Bitcoin has dropped below $106,000, reflecting a broader decline in cryptocurrency prices, with over $1 billion in leveraged positions liquidated. Despite the downturn, some analysts maintain bullish predictions for Bitcoin and Ethereum by year-end. Concerns about volatility driven by leveraged trading are also rising.

A trader who previously made $192 million by shorting Bitcoin during a recent market crash has opened a new $163 million short position on the cryptocurrency, raising speculation about possible insider knowledge due to the timing of a recent tariff announcement. Operating on the decentralized exchange Hyperliquid, the trader's position is highly leveraged and has already yielded profits, contributing to concerns about market stability amid ongoing volatility.

The article discusses key lessons learned from the management of Bitcoin treasuries, focusing on best practices and strategies for effectively handling cryptocurrency assets. It emphasizes the importance of risk management and the impact of market volatility on treasury operations.

Strategy, formerly MicroStrategy, has established itself as a leading corporate proxy for Bitcoin in 2025 by raising $5.6 billion through preferred shares (STRK, STRF, STRC, STRD). While the performance of these shares varies, the company now holds over 632,000 BTC, representing 12% of U.S. IPO issuance, and highlights the growing investor interest in cryptocurrency-linked investments.