QCP: MicroStrategy increased its BTC holdings this week with the smallest purchase amount in recent weeks, raising market skepticism

ChainCatcher news, MicroStrategy announced on Monday that it spent $561 million to purchase 5,262 bitcoins at an average price of about $106,662 each, bringing the total amount of bitcoins on the software company's balance sheet to 444,262.

However, QCP analysts pointed out, "This is the smallest purchase amount in recent weeks, raising questions about its appetite for buying bitcoins at current levels."

Additionally, analysts at QCP Capital noted in a report on Tuesday that currently, as 2024 approaches, the enthusiasm in the cryptocurrency market seems to be waning. As of Monday, spot bitcoin exchange-traded funds (ETFs) have seen outflows for three consecutive days.