MicroStrategy bought another 2,530 $BTC($243M) at an average price of $95,972 last week!

Fidelity data shows that as of October 5, 2025, bitcoin treasury firms including Strategy and Strive have used related preferred stock financing to purchase 135,979 BTC, accounting for over 0.5% of bitcoin’s total maximum supply. The market size of this type of preferred stock is approximately $120 billion. Analysts note these firms face a balancing act between using perpetual preferred stock financing to buy bitcoin and sustaining dividend payments. Perpetual preferred stock has no fixed maturity date, easing refinancing pressure and attracting income-focused investors reluctant to hold bitcoin directly. However, as issuance scales up, dividend expenses will rise. Analysts add that sustained financing for bitcoin purchases depends on preferred stock trading at or near par value; if it trades below par, new issuances will become less attractive, and firms may lean toward buybacks. CoinShares Head of Research James Butterfill points out that Strategy’s latest weekly report shows the firm spent $193 million to repurchase STRC, bought only 267 BTC in the same period, and raised its preferred stock repurchase authorization cap to $30 billion. He says buybacks can reduce future dividend costs, but also compete with current bitcoin purchases for capital. Bitwise Head of Research Ryan Rasmussen forecasts that ETFs will remain a larger source of bitcoin demand in the long run, while perpetual preferred stock caters to a distinct group of income-focused investors, providing a second stream of demand support. Butterfill believes preferred stock could amplify market cycles: it supports bitcoin purchases when financing conditions are favorable, but that support weakens when market sentiment deteriorates.

According to Lookonchain’s monitoring, if the market continues to decline, a whale’s long position of 93,184 ETH (valued at approximately $214 million) may face liquidation, with liquidation prices at $2256.45 and $2226.53 respectively.

Don't forget about this massive $ETH bull! If the market keeps dropping, this whale's 93,184 $ETH ($214M) in long positions could get liquidated. Liquidation prices: $2,256.45 and $2,226.53.

According to HTX market data, as Bitcoin pulled back below $80,000, altcoins saw sharp declines. The following tokens recorded notable 24-hour drops: Q is priced at $0.080162, down 34.35%; PHA at $0.0499, down 24.38%; CT at $0.1619, down 22.22%; SOPH at $0.001458, down 17.95%; FARTCOIN at $0.122, down 16.78%; "4" at $0.011367, down 14.99%; WLD at $0.462, down 12.80%; and PONS at $0.2239, down 12.30%.

Machi (@machibigbrother) got liquidated 5 times in just 1 hour! He now has only ~$5K left in his account.

According to HTX market data, Ethereum has fallen below $2,300, with a 4.31% decline in the past 24 hours.