Bitcoin Drops to $68,000 as Crypto Market Extends Four-Week Decline
Bitcoin fell on Monday, extending a four-week losing streak across the cryptocurrency market. Ongoing uncertainty around U.S. interest rates has weighed heavily on risk appetite, pushing investors away from speculative assets such as digital currencies.
The world’s largest cryptocurrency briefly climbed toward $70,000 over the weekend before reversing course. By 00:58 ET (05:58 GMT), Bitcoin was down 2.7% at $68,409.7.
Strategy Says No Liquidation Risk Unless Bitcoin Hits $8,000
Strategy Inc. (NASDAQ: MSTR), the largest corporate holder of Bitcoin, stated on Sunday that it can meet its debt obligations even if Bitcoin’s price falls as low as $8,000 per coin.
In a social media statement, the company said it could “withstand a drawdown in BTC price to $8K and still have sufficient assets to fully cover our debt.”
Strategy currently holds 714,644 Bitcoin, having financed its purchases through a combination of capital raises and long-term debt. Led by outspoken Bitcoin advocate Michael Saylor, the firm has continued accumulating the cryptocurrency even as prices have declined.
Bitcoin has now lost roughly 50% of its value since reaching a record high near $126,000 in October. The sharp correction has intensified concerns that Strategy might eventually need to liquidate part of its holdings to service its debt, although Saylor has repeatedly downplayed such risks.
Earlier this month, Strategy reported a $12.4 billion loss for the December quarter, compared with a $670.8 million loss in the same period a year earlier. Outside of its substantial Bitcoin holdings, the company generates relatively limited revenue.
Altcoins Follow Bitcoin Lower
Broader cryptocurrency prices also moved lower on Monday, largely mirroring Bitcoin’s weakness.
Ether, the second-largest cryptocurrency, fell 6.1% to $1,958.63, while XRP declined 7.7% to $1.4575. BNB dropped around 4%, and Solana and Cardano lost 5.4% and 6.2%, respectively.
Among meme coins, Dogecoin plunged 11.4%, while the $TRUMP token slipped 2.4%.
Crypto market sentiment has remained fragile since October, with both retail and institutional inflows slowing significantly. At the same time, a strong rally in gold prices has diverted attention from digital assets, as investors increasingly favor traditional safe-haven investments amid macroeconomic uncertainty.
With interest rate expectations still unclear and risk appetite subdued, cryptocurrency markets remain under pressure in the near term.
