Bitwise said STRC's volatility reflects a late-cycle leverage unwind, with institutions poised to replace Strategy as bitcoin's biggest buyer.
The bank said Strategy's bitcoin sales policy adds avoidable market uncertainty and should be replaced with equity issuance to build cash reserves.
The Japanese firm, now the world's third largest publicly traded bitcoin holder, reported stronger Bitcoin Income Generation revenue.
Long-term holding wallets have shifted to net accumulation from net distribution, according to Glassnode.
The bank said in a note bitcoin's cycle points to a market bottom in the coming months, urging investors to focus on networks with durable value accrual.
The Fed chair reiterated the central bank's commitment to its 2% inflation target while signaling artificial intelligence could reshape the economy and monetary policy.
The bank cut its 12-month bitcoin and ether price targets after scrapping its ETF inflow forecasts, citing stalled U.S. crypto legislation and weak investor demand.
After AI drove equities higher while bitcoin lagged, market watchers expect macro policy and market structure to take center stage.
Bitcoin fell in both the first and second quarters of 2026, only the third time it has opened a year that way. In the two earlier instances, 2018 and 2022, the second half brought no rescue.
Bitcoin dropped by 20% in June, but the monthly chart reveals something far more concerning.
Strategy (MSTR) shares have lost around 41% of their value in June.
Bitcoin’s price has shown an unusually strong negative 52-week correlation with the dollar-yen exchange rate.
BTC fell in Asia as the Japanese yen tanked to four-decade lows, lifting the dollar higher across the board.
The bank said bitcoin lending has emerged from the 2022 crypto credit collapse with stronger risk controls, growing institutional participation and a path toward lower borrowing costs.
The company can now sell bitcoin to fund the USD reserve, support preferred dividends, and finance up to $2 billion in stock buybacks.
Strategy adopted a new capital management framework, authorizing up to $2 billion in buybacks while creating a program that allows future bitcoin sales to support liquidity.
Bitcoin is trading below key technical and onchain valuation levels, with historical bear market patterns suggesting a potential bottom closer to $45,000.
Investors have pulled out $4 billion from the U.S.-listed spot bitcoin ETFs in June, the highest outflow on record.
The bitcoin advocate said his crypto bottom claim is based on the fact that the traditional four-year halving cycle has changed, although several analysts continue to expect further downside.
The crypto bull shrugged off market skepticism by sharing a chart of the company's $50 billion stash and teasing that they are going to need more data points.
Bitcoin has long been lumped in with precious metals as a hedge against a weakening dollar. That trade is unwinding on a hawkish Fed, and bitcoin is falling alongside the metals it was supposed to rival.
For years, investors had valued the firm well above its bitcoin holdings, giving Strategy massive flexibility to raise capital as needed — a situation Michael Saylor and team took full advantage of.
Investors are watching the preferred stock's ex-dividend date and monthly dividend rate reset closely.
The real estate investor pitched his model as a treasury company backed by cash-flowing property rather than stock sales, framing the slide in bitcoin as a chance to accumulate.
Strategy’s paper loss exceeds the market caps of hundreds of tokens, highlighting the extreme concentration of risk in the crypto market right now.
BTC sees a relief bounce as Asian stocks wilt following sharp losses on Wall Street.
STRC was marketed as a low volatility income product designed to trade near $100, and its sharp decline has undermined investor trust.
Hyperion Decimus' Chris Sullivan said four historically reliable indicators have aligned, leaving bitcoin one move away from confirming a major turning point.
Derivatives markets signal that betting on further slide in prices is getting overcrowded, setting up for a potential snapback.