Bitcoin continued its decline below $100,000 as selling by large holders and long-term investors contributed to the weakness. Whales, holding 1,000 bitcoin or more, have been selling steadily, leading to concerns about deteriorating sentiment and slower buying. The largest cryptocurrency fell to $94,519, the lowest since May, down 9.14% for the week. While long-term holders have been selling since December 2024, the market has struggled to absorb the selling, with ETF outflows and a shift in buyer support. The broader macroeconomic environment has also not been supportive, leading to renewed pressure on risk assets, including bitcoin. Bitcoin’s price dropped below $100,000 on Friday, continuing its decline. MSTR, a software company known for its bitcoin investments, announced on CNBC that it has been ramping up its bitcoin purchases. The company currently holds over 640,000 bitcoins, which is over 3% of the total supply. Strategy did not respond to requests for comment. The company will be reporting its purchases on Monday morning.

Read more at Bitcoin drops below $100,000 on Friday – MarketWatch: Crypto ‘whales’ are selling bitcoin as it sinks further below $100,000. Should investors be worried?