Bitcoin (BTC) has rebounded after hitting a low of $106,279 on Thursday. The flagship cryptocurrency is up over 1% during the ongoing session, trading around $109,777. BTC slumped despite the Federal Reserve's announcement of a rate cut and a positive meeting between President Trump and Xi Jinping. Meanwhile, recent jobs data and other economic indicators have pointed to a slowing economy. Strategy Unlikely To Acquire Rival Treasury Firms Strategy executive chairman Michael Saylor has dismissed talk about acquiring other Bitcoin treasury companies, stating that there was too much risk involved. “Generally, we don’t have any plans to pursue M&A [merger and acquisition] activity, even if it would look to be potentially accretive. There’s just a lot of uncertainty, and these things tend to stretch out six to nine months or a year. An idea that looks good when you start might not still be a good idea six months later.” However, Saylor did not entirely rule out acquiring a competing firm in the future, stating, “I don’t think we would ever say ‘we would never, never, never, ever,’ but what we would say is the plan, the strategy, the focus is to sell digital credit, improve the balance sheet, buy Bitcoin, and communicate that to the credit and the equity investors.” Meanwhile, Strategy CEO Phong Le stated that mergers and acquisitions for software companies, Strategy’s primary business focus, are difficult. “There’s always something hiding behind what you actually think you purchase. I would say the same thing about acquiring Bitcoin treasury companies.” Several analysts have stated that Bitcoin treasury companies may need to start buying each other as competition grows. Strive has become the first Bitcoin treasury company to complete a merger, acquiring rival Semler Scientific in an all-stock deal. The new entity will hold over 11,000 BTC , making Strive the 12th largest public Bitcoin holder. Strategy Shares Rise As Firm Reports Q3 Numbers Strategy shares rose nearly 6% during after-hours trading after the Bitcoin treasury company reported a net income of $2.8 billion during its third quarter, beating analyst expectations. The firm reported diluted earnings per share of $8.42 for the three months ending September 10, exceeding expectations of $8.15. The $2.8 billion income during Q3 is a significant jump from the $340 million loss posted at the same time last year. However, it is a significant drop from its record $10 billion net income recorded in Q2. Strategy is the largest public holder of Bitcoin , with its current stockpile valued at over $73 billion. BTC’s recent rally to $116,000 helped push Strategy’s income higher. However, its subsequent decline squeezed Strategy’s mNAV to 1.05x, a substantial drop from a peak of 3.89x in November. Bitcoin ETFs Register Substantial Outflows Bitcoin and Ethereum ETFs registered combined outflows of $672 million on Thursday. Asset managers pulled $490 million from spot Bitcoin ETFs on October 30. BlackRock’s IBIT registered $290 million in outflows, while Fidelity, Bitwise, ARK, Invesco, VanEck, and Grayscale also reported heavy outflows. “Institutions are still trimming risk, BTC and ETH spot ETFs saw heavy outflows, led by BlackRock’s IBIT and ETHA, totaling $488 million and $184 million.” The outflows come at a time when BlackRock is facing scrutiny after revelations of large-scale fraud in its private credit division, increasing investor anxiety. Bitcoin (BTC) Price Analysis Bitcoin (BTC) endured a difficult week, extending its decline to slip below $110,000. The flagship cryptocurrency fell to an intraday low of $106,279 on Thursday, before rebounding to reclaim $109,000. Market sentiment turned bearish after Federal Reserve Chair Jerome Powell stated that rate cuts in December were not a foregone conclusion. The Fed’s hawkish stance could strengthen the dollar and impact investor sentiment around risk assets like Bitcoin. Additionally, the ongoing US government shutdown has heightened economic uncertainty, with key economic data delayed. The US-China trade talks also failed to cheer markets. US President Donald Trump announced that China will resume soybean purchases and pause export controls on rare earth minerals. BTC ended the previous weekend in positive territory, rising 1.37% on Sunday and settling at $108,676. Buyers retained control on Monday as the price rose nearly 2% to reclaim $110,000 and settle at $110,568. BTC surged to an intraday high of $114,082 on Tuesday. However, it lost momentum after reaching this level and dropped 1.99% to $108,362. Selling pressure persisted on Wednesday as BTC fell 0.72% to a low of $106,639 before settling at $107,585. Despite the selling pressure, the price recovered on Thursday, rising over 2% to cross $110,000 and settle at $110,116. BTC continued pushing higher on Friday, rising almost 1% to $111,042. Price action remained positive over the weekend, with BTC increasing 0.56% on Saturday and settling at $111,666. Bullish sentiment intensified on Sunday thanks to positive macroeconomic developments, including positive trade talks between the US and China, and rising odds of a rate cut. As a result, BTC rose 2.58% to cross $114,000 and settle at $114,548. Source: TradingView BTC reached an intraday high of $116,410 on Monday. However, it lost momentum after reaching this level and settled at 114,087, ultimately dropping 0.40%. BTC rallied to an intraday high of $116,114 on Tuesday as bullish sentiment persisted. However, it lost momentum again and dropped over 1% to $112,906. Selling pressure intensified on Wednesday as the price fell nearly 3% and settled at $110,032. BTC plunged to an intraday low of $107,924 during the ongoing session. Volatility and selling pressure increased on Thursday as the price fell to a low of $106,279 before settling at $108,308. The flagship cryptocurrency is up nearly 1% during the ongoing session, trading around $109,990. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.