๐ BTC Inflection โ The 27 April 8-K Watch Bitcoin is trading like a market with one massive safety net: Strategy.
๐ BTC Inflection โ The 27 April 8-K Watch Bitcoin is trading like a market with one massive safety net: Strategy. The to-go version: ๐น The Big Bid: Strategy bought 34,164 BTC ($2.54B) last week.
Total holdings: 815,061 BTC. ๐น March: Last month, buying stopped post-dividend and BTC flushed to $70k. ๐น April: So far, BTC is holding $77.5k. The market is betting the bid is still there. ๐น The Pivot Date?: 27 April. The 8-K filing will reveal if they continued buying post-dividend.
If common ATM issuance is north of $150M, the bull run has legs. The Bottom Line: Strategy is the marketโs marginal buyer. If they step back, we find out what “organic” demand really looks like.