According to reports, Michael Saylor’s MicroStrategy purchased another 130 Bitcoin (BTC) between Mar. 10 and Mar. 16. The value of the coins is around $10.7 million, with an average cost of $82,981 per coin. The company may have decided to buy the dip, a practice it has often followed. As of Mar. 16, MicroStrategy holds about 499,226 BTC valued at $33.1 billion. The average buying cost for each BTC owned by Microstrategy is around $66,360.

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Bitcoin Making A Slow Recovery

BTC seems to be making a slight recovery this week. The asset fell to below $80,000 last week but has since seen some inflows. BTC’s price is up 0.9% in the daily charts and 1.1% over the previous week. Despite the rally, BTC’s price is down by 10.1% in the 14-day charts and 14.6% over the previous month. The original crypto has maintained some gains in the yearly charts, rallying 24.4% since March 2024.

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The lackluster market performance is likely due to macroeconomic concerns. Global trade wars may have spooked investors away from risky assets. The US’s tariffs against other nations have caused significant worry among market participants. If the Federal Reserve announces an interest rate cut, we may witness the crypto market bounce back up. BTC could reclaim the $100,000 mark under such conditions.

All-Time High Could Be Around The Corner

Bitcoin (BTC) hit an all-time high of $108,786 in January 2025. The asset’s price has fallen by more than 23% from its peak.

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According to CoinCodex, BTC could be on its way to a new all-time high. The platform anticipates the asset to rally over the coming months. CoinCodex predicts BTC will hit a new peak of $160,519 on June 14. The asset’s price will rally by about 92.5% if it hits the $160,519 target.