MicroStrategy Inc (NASDAQ:MSTR) didn't just follow Bitcoin (CRYPTO: BTC) lower this month — it got dragged behind the pickup truck. After a violent November crypto spill, the stock skidded to $168.11, its lowest level in a year, erasing months of build-up in a matter of weeks. If Bitcoin had a "Black November," MicroStrategy lived through a full-blown horror sequel.
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The YTD scorecard looks equally bruised, with the stock shedding roughly 41% in just the past month and more than 55% over the past year. That's not beta; that's whiplash.
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A Chart That's Not Just Broken — It's Unrecognizable
Chart created using Benzinga Pro
What makes this drop so unnerving is how dramatically MSTR has separated from its own gravitational field. The stock isn't just below its short-term trendlines; it's trading far beneath the long-term ones too — levels it hasn't flirted with since Bitcoin was last in a major drawdown. That long glidepath from the mid-$300s down to the mid-$170s tells the story: every layer of support broke, then broke again.
Even the technical indicators are confused. The RSI (relative strength index) has been crushed into the low 20s, flashing oversold in neon lights, yet the MACD (moving average convergence divergence) is still decisively negative, suggesting the downtrend hasn't found its bottom. It's the worst kind of divergence — when the ‘buy-the-dip’ signal fires, but momentum still points straight down.
Why the Selling Feels Different This Time
Normally, MicroStrategy trades like Bitcoin with torque. This time, it traded like an instrument in forced liquidation. Bitcoin's fall toward the $90Ks flipped sentiment across the crypto complex, but MSTR carried the additional weight of debt-jitters, insider sales, and options markets leaning heavily toward more downside. What should have been a sympathy dip turned into a cascading selloff.
Investment Takeaway: Knife Catch or Opportunity?
At this level, "oversold" is an understatement — the stock has been wrung out. But oversold doesn't automatically mean undervalued, especially when the momentum trend is still pointing lower and Bitcoin hasn't found equilibrium.
If BTC stabilizes, this setup could become the kind of max-pain reversal that only MicroStrategy can deliver. But if the crypto volatility isn't done, the chart suggests there's still empty space below.
Right now, MSTR isn't offering a dip. It's offering a dare.
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