Strategy has reaffirmed its long-term Bitcoin strategy despite a sharp market correction. The firm holds 649,870 BTC purchased at an average of $74,430, maintaining roughly 16% profitability even as Bitcoin fell nearly 9% over the past week. The company's chairman restated the firm's commitment to its holdings, while MSTR stock declined toward the $170 level.

Bitcoin climbed past $87,000 on November 23 after trading near $80,000 earlier in the day. The cryptocurrency remains down over 33% from its October peak of $126,000. Long-term holders are driving selling pressure as the market continues to face volatility, according to market analysts.

Bitcoin has declined 10.4% over the past seven days, with market analyst Ali Martinez identifying potential local bottom targets using MVRV Pricing Bands. Historical patterns suggest BTC could fall to between $44,713 and $55,914 before establishing support. The analysis comes as US-listed Bitcoin spot ETFs recorded $4.339 billion in net outflows over four weeks.

Japan's Financial Services Agency is drafting regulations to reclassify Bitcoin, Ethereum, and approximately 100 other digital tokens as financial products, local media reports show. The proposed framework would introduce a 20% flat tax rate on crypto gains, replacing the current system where rates can reach 55%. Implementation is targeted for 2026.

Bitcoin has dropped more than 35% from its early October all-time high, falling below its 365-day moving average of $102,000. CryptoQuant's analysis examines whether the cryptocurrency market has entered a bear phase or remains in a deep correction within the current bull cycle. The asset declined to below $81,000 before recovering to $87,000.

Bitcoin rose 2.5% to $86,129 after a sharp decline. Analyst Joao Wedson says the drop stemmed from an unprecedented imbalance where long contracts vastly outnumbered shorts, creating excessive bullish leverage that destabilized the market. Current positioning shows approximately 71,000 BTC in long contracts versus 27,900 BTC in shorts.

Bitcoin recovered to $86,100 on Sunday after falling to $80,500, rising 2.5% in 24 hours as Strategy CEO Michael Saylor disputed concerns over MSCI's potential index removal. MSCI announced on October 10 that companies holding over 50% of assets in digital currencies may be delisted from its equity indices. JPMorgan warned Strategy could face up to $8.8 billion in outflows if multiple index providers follow suit, according to a research report published Wednesday.

On-chain data shows approximately 71,000 BTC in long positions versus 27,900 BTC in shorts across 19 exchanges, according to Alphractal CEO Joao Wedson. The disparity has triggered cascading liquidations as Bitcoin breached key support levels at $100,000 and $90,000. Bitcoin traded at $86,251 at the reported time, up 3% over 24 hours.