Bitcoin Updates: Crypto Confidence Wavers—Saylor Calms Fears as Bearish Trends Persist

Michael Saylor, the chairman of

Inc. (NASDAQ: MSTR), has refuted circulating rumors that the company offloaded part of its reserves, calming fears in the market after $5.7 billion worth of cryptocurrency was moved to new wallets. These rumors, , briefly caused shares to tumble and increased the likelihood of a Bitcoin sale on prediction markets such as Polymarket. Saylor during a CNBC interview on Friday, reaffirming the firm's ongoing commitment to acquiring Bitcoin and hinting at further purchases to be revealed on Monday.

The transfers, which saw 43,415 BTC sent to over 100 different wallets, were

as standard custody management rather than asset liquidation. Nonetheless, the confusion highlighted rising concerns among investors about Strategy's financial stability. The company's shares ended Thursday at $208.54, a 7.2% drop, with a market capitalization of $59.92 billion—now reflecting a 1.24x compared to its $61.3 billion in Bitcoin assets. caution that this ratio could drop to 0.2 unless Saylor decides to sell Bitcoin to support the share price.

The broader Bitcoin market also experienced turbulence. The cryptocurrency hovered near its 50-week simple moving average (SMA) at $97,000,

as a sign of ongoing momentum. At the same time, on Thursday, marking the second-largest daily withdrawal since their inception as institutional interest declined. , warned that risk managers may enforce more portfolio adjustments, which could worsen Bitcoin's lag behind assets like gold and technology stocks in 2025.

Corporate Bitcoin accumulation also slowed dramatically in October,

—a 60% decrease from September—according to BitcoinTreasuries.net. Strategy, which owns 641,692 BTC or 60% of all corporate-held Bitcoin, has shifted from using convertible debt to preferred equity for funding its purchases, . The company's leading position has been challenged as firms like Japan's Metaplanet have continued to buy BTC despite declines in their stock prices .

This situation underscores the delicate balance between institutional trust and market rumors. While Saylor's statements helped ease immediate concerns, the larger crypto market remains bearish,

from 80 to 20 in October. As ETF outflows continue and long-term holders keep selling, Bitcoin's recovery will depend on regaining crucial technical levels and restoring confidence in corporate Bitcoin strategies.