MicroStrategy Surges to 6-Month High as Bitcoin Wrestles With Key Moving Average
Bitcoin (BTC) fell to $62,800 from nearly $64,000 during Monday's U.S. trading session, coinciding with a significant drop in the stock market. The S&P 500 and Nasdaq each declined over 1%, while the volatility index VIX surged 19%. Bitcoin later recovered to $63,300, up 0.7% over 24 hours but down nearly 2% from its daily high. Ether (ETH) experienced minor losses, while tokens like Near Protocol (NEAR), Uniswap (UNI), and Aptos (APT) gained 5%-8%. Over $210 million in leveraged positions were liquidated across digital assets. A U.S. judge approved FTX's bankruptcy plan, aiding crypto recovery. Bitcoin briefly reclaimed the 200-day moving average but failed to maintain it. Increased odds of Donald Trump winning the presidential election correlated with Bitcoin's recent rise. MicroStrategy (MSTR) shares surged to $190, closing 5.5% higher, potentially prompting further debt issuance for Bitcoin acquisition.
