Market Overview
Bitcoin remained largely unchanged on Tuesday, trading at $80,373.3 by 10:57 ET after briefly dipping to $79,494, keeping the price below the $80,000‑$87,000 range that had defined the past month. The muted movement came amid heightened caution ahead of the Federal Reserve’s interest‑rate decision, with markets broadly wary of speculative assets.
Strategy Inc. (MicroStrategy) Activity
Strategy Inc (NASDAQ:MSTR) reported that during the week of 19 October to 25 October 2026 it made no purchases or sales of Bitcoin and did not issue any shares under its at‑the‑market program. The company’s Bitcoin holdings stand at approximately 848,517 BTC, acquired for a total outlay of $64.02 billion, reflecting an average purchase price of roughly $75,446 per coin inclusive of fees and expenses.
In the same week, Strategy repurchased 2,068,459 shares of its STRC Variable Rate Series A Perpetual Stretch Preferred stock for $204.9 million, funded from its USD cash reserves. No other security classes were bought back, and the firm disclosed no rationale for the pause in Bitcoin acquisition.
Commentary from Galaxy
Alex Thorn, head of firm‑wide research at Galaxy, reiterated confidence in Bitcoin’s long‑term outlook, stating that the bear market likely ended in June when prices fell below $58,000. He highlighted Bitcoin’s recent move above its 50‑week moving average after 44 weeks below it, noting five consecutive weekly closes above that level. Thorn also pointed out that net long exposure through CME Bitcoin futures has fallen 57 % since the record‑high week, and major trading firms have trimmed ETF holdings, suggesting “fast money has left, the base stayed.” He argued that rising U.S. debt, persistent deficits, and growing interest costs enhance Bitcoin’s appeal as a fixed‑supply asset.
Ark Invest Activity
Cathie Wood’s Ark Invest purchased 65,615 shares of Circle Internet Group, valued at $5.2 million, for inclusion in its Next Generation Internet ETF (ARKW). Simultaneously, Ark sold $15.9 million of its own spot ARK 21Shares Bitcoin ETF from two of its funds as Bitcoin continued its slide. As of 27 October, Circle represents the fifth‑largest holding in ARKW, accounting for 4.3 % of the fund’s assets, roughly $67.8 million. Other top holdings in the fund include Tesla, Meta, Shopify, and Amazon.
Broader Crypto Market Context
Across the crypto sector, prices were largely muted. Ether (ETH) edged up 0.3 % to $2,334.01, while BNB traded flat. XRP rose 1.1 % after Ripple received final U.S. approval to establish a national trust bank. Solana fell 1.4 %, Cardano slipped 1.1 %, Dogecoin was unchanged, and the meme‑coin $TRUMP declined 0.8 %.
Monetary‑Policy Outlook
The Federal Reserve is widely expected to keep the policy rate unchanged at 4.0 %, but recent stickiness in U.S. inflation could prompt a more hawkish tone, a scenario viewed unfavorably for crypto assets. The European Central Bank and the Bank of Japan are also anticipated to adopt hawkish stances, adding further pressure on speculative markets.