Key Takeaways
- Bitcoin fell beneath $89,000 for the primary time in three months.
- Technique bought $2 billion price of Bitcoin regardless of the dip.
- The Crypto Worry and Greed Index hit 25, signaling excessive concern.
Bitcoin tumbled beneath $89,000 on Feb. 25, marking its lowest worth in three months and triggering widespread market uncertainty.
The drop of over 7% led to renewed calls to “purchase the dip” from outstanding figures.
Notable Reactions
MicroStrategy Govt Chairman Michael Saylor steered one other Bitcoin buy by posting on X:
Bitcoin on $ale.
₿itcoin on $ale
— Michael Saylor⚡️ (@saylor) February 24, 2025
Equally, Eric Trump, son of former President Donald Trump, weighed in with a easy message:
Purchase the dips!!!
The ₿est Recommendation https://t.co/e7b3f8BbyU
— Michael Saylor⚡️ (@saylor) February 25, 2025
Nonetheless, not everybody shared their optimism.
Gold advocate and Bitcoin critic Peter Schiff responded:
Subsequent comes the hearth sale. In the event you’re going to gamble on Bitcoin, you might as properly maintain out for that.
Subsequent comes the hearth sale. In the event you going to gamble on Bitcoin you might as properly maintain out for that.
— Peter Schiff (@PeterSchiff) February 25, 2025
Technique’s newest buy
Regardless of the worth drop, Saylor’s firm, now known as Technique, continued its aggressive Bitcoin accumulation.
On Monday, the agency introduced a $2 billion Bitcoin buy, including 20,365 BTC at a mean worth of $97,514 per coin.
This aligns with the corporate’s “21/21” plan to amass $42 billion price of Bitcoin over three years.
Following its newest buy, Technique now holds 499,096 BTC, valued at $47 billion, making it the biggest company Bitcoin holder with 2.4% of the overall provide.
Market impression
The worth drop wasn’t restricted to Bitcoin.
Ethereum (ETH) fell 10.5% to $2,388, whereas Solana (SOL) declined 13% to $137.87.
Bitcoin’s market capitalization shrank to $1.76 trillion.
The Crypto Worry and Greed Index, which tracks investor sentiment, hit 25, indicating excessive concern available in the market.