Live updates: Bitcoin steady above $65,100 as Strategy reports 1,690 BTC sale
CoinDesk • • business
Key Points:
- Bitcoin's Saturday trading range narrowed to $350, the tightest since November 2023, highlighting muted price action despite higher absolute prices, amid typical weekend lower liquidity in crypto markets.
- MicroStrategy sold 1,690 BTC for $108.6 million last week and repurchased over 1.15 million preferred shares, while raising $653.1 million from MSTR share sales, boosting its USD reserve to $4.65 billion and holding 840,447 BTC.
- Standard Chartered initiated coverage on Chainlink (LINK) with a $200 price target by 2030, citing its dominant role in DeFi data provision and potential gains as traditional finance increasingly tokenizes assets on blockchains.
- TSMC reported a 45% rise in July sales to $14.5 billion, driven by strong AI hardware demand, and raised its 2026 capital expenditure target to a record $60-$64 billion, signaling robust chip demand supporting positive risk sentiment for crypto markets.
- Bitcoin held near $65,200, up 3.7% on the week, despite the Senate's failure to pass the CLARITY Act; market gains were driven by ETF inflows and a softer dollar, with MicroStrategy's recent BTC sales interpreted as a precursor to further purchases.
