Bitcoin went up after last week and broke Strategy's average buy-in cost. According to Bitfinex, it is not the single price fluctuations that are next to be seen, but rather whether the listed company will re-enter the market and continue to sell at a higher level.

Strategy hasn't recovered the purchase.

Strategy is still the most publicly disclosed listed company with the most bitcoin, the most recent being 840,447 BTCs, at a total cost of approximately $633.6 billion, with an average holding cost of $75,385 per unit.

However, the company did not buy or sell bitcoin during the week ending 16 August, although it financed approximately $2 billion during the same period through the sale of MSTR shares. According to Bitfinex, this meant that the company had not provided a new spot purchase signal for the time being, but had not continued to increase the pressure during the increase.

  • $300 million transferred to the original dollar reserve
  • $15.9 billion deposited in new cash accounts
  • $136.4 million for repurchase of STRC priority shares

Following these operations, Strategy ' s United States dollar reserves increased to $5.1 billion and its combined cash position reached $6.69 billion. As a result, the market became concerned that this portion of the cash would eventually flow to Bitcoin.

Recently, the money sold has suppressed the above space.

Prior to the current breakout, Strategy had sold bitcoin for several consecutive weeks to meet the financial arrangements related to priority securities. From 3 to 9 August, the company sold 1,690 BTCs, cashing $108.6 million at an average selling price of $64,262.

In the previous week, the company had also sold 1,638 BTCs with a cash of approximately $104.7 million to cover STRC dividends and priority stock buy-backs. According to Bitfinex, the suspension of currency sales in the last week reduced part of the market supply, a change that coincided with the break of Bitcoin over the summer shock zone.

$73,500 for short-line confirmation.

Bitfinex regards US$ 73,500 as a short-term critical position, which is considered to be the approximate average cost of buyers over the last three to six months. If this level is stabilized over the TTco weekly line and held back on foot, the rebound will be more clearly confirmed.

  • 86,500 dollars near the next cost-pressure area.
  • $64,500 in proximity to the average cost of the newest buyer.
  • Fall back, 64,500 below will weaken the breach.

It also noted that there may be more pressure to sell around $86,500, as the area is close to the average return price of buyers between 18 months and 2 years ago. If the price falls again by $64,500, the market may return to the previous zone.

The ETF funds flow still needs to continue.

According to Bitfinex, United States spot bitcoin ETF and currency-held companies are the two most important sources of ongoing spot demand. As of the week of 21 August, United States spot bitcoin ETF net inflows were about $1.9 billion, with five consecutive trading days recording net inflows.

However, a significant part of the recent increase still comes from empty silos. Market analysts quoted CoinGlass as saying that when Bitcoin broke by $70,000, the bulk of the encrypted market was close to $2.7 billion within 24 hours. Bitfinex cautions that new off-the-shelf funding will be required to continue after such passive purchase.

Data on the chain indicate that the confirmation signal is still inadequate. Bitfinex states that the movement on the Bitcoin chain is still near eight years low, indicating that the overall participation of currency holders remains limited after the price rebound.