Schaeffers Investment Research·2026-02-02 15:47Market Overview - Bitcoin (BTC) has experienced a significant selloff, dropping below $80,000 for the first time since April, with over $2 billion in long and short positions liquidated since Thursday [1] - Cryptocurrency-related stocks are under pressure due to the decline in Bitcoin's value [1] Company Insights - Strategy Inc (NASDAQ:MSTR), the largest holder of Bitcoin, purchased an additional 855 Bitcoin for approximately $75.3 million this past week, despite its shares being down 56% year over year [2] - MSTR shares were last seen trading at $145.16, having hit a 52-week low of $138 [2] - Coinbase Global Inc (NASDAQ:COIN) shares are down 2.9% to $187.24, marking a 10th consecutive daily loss and a 35.8% decline over the past 12 months [3] Short Selling Activity - In the last two weeks, investors have been buying back shorted shares of MSTR and COIN, although the stocks continue to decline [3] - Currently, 11.8% of MSTR's available float is sold short, while 7.5% of COIN's shares are shorted [3]