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{"id":5324,"date":"2023-09-26T08:51:40","date_gmt":"2023-09-26T08:51:40","guid":{"rendered":"https:\/\/lunu.io\/news\/?p=5324"},"modified":"2023-09-26T08:51:42","modified_gmt":"2023-09-26T08:51:42","slug":"why-bitcoins-price-surged-after-microstrategys-big-news","status":"publish","type":"post","link":"https:\/\/lunu.io\/news\/why-bitcoins-price-surged-after-microstrategys-big-news\/","title":{"rendered":"Why Bitcoin&#8217;s Price Surged After MicroStrategy&#8217;s Big News"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Bitcoin&#8217;s Quick Recovery<\/h2>\n\n\n\n<p>Bitcoin experienced a brief dip below the $26,000 mark yesterday. However, it swiftly bounced back after the revelation of MicroStrategy&#8217;s newest Bitcoin acquisition. This week, Bitcoin had reached a 20-day peak of $27,500. Despite maintaining proximity to this level for a while, it faced a decline towards the end of the business week, particularly post the US Fed\u2019s latest FOMC meeting. This led to a decrease in its price to $26,400. However, the start of Monday saw a further decline, taking the cryptocurrency to a 12-day low, just shy of $26,000. This downtrend was interrupted when MicroStrategy publicized its recent Bitcoin procurement valued at nearly $150 million. This announcement spurred a positive reaction in the cryptocurrency, causing it to surge by several hundred dollars.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"485\" src=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-36-1024x485.png\" alt=\"\" class=\"wp-image-5325\" srcset=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-36-1024x485.png 1024w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-36-300x142.png 300w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-36-768x364.png 768w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-36-1536x727.png 1536w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-36.png 1835w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">A Glimpse into the Broader Market<\/h2>\n\n\n\n<p>While Bitcoin remains the focal point, it&#8217;s essential to understand the broader market dynamics. Most altcoins, including Ethereum, Cardano, Binance Coin, Dogecoin, Tron, Polygon, and LEO, have shown modest gains. Ripple, in particular, has seen a 2% increase, positioning itself at $0.5. Other notable gainers include Bitcoin Cash with a 3.6% rise and Chainlink with a 3% increment. The standout performer among the top 100 is MakerDAO\u2019s native token, MKR, which has surged by over 5%, nearing the $1,350 mark. Despite these movements, the total cryptocurrency market capitalization remains relatively stable, hovering around $1.050 trillion.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"459\" src=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-37-1024x459.png\" alt=\"\" class=\"wp-image-5337\" srcset=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-37-1024x459.png 1024w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-37-300x134.png 300w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-37-768x344.png 768w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-37-1536x688.png 1536w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/09\/image-37.png 1878w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Reflecting on the Current Scenario<\/h2>\n\n\n\n<p>From my point of view, MicroStrategy&#8217;s consistent trust in Bitcoin, as evidenced by their recurrent acquisitions, showcases the potential and resilience of the cryptocurrency. This move, especially during a time when Bitcoin was experiencing a dip, not only reinforces the company&#8217;s confidence in the digital asset but also provides a semblance of stability to the market. On the flip side, it&#8217;s crucial to understand that while such purchases can induce short-term positive reactions, the long-term trajectory of Bitcoin and other cryptocurrencies remains influenced by a myriad of factors, including regulatory decisions, technological advancements, and market sentiment. As I see it, while the current market dynamics seem promising, investors should remain vigilant and informed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s Quick Recovery Bitcoin experienced a brief dip below the $26,000 mark yesterday. However, it swiftly bounced back after the revelation of MicroStrategy&#8217;s newest Bitcoin acquisition. This week, Bitcoin had reached a 20-day peak of $27,500. Despite maintaining proximity to this level for a while, it faced a decline towards the end of the business [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5349,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[53,54],"tags":[],"class_list":["post-5324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-crypto"],"_links":{"self":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/comments?post=5324"}],"version-history":[{"count":1,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5324\/revisions"}],"predecessor-version":[{"id":5361,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5324\/revisions\/5361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media\/5349"}],"wp:attachment":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media?parent=5324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/categories?post=5324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/tags?post=5324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}