## Bitcoin's Sharp Decline Tests Investor Faith

As **Bitcoin** continues its downward spiral, erasing nearly all of its 2025 gains, crypto followers are turning to one of the most vocal evangelists for guidance. **Michael Saylor**, founder of **MicroStrategy** (MSTR), has a clear message for investors: **HODL**.

### Saylor's Unwavering Stance Amid Market Panic

When rumors spread on social media that MicroStrategy was selling Bitcoin during the recent price slide, Saylor quickly dismissed them. The very notion that Bitcoin's best-known bull might be turning tail reveals the deep negativity currently radiating through the market.

In response to growing investor anxiety on X, Saylor posted a powerful image of himself on a life raft as a burning ship sank behind him, accompanied by the simple command: **"HODL"** - an acronym for "hold on for dear life."

### The Current Market Reality

The sell-off in risk assets has hit Bitcoin particularly hard, with the cryptocurrency sinking **below $95,000** on Friday morning to levels not seen since early May. This decline challenges the narrative that Bitcoin serves as a useful hedge against stocks or a safe haven like gold.

**Why This Market Movement Matters:** Bitcoin is often considered a portfolio diversification tool and hedge against traditional markets. However, it's been falling alongside the broader market as sentiment has soured.

### Diverging Performance Among Crypto Stocks

While Bitcoin and some crypto-linked stocks are in retreat, others are showing resilience:
- **MicroStrategy** declined about 4%
- **Coinbase Global (COIN)** and **Robinhood (HOOD)** both gained at least 1%

### Saylor's Current Position and Outlook

Despite the market turmoil, Saylor revealed in a Friday CNBC interview that MicroStrategy has been **"buying quite a lot"** recently. While he stopped short of providing a specific price target given recent volatility, he maintained that Bitcoin will **"outperform"** both gold and the S&P 500 over the long term.

"Obviously it's hard to make a forecast for the end of the year right now given what's happened over the past few weeks," Saylor acknowledged.

### Technical and Sentiment Analysis

The cryptocurrency has now erased almost all of its 2025 gains, significantly lagging behind gold's 50%-plus climb and the broad market's 14% year-to-date rise.

**ETF outflows** are adding pressure: Spot Bitcoin funds including **iShares Bitcoin Trust (IBIT)** and **Fidelity Wise Origin Bitcoin (FBTC)** collectively showed nearly **$867 million in outflows** yesterday, according to Farside Investors.

Crypto analysts are growing increasingly concerned. **Vitaliy Shtyrkin**, chief product officer at B2BinPay, noted that sentiment weakened after Bitcoin fell through a key technical **support zone of $100,000 to $102,000**. **Dean Chen**, an analyst at Bitunix, described the latest decline as more than "a simple technical correction."

### Mixed Expert Reactions

While MicroStrategy continues buying at these levels, other experts are taking a more cautious approach. **Louis Sykes**, senior crypto analyst at All Star Charts, expressed hesitation during an X live-stream: "We're in this awkward in-between zone. I don't want to be buying. Just go play some golf."

This divergence in expert opinion highlights the uncertainty currently gripping the cryptocurrency market as investors weigh whether to follow Saylor's HODL advice or wait for clearer signals.

The world's largest cryptocurrency has erased almost all of its 2025 gains and is now lagging the broad stock market.

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