Bitcoin falls, even as Strategy buys $835.6M for its holdings

Despite a significant investment of $835.6 million by Strategy into Bitcoin, the cryptocurrency has experienced a sharp decline, down 10.32% over the past week. This downturn comes amid a broader market slump following the longest government shutdown in U.S. history. While gold has seen a modest gain of 1.79%, both the S&P 500 and Nasdaq 100 have seen slight dips of 0.21% and 0.57%, respectively. The performance of altcoins has mirrored Bitcoin's decline, with only the Real World Assets (RWA) and no-revenue indices showing improvements. Notable poor performers include the Solana ecosystem and crypto miners, with specific tokens like MPLX and JTO declining significantly. In market strategies, MSTR's recent Bitcoin purchase highlights a struggle as its net asset value (NAV) falls below 1, potentially hindering future acquisitions. Despite this, Solana revenue has maintained a lead over Ethereum, although overall market share has decreased. These dynamics illustrate a challenging environment for cryptocurrencies amidst regulatory pressures and economic uncertainties.

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