Bitcoin has extended its pullback, sliding toward the $77,000 zone as broader crypto market pressure intensifies.

Key takeaways:

• Bitcoin is trading near $77,000, testing a critical support zone after a sharp multi-week decline

• Strategy holds 712,647 BTC, with an average cost around $76,038

• Despite volatility, Strategy remains marginally in profit on its Bitcoin position

• Saylor continues to signal long-term conviction rather than concern over short-term price action

The move has pushed prices close to levels that are now drawing sharp attention-not only from traders watching technical support, but also from institutions with massive long-term exposure. Chief among them is Michael Saylor, whose firm Strategy remains one of the largest corporate holders of Bitcoin despite the downturn.

More Orange. pic.twitter.com/b5iYIMARJX

— Michael Saylor (@saylor) February 1, 2026

According to the latest hint shared by Saylor, another buy may be approaching soon. Let’s remember Strategy now holds 712,647 BTC, valued at roughly $55.3 billion at current prices. With Bitcoin trading near $77,600, the company’s average purchase price of about $76,038 means its position is hovering just above breakeven—after being deep in profit only weeks ago when Bitcoin was trading near its cycle highs.

Strategy’s Bitcoin Position: From Peak Profits to Breakeven

At Bitcoin’s peak near $126,000, Strategy’s holdings were valued at more than $80 billion, even though the company owned fewer coins at the time. Since then, the market has repriced aggressively, erasing tens of billions in notional value across crypto markets.

Still, Strategy’s cost basis leaves it in a uniquely resilient position. With the average purchase price sitting just below current market levels, the company is only about one to two percent away from slipping into unrealized losses-far from the forced-liquidation scenarios often speculated during sharp drawdowns. Saylor has repeatedly emphasized that Strategy is not a leveraged trader but a long-term accumulator, able to withstand extreme volatility without being forced to sell.

Technical Picture: Oversold Signals Build as Momentum Weakens

From a technical perspective, Bitcoin’s daily chart shows heavy downside momentum over recent sessions. The Relative Strength Index has dropped into oversold territory, while the MACD remains deeply negative, reflecting sustained selling pressure. Volume has picked up during down days, suggesting distribution rather than a quiet consolidation.

The $77,000–$78,000 range now stands out as a critical battleground. A clean break below this zone could open the door to deeper downside, while stabilization here may set the stage for a relief bounce—particularly if broader risk sentiment improves.

What to Expect Next

In the near term, Bitcoin’s direction will likely hinge on whether buyers step in to defend current levels. A sustained hold above Strategy’s average cost would reinforce confidence among long-term holders, while a decisive breakdown could test conviction across the market.

For now, Saylor’s message remains unchanged. Rather than reacting to volatility, he continues to frame Bitcoin as a long-duration asset—one where short-term drawdowns are noise in a much longer monetary cycle. Whether the market agrees in the coming weeks will depend on liquidity conditions, macro headlines, and how aggressively buyers respond to this latest test of support.