Bitcoin traded toward $73,500 on Nov. 9 as leveraged liquidations intensified across cryptocurrency markets, with BTC closing the week below its 50-week moving average in a development raising concerns about further losses. Against that backdrop, Strategy and Strive disclosed combined purchases of 1,065 BTC worth approximately $84.1 million in regulatory filings, continuing their accumulation despite declining prices and heavy withdrawals from U.S. spot Bitcoin exchange-traded funds (ETFs).

Bitcoin Price Falls as Liquidations Approach $300 Million

Bitcoin fell 3% over the past week, briefly dropping to around $73,500. Liquidations across the cryptocurrency market reached $297.17 million in the past 24 hours, and long positions accounted for more than 92% of that figure, reflecting the pressure on leveraged traders as prices slipped.

The asset also lost a closely watched technical level, closing the week below its 50-week moving average near $75,488 after spending seven weeks above that line. Spot Bitcoin ETFs hold Bitcoin directly and trade on U.S. exchanges, which makes their weekly flows a widely followed gauge of investor demand, and market data showed those funds recorded $1.28 billion in net outflows during the preceding week. The withdrawals occurred before Monday's drop below $74,000.

Strategy Buys 1,036 Bitcoin and Repurchases STRC Shares

Strategy disclosed its latest purchase in a Nov. 9 regulatory filing. The company bought 1,036 BTC between Nov. 2 and Nov. 8, paying an average of $79,012 per coin and lifting its total holdings to 850,364 BTC acquired for about $64.16 billion — a position that makes it the largest corporate holder of Bitcoin. The company reported an average purchase price of $75,456 across its treasury, and Bitcoin traded below that average when prices approached $74,800 on Monday. Weekly filing-based disclosures like this one give investors a running record of corporate treasury accumulation between quarterly reports.

Strategy raised $283.8 million through sales of approximately 2.05 million MSTR common shares. The company directed $81.9 million toward Bitcoin and $188.3 million toward buying back 1,887,464 STRC preferred shares, adding the remaining $13.6 million to general dollar cash. Strategy also reported a $4.77 billion dollar reserve that supports preferred dividends and debt interest.

Strive Adds 29 BTC as Corporate Holdings Reach 43,153

Strive reported a smaller Bitcoin purchase in a recent filing. The company acquired 29 BTC between Oct. 31 and Nov. 6 at an average price of $75,721, a transaction costing about $2.2 million that increased its holdings from 43,124 BTC to 43,153 BTC, according to the company's disclosure.

The filing listed $487.6 million in cash and cash equivalents as of Nov. 6, down from $490.4 million one week earlier. Strive also held 505,000 Strategy STRC preferred shares with a reported fair value of $50.4 million.

The latest acquisition followed a 124 BTC purchase during the preceding week. Both companies increased their Bitcoin holdings while BTC traded below their latest average acquisition prices.

Bitcoin Price Prediction Focuses on $70,000 Support

The decline has placed the $70,000 level under scrutiny, with a further move below $73,500 set to bring that support level into closer view. The $75,488 50-week moving average now provides a reference point for any recovery: according to Bitcoin price prediction, a weekly close above that line would put BTC back over the indicator after its recent decline. Upcoming weekly closes will show which side of those levels the market settles on.

Galaxy research head Alex Thorn examined earlier occasions when Bitcoin fell below its 50-week average after regaining it. He cited recoveries in 2012 and 2019–2020, when earlier market lows held on a weekly closing basis.

This article provides market information, not financial advice. Cryptocurrency prices are volatile, and technical forecasts do not guarantee returns. Readers should conduct independent research and consult a qualified financial professional before making investment decisions.