Bitcoin Breaches $40K Support as MicroStrategy Denies Offloading Rumours
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The MicroStrategy executive tweeted:
“Not sure who needs to know this, but when $MSTR makes any material change to its corporate strategy (to acquire & #hodl bitcoin), or to its #bitcoin holdings, we disclose this to our shareholders via @SECGov filings, available to all.”
According to recent news publications, the rumors that the software company was offloading its BTC holdings were untrue, and the wallet selling its BTC did not belong to MicroStrategy. Reports claim that the address could belong to a cryptocurrency community exchange.
Regardless, many spectators refuse to reason in the clarifications and argue that the rumors are true.
Michael Saylor has remained one of the most vocal Bitcoin supporters and has repeatedly asserted that he has no plans of selling his coins in the near term, noting that he plans on holding them for a century.
Some months ago, Saylor noted: “I see evidence of a lot more institutional adoption, greater adoption amongst macro and other hedge funds.” Last year, he predicted that Bitcoin could hit $6 million in the long term.
Key Bitcoin Levels to Watch — April 24
Bitcoin has, again, deviated from its upward trajectory following growing expectations of an aggressive rate hike by the US Fed by June. The benchmark cryptocurrency, which was on track to hit the $50K top by month-end, fell towards $39K on Friday and has remained in an unmoving range since.
Considering the current tickers in the market, a bearish continuation to $38.5K is not far off, as bulls shelve plans for $50K to a much later date.
Meanwhile, my resistance levels are at $40,000, $41,000, and $42,000, and my key support levels are at $39,000, $38,500, and $38,000.
Total Market Capitalization: $1.84 trillion
Bitcoin Market Capitalization: $754.3 billion
Bitcoin Dominance: 40.9%
Market Rank: #1
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