Bitcoin briefly dropped under $90,000, marking its weakest level since April, before rebounding amid sharp volatility. The decline came after weeks of uneven trading and followed a disclosure from MicroStrategy Incorporated (Strategy) that it purchased 8,178 Bitcoin worth $835.6 million between November 10 and November 16.
The cryptocurrency touched an intraday low of $89,589.51 before recovering. As of 10:45 pm ET, Bitcoin was trading at $90,688.15, down 1.62%.
Ethereum also slipped, falling 0.32% to $3,019.63.
