Bitcoin Drops Below $90K But Saylor Eyes Buy the Dip Opportunity

Bitcoin faced renewed selling pressure late Sunday, sliding to its lowest level in two weeks as global markets showed signs of stress. The leading cryptocurrency fell to about $87,600, before rebounding above $89,800. 

The sharp late weekend drop has become a familiar pattern in recent weeks during low liquidity periods. This marked Bitcoin’s weakest level since December 2, when it was recovering from a deeper fall toward $84,000. 

While prices stabilized shortly after, sentiment remains cautious as traders look for clues on the market’s next direction.

Fresh Bitcoin Buy Hints

Amid the downturn, Strategy chair Michael Saylor once again hinted that his firm may be preparing another Bitcoin purchase. On Sunday, Saylor posted “Back to More Orange Dots” on X, alongside a familiar portfolio chart that has previously signaled incoming buys.

Strategy’s most recent purchase took place on December 12, when the company acquired 10,624 BTC, its largest addition since late July, according to SaylorTracker. The firm now holds roughly 660,624 BTC, valued at around $58.5 billion at current prices. Its average cost sits near $74,696 per coin, leaving the company still in profit despite recent market weakness.

Saylor’s consistent buying strategy has often been viewed as a long term vote of confidence, even during periods of volatility. 

Japan Rate Decision Looms

Some analysts believe the latest pullback is tied to growing concern around an upcoming interest rate decision by the Bank of Japan. Analyst “NoLimit” warned that traders may be underestimating the effect of a potential rate hike, pointing to past instances where Japanese policy shifts were followed by sharp Bitcoin declines.

Japan’s central bank is widely expected to raise rates by 0.25% this Friday, with Polymarket assigning a 98% probability to such a move. As Japan remains a major holder of US debt, tighter policy could trigger broader risk asset selling through carry trade unwinds.

Justin d’Anethan, head of research at Arctic Digital, said the drop toward $88,000 felt discouraging for bulls, even after the recovery from November lows. He noted that fear around Japanese rates may push macro funds and short term traders to reduce exposure.

Meanwhile, analyst “Sykodelic” argued that markets tend to move ahead of known events and that Japan’s decision is already priced in. D’Anethan added that Bitcoin may remain range bound between $80K and $100K as traders wait for a clear bullish trigger.