Bitcoin (BTC) dipped below $118,000 during the ongoing session as the flagship cryptocurrency extended its losses for a third day. BTC is marginally down during the ongoing session, trading around $117,577, with sellers in control.
BTC has been consolidating between $116,000 and $120,000 over the past two weeks, indicating caution as markets wait for the Federal Reserve’s decision on rate cuts.
Strategy Acquires 21,000 BTC After 2025’s Biggest Public Offering
Michael Saylor’s Strategy has purchased 21,021 BTC for $2.46 billion, at an average cost of $117,256 per coin. The latest purchase takes the company’s total holdings to 628,791 BTC, worth over $74 billion at current prices. Saylor announced the latest purchase on X, stating,
“Strategy has acquired 21,021 BTC for ~$2.46 billion at ~$117,256 per bitcoin and has achieved BTC Yield of 25.0% YTD 2025. As of 7/29/2025, we hodl 628,791 acquired for ~$46.08 billion at ~$73,277 per bitcoin.”
The purchase comes after Strategy raised $2.5 billion from its fourth preferred stock, STRC, making it the largest initial public offering in 2025. Strategy raised $2.5 billion through the sale of 28 million Variable Rate Series A Perpetual Preferred Stock (STRC) for $90 per share. The offering was significantly upsized from an initial goal of $500 million. This was the largest IPO in the US in 2025 in terms of gross proceeds, and was twice as large as the $1 billion for stablecoin issuer Circle Internet Group, which went public in June.
The offering is Strategy’s latest use of financial products to purchase Bitcoin (BTC). The Saylor-led company has utilized equity, debt, and convertible notes to fund its purchases and has influenced several other companies to adopt similar strategies.
Twenty One Capital’s Bitcoin Stash Bigger Than Expected
Cantor Fitzgerald-backed Twenty One Capital has increased its Bitcoin holdings, significantly expanding its holdings beyond what was announced at launch. The Bitcoin treasury company added 5,800 BTC from stablecoin issuer Tether, taking its total holdings to 43,500 BTC, around 1,500 BTC more than initially projected. The company’s Bitcoin holdings are worth over $5 billion at current prices. Twenty One Capital is backed by Cantor Fitzgerald, Tether, Bitfinex, and SoftBank. The company’s planned merger with special purpose acquisition company (SPAC) Cantor Equity Partners will allow it to go public.
Crypto Traders Fooling Themselves With Price Predictions
Veteran trader Peter Brandt believes crypto traders who think they can make accurate price predictions are fooling themselves. Brandt stated,
“Anyone who looks at the charts and tries to tell you where anything is going is actually just kind of fooling themselves. There are a lot of people who will argue with me, of course.”
According to Brandt, the only real use of price charts in crypto is checking where the price has been and where it is now.
“In most cases, you can say, probabilistically, a market will pursue the same trend it's been with some volatility within a range.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) extended its losses for a third day, falling below $118,000 during the ongoing session as markets await the Federal Reserve’s decision on interest rates. Analysts and market experts believe the Fed will likely keep interest rates steady when Chair Jerome Powell concludes the two-day Federal Open Market Committee (FOMC) meeting. However, President Trump has put immense pressure on Powell to cut interest rates or resign. BTC and the broader markets have remained relatively flat, preparing for a politically charged day when Powell addresses the media at a scheduled press conference.
Despite the pressure from President Trump, Fed Chair Powell appears set to hold the rates at current levels, especially with inflation at 2.7%, significantly higher than the Fed’s target of 2.0%. Analysts have also pointed out that BTC’s bullish setup remains intact. However, with key macroeconomic catalysts set to impact markets, investors are being cautious.
BTC traded in the red the previous weekend, dropping over 1% on Friday. Sellers retained control on Saturday, with the price registering a marginal decline. The flagship cryptocurrency ended Sunday with a 0.48% drop to settle at $117,240. BTC recovered on Monday, reaching an intraday high of $119,603. However, it could not stay at this level and settled at $117,397, ultimately registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% to cross $119,000 and settle at $119,980. Despite the positive sentiment, it lost momentum on Wednesday, falling 0.99% and settling at $118,794.
Source: TradingView
Sellers retained control on Thursday as BTC registered a marginal decline and settled at $118,381. Selling pressure intensified on Friday as the price plunged to an intraday low of $114,770. However, it rebounded from this level to reclaim $117,000 and settle at $117,565, ultimately dropping 0.69%. BTC recovered over the weekend, rising 0.24% on Saturday and 1.31% on Sunday to cross $119,000 and settle at $119,398. Despite the positive sentiment, the flagship cryptocurrency started the current week in the red, dropping 1.12% to $118,064. Sellers retained control on Tuesday, as the price registered a marginal decline. The current session sees BTC marginally up, trading around $118,531.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
