Crypto Investors Buy The Dip As Bitcoin Drops Below $90K

Crypto Investors Buy The Dip As Bitcoin Falls Below $90K, FARTCOIN, HYPE, And RAY Lead Rebound

Updated: 14 January 2025

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The crypto market recovered after its latest correction, which saw Bitcoin (BTC) drop below $90K in the last 24 hours, as Fartcoin (FARTCOIN), Raydium (RAY) and Hyperliquid (HYPE) lead the rebound.

BTC plunged to as low as $89.260.10 during yesterday’s trading session, CoinMarketCap data shows. It has since surged back to trade at $94,885.09 as of 1:46 a.m. EST.

FARTCOIN, HYPE, And RAY Lead Crypto Market Recovery

Meme coin FARTCOIN posted the biggest gain over the past 24 hours among major cryptos after its price soared more than 34% to trade at $1.04. This surge, however, was not enough for the altcoin to erase its losses over the last week. As a result, the meme coin is still over 12% in the red on the 7-day time frame.

RAY posted a more than 8% gain throughout the past day of trading, making it the second-best 24-hour performer in the market, while HYPE recorded an 8% increase in price as well.

RAY is still down more than 13% over the past 7 days while HYPE’s weekly losses stand at more than 15%.

MicroStrategy, BlackRock And Semler Scientific Continue To Buy Bitcoin

The recent drop in prices might have spooked some investors, but overall sentiment in the market still shows “Greed,” according to the Crypto Fear and Greed Index. Institutions have also continued to add to their BTC positions.

MicroStrategy has acquired 2,530 BTC for ~$243 million at ~$95,972 per bitcoin and has achieved BTC Yield of 0.32% YTD 2025. As of 1/12/2025, we hodl 450,000 $BTC acquired for ~$28.2 billion at ~$62,691 per bitcoin. $MSTR https://t.co/qONdrIwz7Q

— Michael Saylor⚡️ (@saylor) January 13, 2025

Frontrunner MicroStrategy bought the dip with a $243 million Bitcoin investment, pushing the company’s total BTC holdings to above 450,000 coins. Healthcare technology company Semler Scientific also disclosed a recent $23 million BTC purchase.

Meanwhile, BlackRock’s IBIT spot BTC ETF (exchange-traded fund) recorded $9.5 million in inflows yesterday. It was the only US Bitcoin ETF to record positive net flows yesterday, as investors pulled out a combined $284.1 million from the funds.