Strategy (formerly MicroStrategy) just bought 20,356 more Bitcoin, per an announcement from Michael Saylor. This is the company’s largest purchase in over two months, but its stock price has been dropping.

Strategy has been funding these acquisitions through multibillion-dollar stock sales, which are apparently shaking confidence in the company. If Bitcoin’s own price doldrums continue, it could have a severely negative impact on the firm.

Saylor Keeps Buying Bitcoin

Strategy, which recently rebranded from MicroStrategy, has once again extended its lead as one of the world’s largest Bitcoin holders. Earlier today, the firm completed a $2 billion stock offering, and Michael Saylor just announced that the proceeds are being used on Bitcoin acquisitions.

“Strategy has acquired 20,356 BTC for $1.99 billion at $97,514 per bitcoin and has achieved BTC Yield of 6.9% YTD 2025. As of February 23, we hold 499,096 BTC acquired for ~$33.1 billion at ~$66,357 per bitcoin,” Saylor claimed.

Today’s acquisition is the firm’s largest purchase in over two months. Despite the outward bullish appearance, however, some concerns are beginning to surface.

Saylor has continued these massive Bitcoin purchases for months, but there were multiple significant pauses in February. Despite the latest purchase, the company’s stock MSTR has underperformed so far this year.

There are likely a few reasons why MSTR has seen a decline in the stock market. Last year, MicroStrategy’s stock performance showed a clear correlation with Bitcoin’s market growth.

However, Bitcoin’s own price has suffered recently thanks to bearish market conditions, and this hasn’t helped Saylor’s company.

More to the point, these massive stock sales are impacting Strategy itself. For example, the firm carried out another $2 billion sale in January, and today’s sale included another optional offering of up to $300 million.

Strategy also launched a new perpetual security, diversifying its offerings. BlackRock alone holds 5% of the company, a clear signifier of how much stock the firm has sold.

Rumors have been building that these Bitcoin purchases may be creating a tax dilemma, and Saylor seems content to keep plowing ahead with acquisitions.

Overall, Saylor is still looking at the long term. Offloading huge quantities of shares is visibly impacting MSTR. Yet, this could significantly change when Bitcoin enters another bullish cycle.

Previously, BeInCrypto analysts noted that BTC supply on exchanges has plummeted to 2.5 million, which means a supply shock is imminent. MicroStrategy or Strategy’s continued purchases could add to this pressure.

Onyxcoin (XCN) is down 19% in the last seven days and over 35% in the past 30 days, reflecting strong bearish momentum. Its market cap reached $1.4 billion on January 26 but has since dropped to $572 million.

Despite a brief recovery, its RSI has now fallen to 41.8, signaling weakened buying interest. With the ADX at 25.2 confirming a strong downtrend, XCN faces critical support at $0.014, while a potential reversal could target resistance at $0.0229 and beyond if bullish momentum returns.

Onyxcoin RSI Is Down After Reaching 55

XCN’s RSI is currently at 41.8, after rising from 29.6 two days ago to 55.4 yesterday, indicating increased volatility in market momentum. RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.

An RSI above 70 suggests an asset is overbought, indicating potential selling pressure. Meanwhile, an RSI below 30 suggests it is oversold, potentially signaling buying opportunities. An RSI between 30 and 70 is generally considered neutral, reflecting normal market fluctuations.

XCN’s RSI dropping from 55.4 to 41.8 after a sharp rise from 29.6 indicates a shift from bullish to bearish sentiment. This decline suggests that buying momentum has weakened, increasing selling pressure. If the RSI continues to fall toward 30, the altcoin could face further downward movement.

However, if the RSI stabilizes above 40, it could indicate consolidation before the next price move.

XCN ADX Shows the Downtrend Is Still Strong

XCN’s ADX is currently at 25.2, rising from 13.9 three days ago and peaking at 27 a few hours ago, indicating a strengthening trend. The Average Directional Index (ADX) measures the strength of a trend without indicating its direction, ranging from 0 to 100.

An ADX below 20 suggests a weak or non-existent trend, while a value above 25 indicates a strong trend. A rising ADX confirms increasing trend strength, regardless of whether the price is moving up or down.

With XCN currently in a downtrend, an ADX of 25.2 indicates that selling pressure is still strong, potentially leading to further price declines. If the ADX keeps above 25, it would confirm the downtrend’s momentum.

Conversely, if the ADX starts to decline, it could indicate weakening bearish pressure and the possibility of consolidation. The current ADX level signals caution, as the downtrend shows no signs of reversal yet.

Can Onyxcoin Recover The Good Momentum From The End of January?

If the downtrend continues, XCN could test the support at $0.014, a critical level that could determine its next move.

A break below this support would indicate increased selling pressure, potentially pushing Onyxcoin price below $0.010 for the first time since mid-January.

Conversely, if the trend reverses, XCN could test the resistance at $0.0229. Breaking above this level could trigger buying interest, pushing the price towards $0.0339 and potentially $0.040.

If XCN can regain the strong uptrend it experienced at the end of January, when it was one of the most trending altcoins in the market, it could reach levels around $0.049.

The crypto market has resumed its downtrend, shedding $40 billion in market capitalization over the past 24 hours. 

Amid the broader sell-off, some altcoins have stood out as the most searched assets over the past day. They include Solana (SOL), Berachain (BERA), and Shadow (SHADOW). 

Solana (SOL)

Solana is a trending altcoin, extending its price decline for another consecutive day. Trading at a year-to-date low of $158.88 at press time, SOL price is down almost 10% in the past 24 hours. 

SOL’s decline has pushed its price below a long-term ascending parallel channel for the first time since June 2023. This channel forms when an asset’s price consistently moves between two upward-sloping parallel trendlines, signaling a buy trend.

However, SOL’s break below this pattern confirms rising selling pressure, potentially leading to further declines if the asset fails to reclaim the channel. In this scenario, the altcoin’s price could drop to $136.62.

Conversely, if coin accumulation resumes, it could drive SOL’s value up to $220.58.

Berachain (BERA)

Layer-1 (L1) coin BERA is another asset trending today. As of this writing, it trades at $6.94, down 5% over the past 24 hours. 

However, a look at its performance on an hourly chart reveals a steady uptick in BERA’s demand, hinting at a potential rebound in the near term. For example, its Relative Strength Index (RSI) has broken above the center line and is in an upward trend at press time. 

This indicator measures an asset’s oversold and overbought market conditions. When set up this way, it signals a potential shift toward stronger buying pressure. This suggests that BERA buyers are gaining control, increasing the likelihood of a price rebound. In this case, BERA’s price could climb to $8.62 and rally toward its all-time high of $15.50.

On the other hand, if the decline continues, the coin’s price could fall to $5.44.

Shadow (SHADOW)

SHADOW has bucked the broader market trend, climbing by 34% over the past day. It trades at $160.27 at press time and is poised to extend these gains.

The token’s rising on-balance volume (OBV) on its hourly chart supports this bullish outlook. This momentum indicator measures an asset’s cumulative buying and selling pressure by adding volume on up days and subtracting volume on down days. 

When it climbs, it indicates strong buying interest. This suggests that SHADOW’s price may continue to rise as demand increases. If this happens, it could break above the resistance at $162.44 to reach $210.55.

However, SHADOW could lose recent gains and fall to $132.68 if demand stalls.