Bitcoin fell below $69,000 on Thursday after MARA Holdings disclosed it sold a large portion of its BTC stack to support a push into AI computing. The company said it sold 15,133 BTC for roughly $1.1 billion during March 4–25, cutting its holdings by about 28% from 53,822 BTC at the start of March.

Bitcoin is trading just under $69,000 after stabilizing from recent volatility, with analysts describing a tight “compression range” around roughly $69K–$72K. Several firms say macro cross-currents and thin liquidity are keeping price action contained, while $72,000 is framed as the key level that would need to hold for a clearer upside move.

Bitcoin traded sideways on Thursday after a volatile week, with the market closely watching resistance around $72,000. Order-book data showed dense sell orders between $71,200 and $72,000, while bids sat lower at $70,400, $70,000, and $69,600. At press time, BTC was $68,902, down 2.67% over the past 24 hours.

Bernstein analyst Gautam Chhugani says the current Bitcoin drawdown represents a cycle bottom and reiterates a year-end BTC target of $150,000. The firm also set a $450 price target for Strategy, implying 226% upside from Monday's $138.20 close, citing $56 billion of Bitcoin and cash versus $18 billion of total debt. Bernstein points to $2.2 billion of net Bitcoin ETF inflows over four weeks and ETF ownership of 6.1% of supply as key supports.

MARA Holdings sold 15,133 Bitcoin for roughly $1.1 billion between March 4 and March 25, 2026, using the proceeds to repurchase $1 billion of its 0% convertible senior notes due in 2030 and 2031. The company also updated its treasury policy in early March to permit BTC sales and is shifting capital toward AI-focused computing infrastructure, including a planned 1 GW initiative with Starwood Digital Ventures.

At 10:30 a.m. Eastern time on Thursday, bitcoin traded at $69,678 after pulling back from an intraday high of $71,570 and settling near the $69,500 area. The market remains locked in a range, with short-term momentum fading and multiple resistance levels overhead, while key support is watched around $69,000.

MARA Holdings said it sold 15,133 Bitcoin (BTC) from March 4 to March 25, 2026, liquidating $1.1 billion as part of efforts to bolster its balance sheet. It used $912.8 million of the proceeds for privately negotiated repurchase agreements with certain Convertible Senior Notes holders due 2030 and 2031. The company reported holding 38,689 BTC valued at about $2.68 billion, while its shares rose over 9% to around $9.15.

MARA Holdings sold 15,133 BTC for approximately $1.1 billion between March 4 and March 25 to fund a restructuring of its convertible debt. The company said it used the proceeds to repurchase $1.0 billion in 0.00% convertible senior notes at about a 9% discount, cutting total convertible debt from roughly $3.3 billion to $2.3 billion. Bitcoin was trading around the $70,000 level as the sale was disclosed.