![MicroStrategy bitcoin purchases graph1](https://images.ctfassets.net/i0qyt2j9snzb/2TWGSQhJguEjtH45EYNcb7/666c117012bc93efb7fa7a2b1d9390b3/MicroStrategy_bitcoin_purchases_graph1.png?fm=avif)
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The market dislikes major MicroStrategy BTC purchase announcements
Monday’s adverse market reaction following MicroStrategy purchase announcements is typical, as BTC’s daily return is averaging at -2.2% on MicroStrategy announcement days. The average 7-day return is more balanced at -0.2%. As elaborated above, this market reaction may be caused by market participants absorbing the information that a known large buyer has finished, meaning less buy-side liquidity to support further upside.![MicroStrategy bitcoin purchases graph2](https://images.ctfassets.net/i0qyt2j9snzb/7MjO4EDfOxAstSjQGrJ5BD/496969a6c5475a3f9f10fb490665ccda/MicroStrategy_bitcoin_purchases_graph2.png?fm=avif)
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