The market is unafraid of the US downgrade, Bitcoin returns to 105K, MicroStrategy buys BTC again.

International credit rating agency Moody (Moody’s) downgraded the U.S. sovereign credit rating from AAA to Aa1, triggering a surge in U.S. Treasury yields on Monday (5/19). U.S. stocks plummeted in early trading, but as the market gradually digested the impact of the credit rating, Treasury yields fell back from their highs, and the three major indices ultimately stabilized, with the S&P 500 index slightly up. After a volatile session, Bitcoin returned to 105K this morning, while MicroStrategy announced further purchases of Bitcoin; despite facing a class-action lawsuit, MSTR’s stock price still rose by 3.41% yesterday.

(Why did the US national debt downgrade? What impact does it have on Taiwan, which holds a large amount of US debt? Research institution: Technically, there has been no change in the credit rating)

The market quickly digests the risk of Moody’s downgrade.

The three major credit rating agencies in the United States, Moody’s, announced on the 16th after the New York market closed that it has downgraded the U.S. credit rating from the top Aaa to Aa1, primarily due to the continuously expanding fiscal deficit and the inability of House Republicans to pass a large-scale tax cut and spending reduction plan.

But the other two rating agencies, Standard & Poor’s (S&P) downgraded as early as 2011, while Fitch (Fitch) made the downgrade in 2023. The market quickly digested the risks of this downgrade.

Most analysts believe that Moody’s downgrade of the rating will not have much of an impact, and the market has also seen buying interest in a “buying on dips” strategy.

Bitcoin surged and then corrected back to 105K, MicroStrategy bought Bitcoin again.

Bitcoin surged to 107K during the Asian early session yesterday, then fell back to 102K, and before the press deadline, it was reported at 105,647 USD. The ups and downs have left new traders facing liquidation again. According to Coinglass data, in the past 24 hours, positions worth 102 million USD in Bitcoin were liquidated, while Ethereum saw 112 million USD.

MicroStrategy founder and long-time Bitcoin believer Michael Saylor not only urged everyone to buy Bitcoin quickly on X, but the company also led by example, sweeping up 7,390 Bitcoins again last week! Although the company faced a class-action lawsuit accusing it of misleading investors, MSTR’s stock price still rose 3.41% yesterday, up 37% year-to-date, outperforming Bitcoin.

(MicroStrategy’s latest financial report reveals: purchased 7,390 Bitcoins in a week, facing a class-action lawsuit for misleading investors)

This article discusses how the market is undeterred by the U.S. downgrade, with Bitcoin returning to 105K, and MicroStrategy buying BTC again, first appearing on Chain News ABMedia.