Global crypto hedge funds are seizing the dip, signaling a potential “supply shock” for Bitcoin as BTC reserves on exchanges hit lows unseen since 2018.
MicroStrategy Milestone
MicroStrategy has reached a pivotal point, now holding over 450,000 BTC acquired at an average price of $62,691. Recently, it purchased $243 million worth of Bitcoin at an average price of $95,972. Founder Michael Saylor announced this on January 13 via X.

This purchase occurred during a week-long correction, with Bitcoin trading below the psychological $100,000 mark since January 7.
Supply Shock Effects
Bitcoin reserves on exchanges dropped to a seven-year low on January 13, suggesting a supply squeeze. A “supply shock” occurs when high buyer demand clashes with reduced BTC availability, often leading to price surges.
Macroeconomic Challenges
Bitcoin hit an all-time high of $100,000 on December 6, 2024, shortly after Donald Trump’s re-election. However, markets have since priced in the optimistic sentiment surrounding his administration, leaving Bitcoin “vulnerable to macroeconomic factors.”

Bybit Research highlights that Bitcoin has resumed reacting to macroeconomic news, particularly the Federal Reserve’s slower-than-expected rate cuts. Strong U.S. labor market data, such as the JOLTS report on January 9, has also pressured Bitcoin, pulling it below $92,000.
Ryan Lee, Bitget Research’s lead analyst, cites Federal Reserve tightening as a key driver of Bitcoin’s decline. With economic resilience delaying rate cuts, CME Group’s FedWatch tool now forecasts the first rate reduction for July 30, 2025.
Corporate Interest Amidst Uncertainty
Despite macroeconomic concerns, other firms are also buying Bitcoin dips. On January 13, Nasdaq-listed Semler Scientific disclosed the acquisition of 237 BTC for $23.3 million, purchased at an average price of $98,267.
Bitcoin’s Vulnerability to Macroeconomic Factors
Bitcoin reached a record value of $100,000 on December 6th, 2024, one month after Donald Trump’s victory in the 2024 U.S. presidential elections.
However, the markets have already “priced in” the positive news surrounding Trump’s upcoming administration, making them “vulnerable to macroeconomic factors,” according to Bybit Research: “Bitcoin and cryptocurrencies began responding to macroeconomic news again at the end of 2024 and into early 2025, especially regarding the slower pace of interest rate cuts expected by the Federal Reserve in the new year.”
The drop in Bitcoin below $92,000 was primarily due to the stronger-than-expected report on job openings and employee turnover (JOLTS), released on January 9th, which “confirmed the strength of the U.S. labor market,” according to Bybit researchers. Other analysts also believe that macroeconomic factors are the main reason for Bitcoin’s drop.
More specifically, the correction in Bitcoin was driven mainly by growing concerns about tightening monetary policy from the U.S. Federal Reserve in 2025, according to Ryan Lee, chief analyst at Bitget Research.
The analyst told Cointelegraph: “The drop in Bitcoin is primarily due to strong U.S. economic data, which points to possible interest rate hikes. This development makes cryptocurrencies less attractive as investments…”

Signs of economic resilience have delayed expectations for a potential interest rate cut by the Federal Reserve. According to the latest projections from CME Group’s FedWatch tool, markets now expect the first interest rate cut to occur on July 30th.
Despite concerns related to interest rates, other companies are also buying the Bitcoin dip. On January 13th, Nasdaq-listed company Semler Scientific announced the purchase of 237 BTC worth $23.3 million at an average price of $98,267.
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