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Bitcoin sinks to $59,000 with MSTR below $100, Joe Consorti notes

Bitcoin sinks to $59,000 with MSTR below $100, Joe Consorti notes
Bitcoin and MSTR hit new lows

Joe Consorti highlights that Bitcoin experienced a sharp decline to $59,000 and MSTR dropped below $100, with STRC moving to $80.

Despite the heightened market volatility and louder panic, Consorti emphasizes there is no systemic risk to Bitcoin itself, and Strategy is not expected to be forced into selling its holdings. He suggests that growing hysteria in the market could indicate that a price bottom is approaching.

Earlier, Consorti noted that Bitcoin’s decline has coincided with a $19 trillion surge in AI market cap as liquidity moves to new IPOs. He has also discussed that falling oil prices and easing inflation may lead to U.S. rate cuts, with Bitcoin expected to react ahead of the official policy change. These observations follow continued volatility in cryptocurrency and related equities.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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