls would need to reclaim with volume to restore momentum.
- Support: The 200-week moving average in the mid-$50,000 range remains the primary longer-term support.
- Market tone: Elevated volatility, heavier volumes on declines, and ongoing macro uncertainty favor a cautious stance until trend strength improves.