MicroStrategy, the business intelligence firm led by executive chairman Michael Saylor, has executed another massive Bitcoin purchase, acquiring 17,994 BTC for approximately $1.28 billion. The purchase occurred between March 2 and March 8, 2026, at an average price of $70,946 per Bitcoin, according to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC). This acquisition brings MicroStrategy's total Bitcoin holdings to a staggering 738,731 BTC. The company funded the purchase with approximately $1.276 billion in net proceeds raised from the sale of common and preferred stock during the same period.
Concurrently, several major altcoins are exhibiting technical signals suggesting potential market rebounds. Dogecoin (DOGE) has seen its trading volume surge by 87.16% to $1.12 billion in 24 hours, driven by a derivatives-led volume spike and notable whale accumulation, including a single long position of $359,000 on Binance futures. The meme coin has also formed a "golden cross" technical pattern, where its short-term moving average crosses above its long-term average, often interpreted as a bullish signal for a potential price recovery.
XRP is showing signs of stabilization after months in a downtrend, with its price compressing near the $1.34 mark. Analysts note the formation of an ascending support line and converging moving averages, a structure that frequently precedes a market rebound. The asset faces a critical test at the 26-day exponential moving average, a level that has consistently acted as resistance; a breakout above it could signal a shift in short-term momentum.
Elsewhere in the market, Shiba Inu (SHIB) posted a sharp 8% rebound, pushing its price toward $0.0000058 after finding support near $0.0000055. This move, characterized as a relief bounce from oversold conditions, highlights the volatile nature of speculative assets. Meanwhile, Bitcoin (BTC) has reclaimed the psychologically significant $70,000 level, a key development after weeks of volatility. This move above a major pivot point suggests buyers are defending higher price zones and could indicate the beginning of a broader trend reversal, though market volatility is expected to remain elevated.
