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Following
BTC Core Highlights
- The repurchase program doubled in size, but common shareholders failed to benefit
- Technical indicators sent caution signals
MSTR shares fell as Bitcoin fell below the $80,000 mark
Strategy (MSTR) fell about 3.9% in early trading on Monday, hitting an intraday low of $135.38. Bitcoin also fell below the psychological barrier of $80,000 and closed around $79,116, a decline of more than 1.5%. Given the stronger-than-expected employment data in August (162,000 new jobs were created, well above the expected 55,000), the probability of a market rate hike has increased, putting pressure on speculative assets, including cryptocurrencies.
Strategy (MSTR) fell nearly 4% during Monday's trading session, opening at $137.30, and finally closing at $137.35, down $5.46, or 3.82%, from the previous session. The stock hit an intraday low of $135.38, a significant correction from its 52-week high of $365.21.
The main catalyst for this sell-off was the performance of Bitcoin. On Monday, the leading cryptocurrency fell below the important psychological level of $80,000 to close around $79,116, a decline of more than 1.5%. Given that MSTR is seen as a leveraged alternative investment target for Bitcoin, a decline in BTC typically triggers stronger selling pressure on the stock.
Macroeconomic conditions exacerbate this negative sentiment. The employment report released Friday showed that 162,000 jobs were added in August, significantly exceeding the market consensus forecast of 55,000. Such significant over-expected growth increases the possibility of further interest rate hikes, putting downward pressure on speculative assets such as cryptocurrencies and related stocks.
Broader stock market indices also reflect this caution. The S & P 500 fell 0.4%, the Nasdaq Composite Index fell 0.4%, and the Dow Jones Industrial Average fell 0.8%.
Repurchase plan doubled, but common shareholders were excluded
Strategy announced that its board of directors approved the expansion of its digital credit securities repurchase program from US$1 billion to US$2 billion. While this may seem good news at first glance, details suggest limitations.
This repurchase authorization only covers STRC preferred shares. During the most recent reporting period, no MSTR common shares were repurchased, which means that ordinary equity holders did not benefit directly from the plan.
Strategy has bought back $176 million worth of $STRC and increased the size of its digital credit securities repurchase program from $1 billion to $2 billion. As of September 7, 2026, we held 845,050 $BTC and US$6.5 billion in US dollar assets.@ saylor September 8, 2026
CEO Michael Siler shared his views on Bitcoin credit performance indicators, emphasizing that the STRC's Bitcoin credit spread narrowed by 1 basis point to 53 basis points. He described it as evidence of the increased stability of the company's bitcoin mortgage instrument. However, market participants responded lackluster.
Technical indicators signal caution
From a chart perspective, the MSTR is above the 20-day moving average (US$115.53) and 50-day moving average (US$103.51), which are often considered bullish indicators.
However, the 200-day moving average of $139.09 poses a challenge. The stock is currently trading slightly below that threshold, and the moving average is acting as a drag and limiting upward momentum.
The technical oscillator shows an overbought reading, suggesting further declines are possible in the short term. The five-day expected trading range is US$132.00 to US$143.50, and market analysts expect either consolidation or continued decline in the short term.
One highlight from Canaccord Genuity is that the company raised its target price for MSTR to $179 from the previous $175 while reiterating its buy rating. However, the slight increase was not enough to offset Monday's sell-off.
Strategy's Bitcoin holdings and reserve levels remain stable, while the 200-day moving average of $139.09 remains a key technical threshold worthy of close attention.
