Bitcoin Drops Below $88K as Michael Saylor Signals Another Buy

Bitcoin faced renewed selling pressure over the weekend, dropping to around $87,600 on Sunday and marking its lowest level in the past two weeks. This late-Sunday decline has become a recurring pattern in recent weeks. Despite the pullback, Bitcoin managed to recover above $89,000 at the time of writing.

Amid the price drop, Michael Saylor, chairman of Strategy, hinted at another Bitcoin purchase by posting “Back to More Orange Dots” on X, alongside the company’s portfolio chart. Strategy’s most recent major acquisition took place on December 12, when it purchased 10,624 BTC, its largest buy since late July. The firm currently holds 660,624 BTC, valued at approximately $58.5 billion, with an average purchase price of $74,696 per coin.

On the macro side, some analysts attribute the latest selling pressure to expectations surrounding Japan’s monetary policy. Speculation is growing that the Bank of Japan is preparing to raise interest rates, a move that has historically coincided with sharp Bitcoin corrections. According to Polymarket data, there is a 98% probability that the central bank will hike rates by 0.25% on Friday.

However, not all market participants agree that this will have a lasting impact. Several analysts argue that the potential rate hike is already priced in, as markets tend to move in anticipation of events rather than react after they occur. From this perspective, Bitcoin is likely to remain range-bound between $80,000 and $100,000 unless a strong new catalyst emerges to define the next major trend.