Bitcoin Below $65,000: Bitdeer Liquidates Treasury, Strategy Celebrates 100th Purchase

The cryptocurrency market is navigating turbulent waters. This weekend, Bitcoin broke below the symbolic $65,000 threshold, hitting a low of $64,324 — its lowest level since February 6. Since the beginning of the year, the world’s leading cryptocurrency is now down 24%, while gold has risen 20% over the same period.

In this context of prolonged correction, two radically opposing corporate strategies illustrate the diverging visions within the ecosystem: on one side, Bitdeer liquidating its entire Bitcoin treasury; on the other, Strategy (formerly MicroStrategy) celebrating its 100th purchase by continuing to accumulate.

A Heavy Macro Backdrop

Bitcoin’s decline is part of a broader flight to safe-haven assets, driven by several converging macroeconomic factors:

• Tariffs: President Trump announced Saturday a hike in “retaliatory” customs duties to 15% against many trading partners, just one day after the Supreme Court invalidated his previous tariff measures.
• Geopolitical tensions: Trump’s statements about a possible strike against Iran “within the next 10 days” have heightened investor risk aversion.
• Regulatory uncertainty: Despite positive signals like the Fed’s announced end to Operation Chokepoint 2.0, the market remains nervous.

Assets considered risky, including cryptocurrencies, are logically suffering from this aversion. Silver has risen 23% since January, confirming the return to favor of traditional safe-haven assets.

Bitdeer: A Mining Giant’s Capitulation

It’s a strong signal to the market. Bitdeer (BTDR), one of the largest Bitcoin mining players, has sold all of its BTC reserves. According to its weekly report published February 23, the company holds no Bitcoin in treasury as of February 20 — excluding customer deposits.

In a single week, Bitdeer liquidated 943.1 BTC for approximately $12 million. This sale is part of a gradual liquidation strategy that lasted eight weeks, completely emptying the company’s crypto treasury.

Why this reversal? CEO Jihan Wu justified this decision by the need to “prepare liquidity” for strategic land acquisitions. The company is accelerating its pivot toward data centers for artificial intelligence, a sector deemed more profitable in the short term than Bitcoin mining.

“Our decision to sell Bitcoin should not alarm the market. We are evaluating several equipped land acquisition opportunities, and it is prudent to prepare liquidity now. Our BTC balance will not always be zero.”

— Jihan Wu, CEO of Bitdeer

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Strategy: The 100th Purchase and Unwavering Conviction

In stark contrast to Bitdeer, Strategy (formerly MicroStrategy) continues to accumulate Bitcoin with clockwork regularity. Michael Saylor’s company just completed its 100th Bitcoin purchase since adopting this treasury strategy in 2020.

Between February 17 and 22, Strategy acquired an additional 592 BTC for approximately $39.8 million, at an average price of $67,286 per Bitcoin. The funding comes from selling 297,940 Class A common shares through its issuance program.

In total, Strategy now holds 717,722 BTC, acquired for a total cost of $54.56 billion, representing an average acquisition price of $76,020 per Bitcoin. This represents the largest corporate Bitcoin treasury in the world.

Michael Saylor celebrated this symbolic milestone on X (formerly Twitter) with the mention “The Orange Century,” reaffirming his conviction that “if Bitcoin doesn’t go to zero, it will go to $1 million.”

The company still has $37.4 billion in available securities for future issuances, including $7.8 billion in MSTR shares and $20.3 billion in STRK shares.

Technical Analysis: Heading for $60,000?

From a technical standpoint, the situation remains concerning for buyers. The support at $65,650 gave way this weekend, opening the path to lower levels.

According to Bitcoin Magazine analysts, the next key levels to watch are:

• $63,000: last line of defense before new lows
• $60,000: major psychological support, already tested in early February
• $57,800: important technical level for a potential bounce
• $42,000 – $44,000: long-term support zone in case of prolonged breakdown

Technical oscillators (RSI, MACD) show bearish signals on the daily chart. The MRI indicator potentially suggests four more weeks of selling pressure, unless price returns above $77,000.

Key Takeaways

This sequence perfectly illustrates the tensions running through the Bitcoin ecosystem in early 2026:

• Miners under pressure must arbitrate between holding mined BTC and cash flow needs — some, like Bitdeer, choose to pivot toward AI.
• Committed accumulators like Strategy view the dip as a buying opportunity, even though their average acquisition price ($76,000) is now above the current price.
• The macro context remains the main driver of volatility, with tariff and geopolitical policies weighing on all risk assets.

For individual investors, this period of volatility underscores the importance of a progressive investment strategy (DCA) and a long-term vision, rather than emotional reactions to price movements.