"Orange dots mean no tariffs." On November 30 (UTC+8), Michael Saylor, founder of MicroStrategy (now rebranded as Strategy), once again posted his famous Bitcoin Tracker chart on social platform X.
Based on past experience, this move almost always signals that his company is about to announce another round of Bitcoin purchases.
As the market held its breath waiting for Strategy’s next move, the morning of December 1 saw the cryptocurrency market plunge. Bitcoin briefly fell below $86,000, dropping over 5% in a single day.
01 Saylor’s Predictable Signal
Michael Saylor’s posting of the Bitcoin Tracker has become a highly predictable market indicator.
Savvy crypto investors know that almost every time he shares this Tracker, Strategy announces how much Bitcoin they’ve bought the very next day.
This pattern is so consistent that the crypto community now has a saying: "Saylor posts the Tracker, expect a purchase announcement the next day."
It’s become a minor market ritual—Saylor posts the Tracker, then comes the buying announcement.
According to historical data, since 2020, Strategy has made 80 Bitcoin purchases, accumulating roughly 639,835 BTC at an average acquisition cost of about $73,971 per coin.
In the most recent disclosure on September 22, Strategy added 850 Bitcoins for $99.7 million.
02 Sudden Market Turbulence
Just as Saylor sent his signal and the market anticipated another round of buying from Strategy, the crypto market experienced a sharp sell-off on the morning of December 1.
Data shows Bitcoin briefly dipped below $86,000, with an intraday drop exceeding 5%. Ethereum also fell more than 5%, losing the $2,900 level.
At press time, Bitcoin traded at $86,600, down 4.22%, while Ethereum was at $2,837, down 5.35%.
Other major cryptocurrencies followed suit: XRP and Dogecoin both dropped over 6%, while Solana and Cardano fell nearly 6%.
03 Brutal Liquidations
This sudden downturn triggered massive liquidations for leveraged traders.
According to Coinglass, $528 million in crypto derivatives positions were liquidated across the market in 24 hours, affecting 177,200 traders.
Of these, long positions accounted for $466 million in liquidations, while shorts saw $61.75 million. The largest single liquidation occurred on Binance-ETHUSDC, totaling $14.48 million.
These figures highlight the severe impact of market volatility on leveraged traders.
04 Reasons Behind the Drop
This crypto sell-off may be linked to a rumor circulating about Federal Reserve Chair Jerome Powell.
The rumor claimed, "Powell will announce his resignation at an emergency meeting at 7 p.m. Eastern Time on December 1."
However, as of now, mainstream international media have not reported anything to substantiate this. Analysts believe the rumor is most likely false.
Meanwhile, U.S. President Trump stated Sunday that he has decided on the next Fed chair.
This announcement added to market uncertainty. Trump has previously made it clear he wants his nominee to lower interest rates.
05 Market Analysis
Sean McNulty, Head of Derivatives Trading for Asia-Pacific at FalconX, commented: "The market is starting December with a strong risk-off sentiment. The most worrying sign is the lack of inflows into Bitcoin ETFs and the absence of dip buyers."
McNulty added, "We expect structural resistance to persist this month. We’re watching the $80,000 level for Bitcoin as the next key support."
Bloomberg analysis suggests the crypto market’s foundation remains shaky. This multi-week sell-off began in early October, when $19 billion in leveraged positions were wiped out.
Just days ago, Bitcoin hit a record high of $126,250.
06 Strategy’s Bitcoin Playbook
Michael Saylor and Strategy have become bellwethers for institutional Bitcoin investment.
According to Saylor’s latest Tracker update, Strategy’s Bitcoin portfolio has soared to an astonishing $70.01 billion.
Strategy’s approach to Bitcoin remains consistent: relentless accumulation.
The company continues to buy through market volatility, staying true to its philosophy of "continuous Bitcoin accumulation."
With the recent sell-off, all eyes are on whether Strategy will stick to its buy-the-dip strategy.
07 Market Outlook
The coming week will provide a snapshot of U.S. economic momentum as policymakers weigh the trajectory of interest rates through 2026. New data could shape market expectations for whether the Fed will continue its rate-cutting cycle.
Treasury Secretary Besant, who oversees the Fed chair selection process, said last week that Trump may announce his nominee before Christmas on December 25.
As the Fed resumes gradual rate cuts, Trump’s dissatisfaction with Powell has grown, and he has made it clear he wants a chair who will push for deeper rate reductions.
Hotcoin Research’s latest view: "By 2024–2025, the market’s participant structure has fundamentally changed. With a higher share of institutional money, future price swings will be more driven by fundamentals and data, while short-term sentiment will play a smaller role."
The firm further noted that institutional competition and rational pricing will become the norm. By 2026, the Bitcoin market will be more mature and stable. That doesn’t mean trading opportunities will disappear, but the days of wild booms and busts will be harder to repeat.
Looking Ahead
The market will always speculate on Saylor’s next move, but one thing is certain: his Twitter account has become a barometer for the Bitcoin world.
As investors digest the recent plunge, everyone is watching to see if Strategy will announce another round of Bitcoin accumulation. If history is any guide, this downturn may be just a brief episode in a long-term bull market.
In the crypto world, the only constant is change—but Saylor’s faith in Bitcoin remains unwavering.
