On September 23, Strategy declined 3.09% in regular trading, trading at $162.331 per share, with turnover of approximately $2.453 billion. The pullback follows a sharp rally in recent sessions, as bitcoin retreated from its eight-month high and crypto-related equities gave back gains.

Bitcoin pulled back below $86,000 after surging to as high as $87,381 earlier, marking its highest level since January. The rapid advance of over 13% in four days triggered profit-taking and position adjustment. Market participants noted that while momentum had attracted sidelined capital back into the market, the speed of the rally raised concerns about sustainability, particularly given macro headwinds including elevated oil prices and a strong dollar.

Strategy, as the largest corporate bitcoin holder with approximately 846,000 BTC, saw its stock closely track bitcoin's retreat. The company had recently resumed purchases after a three-week pause, acquiring 950 BTC for $75.7 million at an average cost of $79,670. Meanwhile, options market data showed a notable bearish shift, with a $1.45 million bear put spread and multiple far-month call selling strategies indicating large-order funds positioning for limited upside or moderate downside in the near term.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)