Michael Saylor: Concerns About Bitcoin Strategy Sell-off Are Baseless, Will Continue Buying

Per Coinglass data dated February 10: If Bitcoin dips below $66,000, total long liquidation intensity across major centralized exchanges (CEXs) will hit $538 million. By contrast, should Bitcoin break above $70,000, total short liquidation intensity on the same platforms will reach $449 million. **BlockBeats Note**: Liquidation charts do not display the exact number of contracts at risk of liquidation or the precise value of those contracts. Instead, the bars on these charts represent the relative significance of each liquidation cluster compared to adjacent clusters — in other words, "intensity." As such, the charts illustrate how impactful hitting a specific price level will be: A taller liquidation bar signals a more intense market reaction once the price reaches that level, driven by a liquidity cascade.

On February 10, Bitcoin briefly dropped below $68k per HTX market data, currently trading at $68,203—down 1.73% over the past 24 hours.

U.S. Treasury yields declined during European trading on February 10, as markets turn their focus to U.S. January labor market data due Wednesday—with the weekly ADP private payrolls report set to release imminently ahead of it. DHF Capital S.A. analyst Bas Kuipers noted in a report that the ADP data could further reinforce markets’ expectations for a U.S. interest rate cut. The asset manager added: “With the labor market’s resilience increasingly in question, any below-forecast reading could heighten market caution ahead of Wednesday’s nonfarm payrolls report and pressure the U.S. dollar and Treasury yields.”

U.S. stocks opened higher on February 10, with the Dow Jones Industrial Average up 0.11%, the S&P 500 up 0.13% and the Nasdaq Composite up 0.1%, according to market data from Bitget.

On February 10, Cointelegraph reported that Kaiko Research noted Bitcoin’s sharp pullback earlier this month could mark a key “mid-cycle dip” in the current bear market. Kaiko emphasized the decline signals the market has transitioned from post-halving euphoria into a historically typical bear market phase—one that typically lasts around 12 months before entering a new accumulation phase.