Strategy shares are sliding. Why is MSTR stock falling?

Bitcoin Pulls Back As Fed Signals Weigh On Risk AssetsBitcoin slid under $63,000 after the Federal Reserve delivered a more hawkish tone. Fed Chair Kevin Warsh kept rates unchanged at Wednesday's FOMC meeting but offered no forward guidance, which left markets pricing only a 15% chance that rates remain steady through December. Nine members of the committee already expect a rate increase before the end of the year.Rising two-year Treasury yields mirror patterns seen ahead of earlier tightening cycles, and a stronger dollar at current levels has historically put pressure on crypto prices.Strategy's Preferred Shares Hit New LowsStrategy's STRC preferred shares dropped to a record low of $85.32 before recovering slightly to $86.20, still down 3.15% on the day. A recent rotation narrative that suggested investors were shifting from STRC into Strive's SATA preferred shares for their daily dividend also broke down.MSTR Stock: Critical Support And Resistance LevelsThe broader trend remains weak. Strategy shares have fallen 70.35% over the past year and the stock continues to trade far below every major moving average. At $109.26, the stock sits 20.5% under the 20-day simple moving average at $137.59, 29.3% under the 50-day simple moving average at $154.77 and 43.3% under the 200-day simple moving average at $192.98.Trend structure also leans bearish. The 20-day average is below the 50-day average and the death cross that formed in October 2025, when the 50-day average slipped under the 200-day average, remains in place. These conditions usually keep rallies short-lived until price can reclaim the shorter moving averages and hold above them.Momentum indicators are also soft. MACD is below its signal line and the histogram is negative, which shows that buying pressure is fading compared with the prior upswing. When MACD sits under the signal line, it often signals that buyers are losing control unless momentum can turn back in their favor.Key Support: $104.00 — A nearby level where buyers stepped in previously, sitting directly above the 52-week low at $104.17.MSTR Benzinga Edge Scorecard Overview