Strategy Buys Again, But Crypto Market Remains Sluggish
Bitcoin moved relatively steadily on Wednesday, as investors remained cautious ahead of a series of US economic data and the release of FOMC meeting minutes that could potentially alter interest rate expectations. This cautious stance has limited interest in speculative assets like crypto.
In the latest update, Bitcoin (BTC) was at $67,154, down slightly by about -0.26% from the previous close.
Sentiment was briefly supported by Strategy Inc., which revealed the purchase of an additional 2,486 BTC worth approximately $168.4 million in the past week, bringing its total holdings to 717,131 BTC (average purchase cost of approximately $67,710/BTC). This purchase was the third in February and was funded through additional share issuance.
However, the market remains cautious as Bitcoin's steep decline from its peak has made investors sensitive to funding issues (share dilution) and potential pressure if volatility increases again. Corporate accumulation strategies helped support sentiment, but were not enough to trigger a broad rally.
Altcoins moved mixed within a narrow range. Ethereum (ETH) $1,977.59 (+0.39%), XRP $1.46 (-0.68%), Solana (SOL) $82.46 (-1.60%), BNB $617.9 (+0.26%), Cardano (ADA) $0.2811 (-0.26%), and Dogecoin (DOGE) $0.1002 (-0.52%).
Looking ahead, the market's focus will be on the Fed minutes and PCE inflation data—as crypto tends to be sensitive to the direction of US interest rates. "Longer higher" signals typically pressure riskier assets, while indications of easing could revive risk appetite.
Source: Newsmaker.id
