Bitcoin (BTC) broke below the psychologically important $90,000 level for the first time in 210 days, fueling fear across the crypto markets dubbed “Black November.”
The downturn followed a retreat in expectations for a December Federal Reserve rate cut and a tumble in AI-related equities, pressuring risk assets broadly.
Ethereum, Solana and other major altcoins declined about 5–10%.
Strategy Inc., the largest Bitcoin holder, disclosed an add-on purchase of 8,178 BTC for roughly $835.6 million in cash, at an average price of about $102,171 per BTC.
With this latest buy, Strategy’s total BTC holdings rose to 649,870 BTC.
Bitcoin was trading around $89,900 in early Asia trading, after briefly dipping to about $89,700 earlier in the session.
Bitcoin’s all-time high of $126,199 was reached on November 6, and about 43 days later the price was down roughly 30%.
Analysts noted that Strategy’s average purchase price sits well above the current level, signaling a “watered” approach to accumulating BTC.
The purchase occurred even as the price sagged, suggesting a long-term hodl stance.
Market participants remain cautious about the near-term outlook, even as the largest BTC holder continues to accumulate.
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