I just glanced at $MSTR ’s tape: it spent ages grinding around 144, with volume only 34M. This is hardly institutions at work — it’s all retail hyping itself up. As for its link to BTC? Same old story. When Nasdaq futures open, it moves first, and only then does BTC slowly catch up, like a supporting character that got the script in advance.
The funniest part on the macro side is that CPI is still clearly hovering above 3%, yet the market has already priced in two rounds of rate cuts by year-end. Liquidity is basically an expectations game: whoever believes first buys first. $MSTR ’s shell just happens to work as a leverage amplifier.
Anyway, to me this move looks more like a warm-up for some speech next week. As for what exactly gets performed, the script was probably written long ago — we just can’t see it clearly from our level. Whether it can hold above 145 into the close today may say even more about the trend than BTC itself.
#MicroStrategy
The funniest part on the macro side is that CPI is still clearly hovering above 3%, yet the market has already priced in two rounds of rate cuts by year-end. Liquidity is basically an expectations game: whoever believes first buys first. $MSTR ’s shell just happens to work as a leverage amplifier.
Anyway, to me this move looks more like a warm-up for some speech next week. As for what exactly gets performed, the script was probably written long ago — we just can’t see it clearly from our level. Whether it can hold above 145 into the close today may say even more about the trend than BTC itself.
#MicroStrategy