Bitcoin Rejected at $76K, Triggering $400M Liquidations; $2B Strategic Buying May Halt Decline

Bitcoin fell to $76,000 on Monday, triggering $400 million in liquidations for bullish positions over a four-day period following a failed attempt to break above $82,000 on Thursday. Despite the 7% decline, recovery toward the $80,000 level remains viable.

Strategy (MSTR US) acquired $2 billion in Bitcoin over the past week and concurrently repurchased $1.5 billion of its senior convertible debt due in 2029, according to the company. Michael Saylor's firm continues to capitalize on market weakness while reducing future dilution for shareholders. Rising US Treasury yields (10-year yield jumped to 4.60%, its highest in 16 months) are driving investors toward scarce assets like Bitcoin as an inflation hedge.