Strategy (NASDAQ:MSTR) on Monday announced it had bought 1,142 Bitcoin (CRYPTO: BTC) at $78,815 average price for $90 million between February 2 and February 8.

The Latest Bitcoin Purchase

Strategy’s acquisition was funded by selling 616,715 shares of Class A common stock that generated $89.5 million in net proceeds. 

As of February 8, the company held 714,644 BTC with an aggregate purchase cost of $54.35 billion at a $76,056 average cost basis.

Michael Saylor hinted at the purchase in his regular Sunday X post, writing “Orange Dots Matter”.

The buying continues despite a $12.4 billion loss reported in the Q4 earnings.

CEO Phong Le told CNBC that Strategy has “been through Bitcoin…

Read more on Benzinga

Bitcoin (CRYPTO: BTC) has logged its steepest two-week drawdown since June 2022, but Bitwise Chief Investment Officer Matt Hougan says “much of the bad news is already priced in”.

The 6 Crash Factors

Hogan identified six factors driving the crash:

Signs of Exhaustion

On-chain data reveals long-term holders stopped selling aggressively and some are buying.

Open interest on Bitcoin derivatives exchanges fell to 2024 levels. Rate cut expectations are increasing.

Moreover, Sentiment is hovering near historic lows, matching levels that marked crypto bottoms in 2018 and 2022, suggesting the market has already priced in much of the bad news.

Could It Fall Further?

Yes. Previous drawdowns were…

Read more on Benzinga

Bitcoin trades below $69,000, with liquidations at $396.22 million over the past 24 hours.       

Bitcoin ETFs saw $371.15 million in net inflows on Friday, while Ethereum ETFs reported $16.8 million in net outflows.

The meme coin sector dropped about 7% in a single day to $32.8 billion, tracking the broader market decline.

Buy Around The Lows

Crypto trader Jelle said Bitcoin’s bounce from its first major area of interest was constructive, but last week’s close below the 2025 low marked a meaningful shift in market structure.

He cautioned against rushing into positions, noting that long-term entries are best built deliberately as markets typically offer extended time near cycle lows.

Benzinga

Jack Dorsey‘s Block Inc. (NYSE:XYZ) is reportedly telling its employees about potential job cuts during its annual performance review amid broader restructuring.

The fintech company is targeting 10% of its workforce for potential layoffs, reported Bloomberg on Saturday. As per the 10-K filing, Block had nearly 11,372 employees globally.

The company is aiming to integrate its CashApp payment vehicle with its merchant platform Square. At the same time, Dorsey is also focusing on developing the AI tool Goose as well as the company’s Bitcoin (CRYPTO: BTC) initiative called Proto, as per the publication.

Layoffs Loom, But Analyst Predicts Better 2026

The talk of layoffs at Block is not new….

Read more on Benzinga

A few Bitcoin (CRYPTO: BTC) landed in a wallet tied to the network’s mysterious creator, Satoshi Nakamoto, on Friday, sparking a wave of speculation and theories in the cryptocurrency community.

Is Satoshi Really Still Active In Crypto?

A transaction involving 2.5 BTC, worth over $174,405 at the current price, was detected by the on-chain analytics firm Arkham. The BTC landed up in the so-called “Genesis” wallet, i.e, the address that mined the first block on the Bitcoin blockchain.

The wallet has received BTC before. About two years ago, someone sent Satoshi 26.917 BTC, worth more than $1 million.

An X user called Goaty questioned the “Satoshi is alive” narrative pushed by some…

Read more on Benzinga