Bitcoin Holds Steady Amid Corporate Selling and Mining Sector Stress

Bitcoin's price held near $64,900 last week amidst corporate selling and mining sector stress.

The prolonged decline in Bitcoin's value has made it difficult for publicly listed companies to raise fresh capital, leading some firms like Satsuma Technology to restructure their finances or liquidate their BTC holdings.

Strategy, the company with the most Bitcoins, hasn't purchased any new BTC in four weeks and instead sold stocks to increase its cash reserves to $3.2 billion.

The mining sector also faced challenges as Poolin, one of the world's largest Bitcoin mining pools, filed for Chapter 11 bankruptcy protection in the US, listing liabilities between $100 million and $500 million.