Cover image via U.Today

Amidst recent market volatility and a Bitcoin (BTC) price drop, Michael Saylor, Strategy's Chairman, offered a concise response on X (formerly Twitter): "HODL."

HODL— Michael Saylor (@saylor) April 9, 2025

Bitcoin experienced a significant price decline of over 5% within 24 hours, as ongoing macroeconomic challenges weighed on the broader cryptocurrency market early Wednesday. Despite this downturn, Saylor maintained his characteristically bullish stance.

Under Saylor's leadership, Strategy has become a major corporate Bitcoin holder. Over a week prior, Strategy announced a $1.9 billion Bitcoin purchase, representing their largest coin investment this year. As of March 30th, Strategy held 528,185 BTC, acquired at an approximate cost of $35.63 billion, averaging roughly $67,458 per Bitcoin.

The cryptocurrency market experienced widespread losses. Bitcoin fell below $75,000 early Wednesday, impacting other major cryptocurrencies. A recent rally's gains were erased as traders retreated. After a brief rebound to $81,223 on Monday, Bitcoin retreated before stabilizing above $76,000 at press time.

At the time of writing, Bitcoin is down 4.14% in the last 24 hours, trading at $76,384 after reaching an intraday low of $74,553. Ethereum (ETH) saw a 6% decrease, leading losses among major tokens. Dogecoin (DOGE), Cardano's ADA, and Toncoin also experienced declines exceeding 6%. Overall market capitalization dropped 2%, extending a seven-day downturn. Crypto derivatives saw liquidations totaling $443 million in the past 24 hours.

Analysts advise caution in the short term but foresee potential for Bitcoin rebound should macroeconomic conditions improve. Conversely, some predict a further decline to $70,000, potentially increasing pressure on major cryptocurrencies. Read original article on U.Today