Bitcoin is showing some strength again after a rough few days.
The price is now close to $79K. It is up more than 2.5% from Friday’s low. This recovery came after the Fed Chair gave a hawkish speech at Jackson Hole.
Michael Saylor also posted “We’re Back” on X. Many people see this as a sign that Strategy may have bought Bitcoin again. If true this could be the company’s first Bitcoin purchase since June 22.
Strategy had recently focused more on building cash reserves and managing its preferred stock. Now that its cash position looks stronger the company may have more room to buy Bitcoin again.
Bitcoin dominance has also risen by almost 4% from its June low. This shows that Bitcoin is holding up better than much of the wider crypto market.
For now I am watching whether this strength can continue in the coming days.
$ONG $ETH $BTC
The price is now close to $79K. It is up more than 2.5% from Friday’s low. This recovery came after the Fed Chair gave a hawkish speech at Jackson Hole.
Michael Saylor also posted “We’re Back” on X. Many people see this as a sign that Strategy may have bought Bitcoin again. If true this could be the company’s first Bitcoin purchase since June 22.
Strategy had recently focused more on building cash reserves and managing its preferred stock. Now that its cash position looks stronger the company may have more room to buy Bitcoin again.
Bitcoin dominance has also risen by almost 4% from its June low. This shows that Bitcoin is holding up better than much of the wider crypto market.
For now I am watching whether this strength can continue in the coming days.
$ONG $ETH $BTC
