According to a report by CryptoQuant, Michael Saylor‘s Strategy’s Bitcoin (BTC) purchases had significantly dipped in November 2025. According to the report, the company had a peak of 134,000 Bitcoin (BTC) monthly at its peak, to just 9100 BTC in November. CryptoQuant believes the 24-month buffer is a sign that we are entering a long and severe bear market. We could be in the early stages of another crypto winter. Let’s discuss.

Is Michael Saylor’s Dipping Bitcoin Buys A Sign Of Worse Things To Come?

Michael Saylor is one of the most vocal Bitcoin (BTC) maximalists out there. His company, Strategy, is one of the biggest Bitcoin (BTC) holders in the world. According to the company’s website, it holds 650,000 BTC, nearly 3% of the entire supply. Given the company’s massive holdings, its actions often lead to some price movements.

Strategy’s falling Bitcoin (BTC) purchases may have further spooked investors. The crypto market has faced substantial liquidations over the last two months. Things seem to be slowly improving over this week. However, the rally seems to have slowed down, with BTC’s price consolidating around the $93,000 price level.

While Strategy’s Bitcoin (BTC) purchases are down, Grayscale presents a bullish outlook for the asset. The financial institution has presented a new thesis in which it claims BTC may follow a 5-year cycle instead of a 4-year cycle. In such a scenario, BTC will climb to a new all-time high in 2026 and then face a price dip. If Grayscale’s thesis is correct, then we may be gearing up for another bullish outbreak. Moreover, the possibility of another interest rate cut this month could further propel BTC’s price.

Also Read: Bitcoin Hitting This Price Will Trigger A Bull Run

Unfortunately, things are never clear in the crypto space. Bitcoin (BTC) could fall victim to macroeconomic factors or continue rallying if investor sentiment improves.