Strategy’s STRC fell sharply after the U.S. market open, dropping 8% to $74.13. That move left the product trading more than 25% below the company’s stated $100 nominal value. STRC carries an annual dividend yield of 11.5%, and the slide quickly pushed attention back to Strategy’s Bitcoin-centered balance sheet.
Pressure was not limited to STRC. Strategy’s common stock, MSTR, also came under heavy selling and fell 7% during the session to $87.50, before recovering slightly to $87.89. After a string of steep losses, the market has started questioning the credibility of the company’s so-called digital credit approach.
STRC and MSTR both came under selling pressure
Trading data from the U.S. session showed broad weakness across Strategy-linked instruments. STRC extended its decline soon after the bell and hit $74.13, while MSTR slipped hard intraday before trimming part of the loss later in the day. Under Michael Saylor, Strategy has become closely identified with an aggressive Bitcoin treasury model, tying its listed products more tightly to crypto market swings.
The day’s side-by-side pricing captured the scale of the move: STRC was down 8% at $74.13, MSTR was down 7% at $87.89, and Bitcoin was down 3.3% over 24 hours at $59,273. The declines hit multiple layers of the trade at once.
Bitcoin touched $58,188 as liquidations accelerated
CoinGecko data showed Bitcoin falling as low as $58,188 during the session before a limited rebound to $59,273. The move came a day after Bitcoin dropped to a 21-month low, extending the selloff rather than stabilizing it. Price action remained weak and choppy.
Volatility spilled into derivatives quickly. CoinGlass reported more than $1.44 billion in liquidations over the past 24 hours, including $1.2 billion from long positions. Bitcoin alone accounted for $658 million in forced closures. The latest drop was hitting spot prices, leveraged trades, and public-market products tied to crypto exposure at the same time.