Strategy (MSTR) Stock Trades Down, Here Is Why

What Happened? Shares of bitcoin development company Strategy (NASDAQ:MSTR) fell 6.5% in the afternoon session after Bitcoin dropped below $84,000 amid broad, leverage-driven selling across the cryptocurrency market. According to the Crypto Times and CoinDesk, Bitcoin fell more than 3% to approximately $83,700, leading to more than $166 million in liquidated Bitcoin positions across the cryptocurrency market. The digital asset came under pressure as a global bond selloff drove the U.S. 30-year Treasury yield to 5.715% alongside a rising U.S. Dollar Index. The broader bond market rout and stronger dollar contributed to selling pressure that dragged several cryptocurrency-linked stocks toward September lows.