Strategy is increasingly turning to perpetual preferred stocks to fund its Bitcoin strategy, with the company adding 90,000 BTC to its balance sheet so far this year. Michael Saylor’s Strategy has announced several capital-raising programs totaling $44.1 billion to fund Bitcoin purchases, including the sale of common shares and two of its dividend-paying equity vehicles. Strategy plans to raise up to $21 billion by selling Strategy (MSTR) stock and another $21 billion from its high-yield perpetual preferred stock, Stretch (STRC), via new at-the-market programs, the company said in an 8-K filing to the US Securities and Exchange Commission on Monday. Strategy also intends to sell up to $2.1 billion worth of Strike (STRK) — another of its perpetual preferred stock offerings. The company didn’t specify a timeline for the issuances, stating that shares may be sold “from time to time.” Read more
Rising inflation concerns weigh on Bitcoin’s breakout as traders refuse to take on bullish positions, despite Monday’s 4% price bounce. Key takeaways: Bearish Bitcoin futures premiums and low call option odds suggest traders remain skeptical despite BTC’s brief 4% relief rally. High oil prices and cautious Fed policy continue to pressure risk assets, while Bitcoin derivatives metrics signal a lack of conviction. Read more
Bitcoin price topped $71,600 at the US market open, but the rally lacked sustained spot volumes. Can the bulls hold BTC above $70,000? Bitcoin (BTC) spot volumes on Binance have dropped to their lowest level since September 2023, indicating that the current intraday price rise may not be backed by strong demand. The rally above $71,700 on Monday appears to be driven mainly by news headlines and liquidations in the Bitcoin futures markets. Crypto analyst Darkfost said that March is on track to record the lowest Binance spot volume since Q3 2023, at roughly $52 billion, compared to the $88 billion recorded in September 2023. The activity levels align with the prior bear market conditions, pointing to the reduced participation. Read more
BTC price action looked weaker after Sunday's weekly close below the 200-week MA, with Bitcoin market participants bracing for lower levels. Bitcoin’s (BTC) failure to close the week above the 200-week exponential moving average (EMA) on Sunday put it at risk of another downward leg over the coming weeks or months. Key takeaways: Bitcoin price signals “structural weakness” with failure to close week above a key trend line. Read more
Bitcoin moved back above $71,000 after US President Donald Trump postponed Iran strike for five days, sending oil price crashing below $100. Bitcoin (BTC) broke back toward $71,000 during Monday’s European trading session as US President Donald Trump said attacks on Iran’s power infrastructure would be postponed. Key takeaways: Bitcoin bounces 5% to $71,000 after President Trump said US attacks on Iran's infrastructure would be postponed. Read more
Strategy bought 1,031 Bitcoin for $76.6 million, lifting holdings to 762,099 BTC, as the company relied on common stock sales to fund the purchase. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin (BTC), bought another 1,031 Bitcoin last week in a much smaller purchase than its previous two weekly buys, funding the acquisition with sales of Class A common stock. Strategy acquired 1,031 Bitcoin for $76.6 million last week, according to an 8-K filing with the US Securities and Exchange Commission on Monday. The purchases were made at an average price of $74,326 per coin, below the company’s overall average acquisition price of $75,694. Bitcoin averaged around $70,871 for the week of March 16-22, based on daily closing prices. Read more
Bitcoin traders kept sub-$50,000 BTC price targets in play as gold entered a bear market over Iran and oil-supply instability. Bitcoin (BTC) starts a new week facing fresh macro risks as gold plummets and traders wait for $50,000. BTC price action ends the week below a key trend line, and traders see little more than an early-week bounce for bulls. Price looks more and more like it is repeating January’s bear flag — and targets now call for new multiyear lows. Read more
H100 signed a letter of intent to acquire two Bitcoin treasury companies and their BTC holdings, which could make it the second-largest Bitcoin treasury company in Europe. Sweden-listed health-tech and Bitcoin (BTC) treasury company H100 Group has entered into a letter of intent (LOI) with the shareholders of privately-held Norwegian Bitcoin companies Moonshot and Never Say Die to acquire all shares of the target companies in exchange for newly issued H100 stock. The proposed transaction would be completed with newly issued H100 shares and no cash consideration, a structure intended to preserve the sellers’ Bitcoin exposure while moving the assets into a larger listed vehicle, according to a Monday press release. A definitive agreement is expected by April 22, with closing targeted after H100’s annual general meeting. H100’s public materials currently show inconsistent AGM dates: its investor-relations calendar lists April 21, while a March 12 company notice referred to an AGM on May 21. Read more
Part of the approved rule changes allows institutions to trade the crypto ETFs as FLEX options, which offer customizable terms like non-standard strike prices and expiration dates. Two New York Stock Exchange-affiliated exchanges have removed the 25,000 contract position limit on options tied to 11 crypto exchange-traded funds. NYSE Arca and NYSE American each filed three rule changes in the Federal Register on March 10 to remove contract position limits and price discovery restrictions for options linked to Bitcoin (BTC) and Ether (ETH) ETFs listed on their exchanges. These were acknowledged by the Securities and Exchange Commission on Sunday, with the SEC waiving the standard 30-day waiting period for both sets of proposed rule changes, meaning they are now in effect. Read more
Bitcoin fell over the weekend to set up another visit to "unreliable" support, but analysis flagged a new BTC price golden cross. Bitcoin (BTC) traded below $69,000 on Sunday as the market faced a critical weekly candle close. Key points: Bitcoin approaches its 200-week trend line after sinking throughout the weekend. Read more
Bitcoin’s 20-week rolling correlation with the S&P 500 has turned positive, a signal that has historically preceded major BTC price declines. Bitcoin (BTC) erased much of its US-Iran war-driven gains this week, moving back in sync with the broader downtrend in risk assets, mainly US equities. Key takeaways: Bitcoin’s positive flip in S&P 500 correlation has historically preceded average declines of around 50% since 2018. Read more