Crypto Market Declines Amid Selling Pressure and Risk-Off Sentiment

The crypto market has been experiencing a decline in the past 24 hours, with Bitcoin's price hovering around $60,000. This downturn is attributed to a combination of factors, including selling pressure from corporate treasury shifts and risk-off sentiment.

Strategy Inc., formerly known as MicroStrategy, added another 592 BTC worth nearly $40 million to its holdings, solidifying the company's long-term conviction in Bitcoin. However, this move contrasts with that of Mining firm Bitdeer, which sold its remaining 943 BTC and reduced its treasury exposure to zero as it pivots towards AI infrastructure.

Ethereum also experienced a decline, falling by 5.7% after co-founder Vitalik Buterin sold 1,869 ETH over two days. While the transactions were reportedly pre-planned to fund ecosystem development and biotech initiatives, traders reacted quickly, contributing to the market's fragile mood.