Bitcoin Falls as Strategy’s Total Holdings Hit 709,000

The price of Bitcoin fell 4% in the past 24 hours to $89,427 as Michael Saylor’s company, Strategy, continues its aggressive accumulation of the cryptocurrency.

Last week, the company purchased 22,305 BTC for $2.13 billion, at an average price of $95,284 per coin, according to a U.S. Securities and Exchange Commission filing. This latest purchase brought Strategy’s total Bitcoin holdings to 709,715 BTC, purchased for approximately $53.92 billion at an average cost of $75,979 per coin.

JUST IN: 🇺🇸 Michael Saylor’s STRATEGY now holds 709,715 bitcoins worth $64.5 BILLION

3.3% of the total supply 🔥 pic.twitter.com/00lCgEXZgn

– Bitcoin Archive (@BitcoinArchive) January 20, 2026

The company now holds approximately 3.37% of the total supply of 21 million BTC and 3.55% of the 19.98 million currently in circulation, according to Blockchain.com. Strategy’s recent buying spree marks its largest Bitcoin acquisition since February 2025, when it purchased over 20,000 BTC for around $2 billion. Earlier this month, the company also purchased 13,627 BTC ($1.3 billion), signaling a sharp acceleration in purchases compared to most of last year.

Strategy Maintains Bitcoin Accumulation

The surge in buying occurred as Bitcoin briefly topped $97,000 and shares of Strategy (MSTR) topped $185, further boosted by Morgan Stanley Capital International’s (MSCI) decision not to exclude digital asset treasury companies from its market index.

Despite the recent price pullback, Strategy remains committed to its Bitcoin accumulation strategy. Analysts suggest that the market is now focusing on digital asset treasury companies that can survive through disciplined management and realistic expectations.

James Butterfill of CoinShares emphasized that long-term success depends on credible business models, disciplined treasury practices, and careful management of digital assets on company balance sheets. The strategy’s continued purchases underscore Michael Saylor’s belief that Bitcoin should remain an essential part of companies’ cash flow strategy, even as volatility in cryptocurrency markets persists.

Bitcoin tests major support zone near $85,000

Bitcoin returned to $89,596, down 3.26% over the past 24 hours, but technical indicators indicate a potential rebound could be forming. The daily chart shows that Bitcoin is currently near a major support zone between $85,000 and $87,000, which has historically been a strong floor for price declines.

Analysts are watching this level closely, as a bounce from here could trigger a parabolic reversal, taking prices back towards $100,000. Past price action shows that Bitcoin formed a bullish channel in April-May 2025, followed by a double top trend in June, which led to a significant correction in the months that followed.

The market then entered a prolonged downtrend, facing repeated resistance levels near $115,000 and $110,000, which it repeatedly failed to breach. Repeated rejections at these highs have added to the selling pressure, while the support zone now serves as a key area for potential accumulation by investors.

BTCUSD chart analysis source: Tradingview

The relative strength index (RSI) is currently at 42.65, indicating that Bitcoin is neither oversold nor overbought, but is approaching a level that often precedes bullish momentum. Traders are likely monitoring the RSI in combination with price action in the support zone to identify entry points for a potential upward move.

If Bitcoin manages to hold above the support zone and gains upward momentum, the chart suggests a parabolic recovery path towards previous resistance levels. However, failure to defend this area could lead to further decline, potentially testing lower levels near $80,000. Overall, market sentiment remains cautious, with investors balancing optimism about a potential rebound with concerns about near-term volatility.

This technical setup highlights the ongoing tug of war between buyers and sellers, highlighting that Bitcoin’s next major move will depend on how it reacts to the current support zone and whether it can regain momentum towards $100,000 and beyond.

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