According to external sources, Bitcoin had not recovered critical prices in the recent past, and Michael Saylor attributed it to a short-term shift in funding to AI and new stock dealings, rather than to a long-term change in bitcoin logic. The article also refers to chain data, stating that, in the price-fall phase, the trading activities of large holders have increased.

Wall Street money turned to AI and new shares.

Saylor states that Wall Street is now more interested in AI-related investment and growth technology companies, and that some of the funds are being sucked away by hot trades such as SpaceX, Anthropic, Nvidia and Google, and are going to the new IPO round. According to him, the investor would switch between different assets, depending on the current relative return.

In his view, such rotation suppressed the short-term performance of Bitcoin. After the cooling of the "AI heat" and IPO transactions, some of the money could be returned to the Bitcoin market.

Saylor says current prices are more attractive.

Saylor argued that bitcoin usually carries a higher premium at the cattle market stage, and when leveraged funds exit, prices become more attractive. On that basis, he concluded that the current turnback was more a re-pricing after the withdrawal of funds than a reversal of the trend.

According to the article, Saylor anticipated a possible return of some of the funds in the third quarter and a four-quarter market environment or further improvement. This judgement stems from his observation of the financial wheeling rhythm, not from new corporate disclosures.

The chain's going up.

Data from the chain analysis platform, Santiago, show that after a short fall of $60,000 in bitcoin, the network peaked at its second largest whale trade in almost two months, indicating that large amounts of money remained active during the volatility phase.

  • 6,920 transactions in excess of $100,000
  • More than $1 million in 1,438 transactions

According to the article, similar high-value trading activity has in the past tended to occur at a timid stage of the market, during which some institutions or large households have increased. Saylor also mentioned that since Strategy began buying bitcoin in August 2020, the company had experienced many major retreats, and he considered the current decline to be a common swing in the cycle.