MicroStrategy Sells 1,638 BTC, Books $18.77M Loss Amid Bearish Market Sentiment
MicroStrategy, a well-known player in the cryptocurrency space, has made another significant move. The company sold 1,638 BTC (Bitcoin) at around $63,957 last week, resulting in an $18.77 million realized loss.
The sale brings MicroStrategy's total Bitcoin holdings to 842,138 units, valued at approximately $526.84 billion. Notably, the average cost of these holdings is now $75,419 per BTC, with an unrealized loss of over $10.82 billion.
BitMNR, another entity mentioned in the source, has been expanding its Ethereum (ETH) portfolio. It recently added 10,399 ETH at a price of around $1,909, bringing its total holdings to 5,797,813 units valued at over $106.74 billion. The average cost of these holdings is now approximately $3,371 per ETH, with an unrealized loss of over $8.87 billion.
The market's current sentiment is bearish, as indicated by the Bollinger Bands and Moving Averages (MA) analysis. The MACD death cross at -291.15 and a neutral RSI of 41.75 suggest further downward pressure on Bitcoin prices before any potential relief in the crypto market.