Strategy, the company formerly known as MicroStrategy, has purchased an additional 13,390 Bitcoin for roughly $1.34 billion, according to a May 12 SEC filing. The purchase brings the firm’s total holdings to 568,840 Bitcoin (BTC), worth over $59 billion at…

Strategy buys $1.34b more Bitcoin, total holdings near $60b

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**Key takeaways:**
 * Possible de-risking ahead of the May 13 CPI print could be playing a role in today&#8217;s BTC price correction. 
 * Bitcoin market structure and qualitative fundamentals remain bullish, suggesting today&#8217;s correction could be short-lived.
Bitcoin (BTC) price briefly stumbled on May 12, falling to $102,388 after 
hitting an intraday high at $105,819 during the US trading session. At first 
glance, the abrupt correction seemed unexpected given the positive news of the 
day. Since Sunday evening (May 11), mainstream media headlines have reported 
on the positive headway made in the US-China trade talks occurring in 
Switzerland, and throughout the evening, President Trump ran his victory lab 
via Truth Social posts heralding the positives of the deal.
&gt; BREAKING: U.S. Announces China Trade Deal in Geneva 
&gt; pic.twitter.com/JjgvYAvAGe 
&gt; 
&gt; &#8212; The White House (@WhiteHouse) May 11, 2025
As news of the tentative deal broke, US equity futures markets soared, and 
these gains materialized into a 1,000-point rally in the Dow at the opening 
bell. Looking beyond the temporary resolution of the US-China trade war, 
Bitcoin has racked up back-to-back wins over the past two weeks. On May 12, 
Strategy CEO Michael Saylor announced that the company had acquired 13,390 
Bitcoin, bringing its total balance to 568,840 BTC.
On the same day, shares of healthcare company KindlyMD surged up to 600% after 
announcing the merger with Nakamoto Holdings, a Bitcoin investment company 
founded by David Bailey, who is Trump&#8217;s current crypto adviser. The month of 
April followed a similar trajectory to today, where frequent Bitcoin treasury 
creation announcements were made by an assortment of US-based and 
international companies.
_**Related:**__**US real estate asset manager launches $100M tokenized fund 
with institutional backing**_
## Profit taking and de-risking drive the current Bitcoin price correction
While Bitcoin&#8217;s mass adoption appears to be accelerating, data from Glassnode 
suggests that BTC price could be in for a brief period of consolidation after 
gaining 9% in the last week. The onchain analytics firm posted the following 
chart and warned that:
&gt; &#8220;BTC Supply Mapping shows sustained strength in new demand. First-Time 
&gt; Buyers RSI has held at 100 all week. But Momentum Buyers remain weak (RSI 
&gt; ~11), and Profit Takers are rising. If fresh inflows slow, lack of follow- 
&gt; through could lead to consolidation.&#8221;
At major crypto exchanges, there was an uptick in selling in perpetual futures 
markets, and selling was also seen in spot markets as BTC price rallied into a 
sell wall near $106,000.
From a trader&#8217;s point of view, a portion of the selling could be possible 
derisking ahead of the May 13 Consumer Price Index (CPI) inflation report, 
along with the view that the Trump trade deal with China is now priced in 
after BTC failed to rally and hold above $104,000 on such momentous news.
_BTC/USD spot and futures CVD. Source:__TRDR.io_ _ _
Leading into the trade war news, the US Dollar Index (DXY) rallied and stock 
indexes soared. Seeing Bitcoin failing to break and hold $104,000 to $105,000 
prior to stock futures opening and then BTC being unable to follow equities 
opening bell gains in the NY session suggests some traders elected to close 
profitable longs ahead of tomorrow&#8217;s CPI or before the current bid appetite 
shifts to lower price levels.
_BTC/USDT futures 1-hour chart. Source: Velo_
This view can be interpreted by the chart above, showing open interest rising 
hour-over-hour, along with an abrupt spike in the funding rate as short 
positions opened and longs were liquidated.
Spot purchasing played a significant role in last week&#8217;s Bitcoin price rally, 
and the May 12 announcement from Strategy and spot BTC ETF inflows of the past 
7 days raises more immediate concerns of whether the type of buying appetite 
seen since late April will spill over into another week.
_Spot Bitcoin ETF net inflows (weekly). Source: SoSoValue_
Considering the accelerating pace of Bitcoin adoption within traditional 
finance and the rapidly improving crypto regulatory environment, the current 
price action appears to be a short-term technical correction. Perhaps, 
dependent upon tomorrow&#8217;s CPI print, spot and margin longs will return in 
force once the market digests the details of the report.
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Bitcoin short-term ‘technical sell-off’ under $100K possible ahead of May 13 CPI print

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