Bitcoin price flat at $62,600 despite Strategy's $101M BTC purchase as markets await Fed data
By
Omkar Godbole, Shaurya Malwa
9h ago· 5 min readenNews
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Summary
Bitcoin's price remained stagnant near $62,600 despite Strategy (MSTR) purchasing 1,550 BTC for $101 million, bringing its total holdings to 845,256 coins. The market showed little reaction to the purchase as risk-averse investors await U.S. inflation data and next week's Federal Reserve meeting. The recovery stalled after a brief 4% bounce on Sunday that pushed prices above $64,000 on some exchanges.
Key quotes
· 3 pulledThe recovery in bitcoin BTC$63,271.85 stalled Tuesday even after Strategy (MSTR) bought more of the largest cryptocurrency following its end-May sale.
Bitcoin was recently trading near $62,600, little changed from Monday.
Strategy, the largest publicly listed bitcoin holder, said Monday it had bought 1,550 BTC for $101 million, bringing its total stockpile to 845,256 coins.
Bitcoin is little changed despite a new purchase by Strategy as risk-averse investors await U.S. inflation data and next week’s Fed meeting.
