MicroStrategy buys BTC again, but it falls after being included in the index. Will the encryption market have a Christmas rally this year?

The US stock market opened higher this week, driven by a big pump in chip stocks such as TSMC ADR and Nvidia. MicroStrategy announced an additional purchase of 5,262 BTC. After officially being included in the Nasdaq 100 Index on 12/23, it fell by 8.78% to close at $332.23. Today marks the start of the Christmas holiday in Europe and America, and trading is expected to be light. Will the encryption market still have a Christmas rally this year?

MicroStrategy buys BTC again, drops 8% after officially joining the Nasdaq 100 Index

MicroStrategy announced the acquisition of 5,262 BTC for approximately $561 million, with an average cost of $106,662 per BTC. The BTC yield for the quarter-to-date is 47.4% and year-to-date is 73.7%. As of December 22, 2024, MicroStrategy has acquired a total of 444,262 BTC for approximately $27.7 billion, with an average cost of $62,257 per BTC.

MicroStrategy was officially included in the Nasdaq 100 index yesterday (12/23), but its stock price has been performing poorly recently, falling as Bitcoin retraced in recent days. It dropped 8.78% on its first day of inclusion in the index yesterday, closing at $332.23.

Will there be a Christmas rally this year?

After the encryption currency experienced a decline last week, there was a general rebound yesterday. Today will be the Christmas holiday in Europe and the United States, and the stock market will close early. Many foreign investors will also wait until after New Year’s Day, and trading is expected to be light.

Data Source: CoinGecko

encryption currency have the opportunity to usher in a new wave of trends before Christmas Eve? Yesterday, the artist Beeple showed off his latest creation on X, titled ‘Profit Taking’, in which not only the head of Santa Claus appeared, but also the appearance of the polar ‘bear’.

This article MicroStrategy buys BTC again, but after being included in the index, it fell back. Will there be a Christmas market in the encryption market this year? Originally appeared on Chain News ABMedia.