Bitcoin Market Update

Bitcoin (BTC) is showing positive momentum again, and Strategy cofounder Michael Saylor is generating interest with a bold statement about BTC.

In a two-word tweet, Saylor wrote, “Try BTC,” while sharing a chart that demonstrates the U.S. dollar’s strength against the Turkish lira. This tweet seems to emphasize Bitcoin’s role as a hedge against currency devaluation.

> TRY BTC pic.twitter.com/wpqtWhqK2N
> — Michael Saylor⚡️ (@saylor) March 19, 2025

Saylor has been a prominent advocate for Bitcoin, often presenting it as a more reliable store of value compared to traditional fiat currencies. His latest tweet reinforces the idea of Bitcoin as a safeguard against inflation and currency depreciation, especially in economies where rapid devaluation is occurring.

Recently, Strategy announced its intention to sell $500 million in dollar-denominated perpetual preferred stock. The company, previously known as MicroStrategy, will utilize the proceeds for general corporate purposes, including Bitcoin acquisitions and operational funding.

On Monday, Strategy reported a purchase of $10.7 million in Bitcoin, just a week after declaring plans to issue up to $21 billion in preferred shares to facilitate further BTC acquisitions.

Bitcoin Price Rebounds

Bitcoin has risen to highs of $84,330 in early sessions on Wednesday as traders await the Federal Open Market Committee (FOMC) meeting results.

At press time, BTC had climbed nearly 2% in the last 24 hours to $83,934, with intraday peaks reaching $84,358 just before the FOMC meeting, where traders anticipate no change in interest rates. Many suggest keeping an eye on the $80,000 threshold since falling below it could indicate a loss of a significant support level.

The FOMC’s decision may either initiate a recovery if it’s dovish or continue the decline if it’s hawkish, with Bitcoin’s short-term trajectory closely linked to broader economic signals.

According to Glassnode, the Bitcoin market is still adapting to its new price level after a 30% drop. Additionally, liquidity in both on-chain and futures markets is declining, and long-term holders are remaining inactive, indicating a sluggish market and horizontal price movements.