Bitcoin (BTC) experienced a drop in price, falling below $92,000, causing fears of hyper-liquidation in the crypto community. Some analysts predicted a further drop below $91,000 due to a large sell-off linked to its negative correlation with the USDT Dominance Index. MicroStrategy's CEO, Michael Saylor, announced the acquisition of 2,138 BTC for $209 million, but the price retracted sharply, dropping below $93,000. There is speculation about the driving forces behind Bitcoin's rally, with some suggesting that Saylor's aggressive acquisition strategy influenced the momentum. Concerns are raised about the sustainability of the rally as buying activity from Saylor reduced. The intense rally is debated as a sign of a "secular bull market" or reliance on institutional players. The dominance of institutions in Bitcoin ownership has sparked a discussion about the cryptocurrency's decentralized nature.



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