Michael Saylor Remains Positive

bitcoin dropped at $64K: Michael Saylor Remains Positive

Introduction

Michael Saylor’s Unwavering Support

I nominate this person as one of my favourite online personalities because of his full-blown belief in Bitcoin.
It is not condemned to remain at that level, because Michael Saylor wants nothing more than to Bitcoin. When Bitcoin’s value fell to $64,000 and as changes on X (formerly Twitter) about this. Saylor reiterated his belief in the leading cryptocurrency. Such as when he tweeted, “We love the coin,” it is a sign of him not being affected by the fluctuation of the market or can be seen as him being bullish.

MicroStrategy’s Bitcoin Holdings

It is, however, under Saylor that MicroStrategy has amassed a rather big number of Bitcoins. So as on June 20, the company owns 226,331 Bitcoins for which it paid around $8.33 billion at an average proce of $36,798 per Bitcoin. This much investment is proof of how passionate Saylor is now in Bitcoin as a currency of the future.

Michael Saylor expressing optimism about Bitcoin price dropped.

Market Reactions and Liquidations

Effect of the Fed’s choice: a fundamental rate

The most recent drop in the value of Bitcoins was witnessed soon after the Fed decided that its benchmark interest rate was not going to change. Speaking for the Federal Reserve, its chairman, Jerome Powell, said that even though the body is yet to decide on the possibility of reducing the benchmark interest rate in the next meeting of September, the overall feeling is that the cutting of the cost of borrowing is slowly gaining the upper hand.

Crypto Market Liquidations

This caused a severe response in the crypto market which decreased to $230. 95 million in liquidations within a 24-hour period on the basis of figures provided by CoinGlass. The prices went down, the longs, those holding the optimistic view that prices will rise, got it wrong, and their total exemplary liquidations were $208. 01 million. Short positions were also forced to liquidations at $22. 95 million.

Ethereum and Bitcoin Liquidations

The exchange showed Ethereum drummed up the most liquidations with $54.64 million of long positions, and Bitcoin came second with $51.64 million. These ratios depict the effect of market volatility among the traders.

Disclaimer: The information provided by CryptopianNews is for educational and informational purposes only. It should not be considered financial or investment advice. Cryptocurrency markets are highly volatile and speculative, and investing in them carries inherent risks. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

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