Before MicroStrategy Q1 results, BTC consolidates, strategic Bitcoin reserve deadline

Bitcoin price is consolidating around $95,000 on Wednesday, awaiting a breakthrough.

MicroStrategy's Q1 results announcement and the Strategic Bitcoin Reserve deadline might affect BTC price.

US spot Bitcoin ETFs received $172.78 million on Tuesday, extending its April 17 inflows.

Bitcoin (BTC) traded at $95,000 on Wednesday, extending its consolidation streak to five days. Investors await a breakthrough. K33 reports that MicroStrategy's Q1 earnings announcement and the Strategic Bitcoin Reserve deadline are important this week.

Institutional demand for Bitcoin continues high, as US spot Exchange Traded Funds (ETFs) took in $172.78 million on Tuesday, maintaining the favorable trend observed since April 17.

As MicroStrategy virtually emptied its $21 billion at-the-market (ATM) shelf offering this week, the K33 report expects strong news from its Q1 results presentation on Thursday. The expert said MSTR's $21 billion ATM,

Only $128.7 million of the $21 billion ATM offering remained six months after this announcement. However, convertibles and perpetual preferred stock issues Strife (STRF) have proceeded slowly.

Given the sustained strong MSTR premiums, the analyst expects a new ATM announcement during the results conference, similar to the 21/21 plan announcement in Q3. An announcement like this might boost BTC.

Bitcoin institutional demand has been robust this week. SoSoValue data shows that US spot Bitcoin ETFs received $172.78 million on Tuesday, maintaining the pattern of inflows since April 17. If inflows increase, Bitcoin prices may rise.


After breaking over its 200-day EMA at $85,000 early last week, bitcoin rallied 11.14% through Friday. BTC has lingered around $95,000 for four days after failing to close above it in March.

A daily break and close over $95,000 might continue the rise to $97,000, its next daily barrier. A closing above this level might continue advances to retest psychological resistance above $100,000.

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