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Bitcoin Drops Below $87,000 After A Surge

Bitcoin and cryptocurrency prices traded higher Monday, continuing the climb triggered this weekend by comments from President Donald Trump honing the administration's tariffs strategy. Bitcoin on Monday afternoon traded above $88,500, up from its late Friday level around $84,000.

Now Bitcoin's upward trend has paused, falling below $87000.

Strategy Now Holds over 500,000 Bitcoin After $584M Purchase

In a regulatory filing on March 24, Strategy revealed that it purchased 6,911 BTC between March 17 and March 23 for approximately $584.1 million in cash. That brings the company’s total holdings to 506,137 Bitcoin, worth roughly $42.8 billion at current prices.

The new BTC was acquired “at an average price of approximately $84,529 per bitcoin, inclusive of fees and expenses,” the filing said. The company used funds raised from its ongoing stock sale programs — known as ATMs (at-the-market offerings) — involving both its common stock (MSTR) and its new preferred shares (STRK).

Between March 17 and 23, Strategy sold 1,975,000 shares of MSTR, raising $592.6 million after fees. At the same time, it sold 13,100 shares of STRK, its 8% Series A Perpetual Preferred Stock, raising another $1.1 million. According to the company’s 8-K filing, “approximately $3.57 billion of MSTR Shares” and “$20.99 billion of STRK Shares” remain available for sale through the respective ATM programs.

Trump Media Teams up with Crypto.Com to Launch ETFs on Truth.Fi

President Donald Trump's media company Trump Media & Technology Group said on Monday it is partnering with Crypto.com to launch exchange-traded funds and products through its Truth.Fi brand.

Shares of the company, which operates social media platform Truth Social, rose 10.5% after the bell on Monday, but have fallen 38% in the last 12 months.

The ETFs, which will be available through Crypto.com's broker-dealer Foris Capital, will include digital assets as well as securities with a "Made in America focus" across various industries, according to a statement.

Bitcoin ETFs Attracted $644 Million From Investors Last Week, Marking a Sentiment Shift

Cryptocurrency investment products recorded $644 million in inflows last week, a reversal after five consecutive weeks of shedding assets. 

Inflows to Bitcoin exchange-traded funds largely led the shift, followed by flows to Solana, Polygon and Chainlink investment products, CoinShares Head of Research James Butterfill said Monday in a report. Meanwhile, total assets under management for crypto investment products rose 6.3% from their low point on March 10, according to CoinShares’ data. 

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $84.17 million. The total net asset value of Bitcoin spot ETFs is $99.31 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.7%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on March 24 was Fidelity Wise Origin Bitcoin Fund (FBTC), with a net inflow of $82.85 million. Following that was Bitwise Bitcoin ETF (BITB), with a net inflow of 19.23 million, according to SoSoValue.

Source: SoSoValue