MSTR slipped 0.41% after-hours after closing down over 6% Friday. On Stocktwits retail sentiment stayed in the ‘extremely bearish’ zone.
- Michael Saylor hinted at Bitcoin purchases on Sunday, alongside a chart showing Strategy holds 843,706 Bitcoin worth about $52.2 billion.
- CryptoQuant analyst Darkfost said cumulative realized losses since Bitcoin’s October peak have reached about $174 billion, though still below the $211 billion recorded during the previous bear market.
- Crypto analyst Benjamin Cowen argued Bitcoin has entered the third stage of a bear market after breaking below its February low.
Strategy (MSTR) Executive Chairman Michael Saylor signaled a potential new Bitcoin (BTC) purchase on Sunday, posting “a good time to add more dots” alongside a chart tracking the company’s Bitcoin accumulation strategy.
The chart shared by Saylor showed the company holding 843,706 Bitcoin worth over $52 billion. The chart showed that the Bitcoin holdings were acquired at an average cost of $75,701 per coin, implying an unrealized loss of over $11 billion, or about 18%, based on the figures displayed.
Saylor has frequently posted similar charts ahead of Strategy’s Bitcoin purchase announcements. This came after growing criticism that followed Strategy’s Bitcoin sale last week.
MSTR’s stock was down by 0.41% during after-hours trading, after closing down over 6% on Friday. On Stocktwits, the retail sentiment around MSTR remained in the ‘extremely bearish’ zone, while chatter around it shifted to ‘high’ from ‘extremely high’ levels over the past day.
Bear-Market Losses Continue To Mount
The post came as on-chain data suggested the current Bitcoin downturn has already generated substantial losses for investors.
CryptoQuant analyst Darkfost said on Sunday that cumulative realized losses since Bitcoin’s October peak have reached approximately $174 billion. Realized losses are calculated based on coins sold below their acquisition price and are often used to measure the intensity of market capitulation.
According to the analyst, the figure remains below the roughly $211 billion recorded during the previous bear market, suggesting the current cycle has not yet matched the scale of losses seen during the 2022 to 2023 downturn.
Darkfost said the comparison could indicate that further market purging remains possible if weakness persists, though he noted the interpretation remains subjective.
Crypto analyst Benjamin Cowen also argued that Bitcoin has entered “the third stage of a bear market” after falling below its February low. Cowen said the phase is characterized by a growing consensus that the market is in a downturn, adding that bear markets often end only after most participants accept that reality.
Bitcoin’s price was trading at $61,737, up over 1% during the last 24 hours. On Stocktwits, the retail sentiment around BTC stayed in the ‘extremely bearish’ zone, while chatter around it stayed in the ‘high’ levels over the past day.
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