<\/p>\n
MicroStrategy has purchased another $786 million of Bitcoin while the German government is reportedly trimming its BTC holdings.<\/p>\n
Crypto markets initially rallied on Friday morning after business intelligence firm MicroStrategy acquired an additional 11,931 BTC.<\/p>\n
However, markets reversed into the red amid a selloff in technology stocks after the Nasdaq index hit an all-time high of 19,980.<\/p>\n
Bitcoin<\/a> is trading flat on the day, while Ethereum<\/a> dropped 0.6%. Solana<\/a> slipped 2.5%.<\/p>\n <\/p>\n <\/a><\/p>\n Meanwhile, blockchain analytics firm Arkham reports<\/a> that the German government has been offloading BTC, with just under $200 million sold so far.<\/p>\n MicroStrategy’s purchase amounted to $786 million. According to a Thursday filing,<\/a> the company acquired the BTC at an average price of $65,883 between April 27 and June 19. This brings MicroStrategy’s total Bitcoin holdings to 226,331 BTC.<\/p>\n According to founder Michael Saylor, these holdings were accumulated<\/a> at an average price of $36,798 per Bitcoin, which totals $8.33 billion.<\/p>\n Memecoins Dogecoin, Shiba Inu, and Pepe posted losses of between 1% and 4% over the past 24 hours.<\/p>\n According to data from CryptoQuant, the dominance ratio of meme coins compared to altcoins has decreased, dropping sharply from 0.060 to below 0.045 on Friday.<\/p>\n \u201cCT would be shifting from gambling to focusing on fundamentals, similar to a few years ago,\u201d CryptoQuant CEO Ki Young Ju said<\/a>. \u201cPack it up lads, it\u2019s over.\u201d<\/p>\n In other BTC news, the VanEck Bitcoin ETF has commenced trading on the Australian Securities Exchange (ASX).<\/p>\n Over 43,599 traders were liquidated in the last 24 hours, resulting in total liquidations of $111 million, according to CoinGlass. The largest single liquidation order occurred on Bybit with a BTC-USD value of $8.09 million.<\/p>\n