Bitcoin barely moved on Wednesday, staying steady after recent losses. Investors are cautious ahead of important U.S. economic reports and comments from the Federal Reserve, which is keeping riskier assets like crypto under pressure.
Bitcoin was up just 0.2% at $67,170. Corporate buys provided little boost. Strategy Inc disclosed it bought 2,486 Bitcoin for $168.4 million last week, raising its total holdings to 717,131 coins. The purchases were funded through stock issuances, and the average price paid per coin was $67,710, slightly below current levels.
Strategy has said it could survive a Bitcoin crash to $8,000 and still meet its debt obligations. But some investors worry that repeated stock issuances to fund crypto purchases could dilute the company’s shares. There’s also concern that a sustained Bitcoin downturn could force Strategy to sell coins to cover debt.
Ark Invest, led by Cathie Wood, added $6.9 million in Coinbase shares. Most of the purchases went to the ARK Innovation ETF, which bought 29,689 shares, while smaller amounts went to the ARK Next Generation Internet ETF and ARK Fintech Innovation ETF. This marks a reversal after Ark trimmed its Coinbase exposure earlier in February.
Other crypto prices moved in a tight range. Altcoins continue to struggle after steep losses. Ether rose about 1% to $1,968, XRP gained 2% to $1.4616, BNB and Cardano edged slightly higher, Solana slipped 1%, Dogecoin rose 1%, and $TRUMP jumped over 5%.
Investors are watching U.S. economic data closely. Industrial production rose 0.7% in January, above expectations. Trade data comes Thursday, and the PCE price index, the Fed’s preferred inflation measure, is due Friday. The Fed’s January meeting minutes will also be released. Crypto markets remain sensitive to U.S. interest rate expectations because of their speculative nature.