Why Is Bitcoin Down? The recent selloff coincides with losses across risk-forward financial assets, including stocks, as the S&P 500 is down 2% over the last week. Catalyzing the

Bitcoin (BTC), after managing to chart an all-new ATH of $107k last week, has taken a hit over the weekend, dipping down to the $92,000 range, before recovering again. Weak inflation figures and US Fed Chair Jerome Powell’s strong stance against crypto is believed to be driving this recent dip.

"These types of things never go on forever and often end poorly," Steve Sosnick said of MicroStrategy's leveraged bitcoin bet.

MicroStrategy Inc., which is set to enter the Nasdaq 100 Index on Monday, announced it had purchased an additional $561 million of Bitcoin at an average price near last week’s record high.

MicroStrategy Incorporated (NASDAQ:MSTR) said on Monday it acquired 5,262 bitcoins at an average price of $106,662 each, using proceeds from the sale of 1.32 million shares, which raised $561 million.