#SaylorBTCPurchase Bitcoin above 88 and Strategy company bets and bought Bitcoin for 47 billion dollars

Current price is 88630 dollars and recent movements are on the rise, but this rise is not backed by strong liquidity… rather it’s speculation and liquidity fleeing from the losing US stock market, along with some psychological pumping. There are indications that liquidity withdrawal is coming due to the trading volume, meaning the market is indeed rising but not with a large number of participants. This makes any negative news capable of shaking the market literally in seconds. Additionally, there is fierce resistance around 98–91 thousand and this area is full of sell orders. If the price cannot close above it with direct confirmation, this rise could turn into a trap.

Heavy economic data coming

On April 25, we have US inflation data (PCE). If it comes out higher than expected, the Fed may return to its hawkish stance, and at that time, there will be a broad sell-off in all high-risk assets, including crypto.

Bull Trap

The market may reach 89 or 90 thousand, causing people to start buying, and suddenly a large dump occurs, dropping the price to 84 and then to 80 thousand.

Strategy company's actions stir debate

Amid all this, Strategy company dropped a "surprise card" by buying 6,500 Bitcoin last week in just 5 days, raising their total holdings to more than 47 billion dollars in Bitcoin. This means they see Bitcoin as a strategic long-term asset.