Post-Crypto Summit, MSTR Stock Dips As Bitcoin Faces Decline

The stock of one of the biggest publicly listed Bitcoin holding companies has seen a massive decrease in prices, and when writing, it was trading at $239.27 with a loss of 18.38% in a week and is down by 28.58% in the past 30 days.

As per data from TradingView, the press time trading price of Strategy, the company chaired by Michael Saylor, is below its 20, 50, 100, and 200 days exponential moving average.

It is worth noting that a back-to-back decline in MSTR stock was observed after the completion of the 1st crypto summit organized at the White House under the administration of Donald Trump.

The recently organized crypto summit was expected to surprise the crypto industry, with many favoring decisions for the broader digital assets. Yet, after the summit, the market did not reflect any significant corrections and is currently below its recent highs.

There were 1000s of claims that the 1st crypto summit, which was held at the White House, might pump Bitcoins prices above $100k; nevertheless, no correction has been observed in the prices.

Source: TradingView Investors pulling funds from companies involved in Bitcoin investment

Vanguard Group Inc. holds 16.3 million shares of MicroStrategy, Capital International Investors holds 5.32% of the company’s total shares, and Morgan Stanley and BlackRock have also held a pile of shares of the Saylor company.

Over the months, it has been reported that some known companies holding Bitcoin saw an outflow in traditional funds invested by private users and investment firms.

However, despite these short-term declines, companies such as Metaplanet and MicroStrategy remain bullish over investing in Bitcoin. The back-to-back buying of BTC from institutional investors has contributed to the growth of crypto adoption worldwide.

Dozens of times, U.S stock market experts have argued that MSTR stock is overvalued and have also termed it a bubble that might burst anytime in the near future. On the other hand, Michael Saylor continues to speak proactively over Bitcoin, terming it gold and has also compared it with several known commodities.

Is Bitcoin trading as per the estimates?

In the past few trading sessions, Bitcoin has continued to fall below, and as of writing, it was trading at $80,601 with a loss of 5% in a day and is down by 13% in the past 7 days, similarly below 20, 50, 100 and 200 days exponential moving average.

Per coordinates, if Bitcoin continues to decline in the following sessions, it is expected to soon face the support of $73,761 followed by $63,721; in case of reversal and changed momentum, BTC’s nearest resistance is $97,805, and the next resistance is $103,600.

Despite declining prices and market cap, the dominance of Bitcoin continues to grow; it is up by 1.19% in a week and is now dominating 61.97% and in growth of 6.30% since the beginning of this year