Michael Saylor hints at his firm's next Bitcoin buy as BTC falls below $88K, with analysts speculating that the Bank of Japan's interest rate decision is causing selling pressure.
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The Indian rupee slipped to its record low on Monday, as an ongoing stalemate in U.S.-India trade negotiations continued to weigh on the currency alongside persistent foreign selling of local equities and bonds.
Inox Wind Ltd. has secured a 102.3 MW order from Aditya Birla Renewables subsidiary ABREL EPC Ltd., marking its first order from this client. The company reported strong second quarter performance with a 56% revenue increase.
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Hong Kong's Hang Seng Bank's board committee has found HSBC's $13.6 billion take-private offer to be fair and reasonable, recommending minority investors to vote in favor of the proposal.
China's yuan climbed on Monday to a fresh 14-month high against the dollar, as broad weakness in the U.S. currency overcame concerns over an economic slowdown in the Asian giant and a softer-than-expected official guidance fix.
Korea Zinc Co., Ltd. is advancing plans to construct a strategic mineral smelter in the United States, involving the U.S. Department of Defense and local defense companies as shareholders.
Thai Life Insurance faces an earnings hit from two headwinds, with claims expected to rise significantly and a decrease in the value-of-new-business margin, leading to a downgrade in profit forecasts and target price.
The company that makes Roomba robotic vacuums declared bankruptcy Sunday but said its devices will continue to function normally while the company restructures.
India's equity benchmarks opened lower on Monday, beginning the week on a cautious note as persistent foreign selling and uncertainty over a trade deal with the U.S. continue to weigh on sentiment.
South Korean shares fell on Monday after a tech-led sell off on Wall Street amid concerns over the outlook of artificial intelligence (AI) technology companies. The won weakened, while the benchmark bond yield fell.
ZIM Integrated Shipping Services Ltd. has received recommendations from Glass Lewis and ISS to support its board nominees at the upcoming Annual General Meeting, reinforcing confidence in the current Board's strategic direction.
Strategy chair Michael Saylor has hinted at his firm’s next Bitcoin buy as the markets tanked again late on Sunday, with some observers blaming the Bank of Japan for the selling pressure.
Bitcoin (BTC) fell to a two-week low of $87,600 on Coinbase in late trading on Sunday, according to TradingView. The quick Sunday wick down has become a common trait over the last few weeks.
It is the lowest price the asset has seen since Dec. 2, when it was recovering from a fall to $84,000. It had recovered back over $89,000 at the time of writing, however.
Meanwhile, Michael Saylor hinted at another Bitcoin purchase, posting “Back to More Orange Dots” on X with the accompanying portfolio chart on Sunday.
Strategy’s last Bitcoin buy, its largest since late July, was 10,624 BTC on Dec. 12, according to SaylorTracker.
The firm currently holds 660,624 BTC worth around $58.5 billion at current prices. Strategy’s average cost per coin is $74,696, so the company is still up on its investments, for now.
Some analysts speculate that the increased selling pressure is coming from an imminent interest rate decision by Japan’s central bank.
“People are seriously underestimating what Japan is about to do to Bitcoin,” said analyst “NoLimit” on Sunday. They pointed out that previous rate hikes in Japan were followed by significant Bitcoin crashes, as Japan is the largest holder of US debt.
Polymarket’s predictions platform has a 98% chance that the Bank of Japan will hike rates by 0.25% on Friday.
Justin d’Anethan, head of research at the market advisory firm Arctic Digital, told Cointelegraph that while prices have recouped from the lows of November, the move down to $88,000 “feels like a defeat.”
“In Japan, rate expectations instilled fear of yet another carry trade unwind, which would weigh on risk assets and so push macro funds and day-traders to take some money off the table, expecting some further downside.”
Analyst “Sykodelic” said that Japan’s move was already known and already expected, therefore priced in. “Markets are forward-thinking, forward-moving. They move in anticipation of events, not when those events happen,” they said.
“We do expect prices to stay range-bound, though, very much in this $80K to $100K zone, as traders wait for a catalysis that may not come,” d’Anethan predicted.
Big questions: Would Bitcoin survive a 10-year power outage?
