Bitcoin drops below $71,000! Strategy faces a $3.8 billion unrealized loss, Saylor's birthday encounters a "black swan"

Bitcoin prices have fallen sharply over the past 24 hours, briefly dropping below the $71,000 mark. The market experienced a concentrated sell-off, causing the world’s largest Bitcoin holding institution, Strategy, to incur massive unrealized losses. Data shows that the company’s unrealized Bitcoin losses have now reached approximately $3.8 billion.

This decline coincided with Michael Saylor’s birthday, and market volatility has significantly increased. On-chain liquidation data indicates that approximately $777 million was liquidated across the network in the past 24 hours, mainly from long positions, reflecting an acceleration in short-term leverage unwinding.

According to TradingView data, Bitcoin has declined nearly 19% since 2026, and the current price has fallen back to the range seen before the 2024 U.S. presidential election, continuing to put pressure on market confidence.

Strategy currently holds a total of 713,502 BTC, valued at about $54.3 billion, with an average holding cost of around $76,000. At the current price level, the company is clearly in a floating loss, making it one of the most affected institutional investors.

The capital markets have also responded negatively. Its stock, traded under the ticker MSTR, closed down 3% on Wednesday at $129 and continued to weaken after hours. Since its peak in July 2025, the stock has retraced over 70%, with an approximate 15% decline in 2026.

In the context of ETF outflows and declining macro risk appetite, whether Bitcoin can hold the $70,000 psychological level has become a key short-term market focus.