Key Takeaways
BTC bull run hangs within the steadiness as $100K help acts as a key pivot amid whale profit-taking and macro headwinds.
“Bitcoin continues to be on sale,” says Michael Saylor.
After Bitcoin [BTC] closed August down 6.5% from its $115,778 open, the declare carries weight. In the meantime, MSTR scaled into BTC throughout three buys through the month, averaging $116,168 per coin.
Nonetheless, these positions now sit on a 7.3% unrealized loss. Does this make MSTR’s name a risk-off play, doubtlessly sidelining merchants, and reinforcing the concept BTC bull run hasn’t absolutely bottomed but?
Macro volatility assessments MSTR’s Bitcoin wager
September kicks off with a packed economic calendar set to maneuver markets.
We’ve received ISM manufacturing PMI and employment, preliminary jobless claims, commerce steadiness, nonfarm payrolls, and the unemployment price, all set to be launched within the first week of BTC’s traditionally bearish month.
All eyes, nevertheless, are on the seventeenth of September FOMC, the place markets are largely pricing in easing. 86.4% likelihood of a price reduce, 13.6% no change, and 0% hike, making this week’s releases key for BTC bull run.
Supply: CME Group
Merely put, the U.S. macro backdrop is essential to backing MSTR’s BTC bet.
The logic is straightforward: July’s headline CPI held at 2.7%, slightly below the two.8% forecast, whereas core CPI ticked up 0.3% as “anticipated”, its sharpest month-to-month achieve in six months, retaining inflation dynamics in examine.
The end result? The FOMC held charges unchanged. Bitcoin bottomed, sparking a $124k ATH within the prior BTC bull run. Now the query is whether or not present macro circumstances can set off an identical BTC rally, backing MSTR’s stance.
$100k help now the pivot level for BTC bull run
September has historically been BTC’s tough patch.
On common, it posts -3.5% MoM ROI, the one month the place losses constantly dominate, following June’s delicate -0.14% month-to-month return. This seasonal weak spot is one thing merchants preserve front-of-mind for flows.
On high of that, on-chain information reveals a giant spike in realized income from new BTC whales, marking the biggest in over a month.
Notably, the primary notable spike was again in mid-July, proper when the BTC bull run topped at $123k.
Supply: CryptoQuant
Merely put, BTC good cash is constant to tactically reposition.
In reality, the absence of “purchase the worry” exercise from whales runs counter to MSTR’s aggressive Bitcoin wager. Merchants appear positioned for a repeat of September’s typical flush, regardless of the market pricing in a price reduce.
In actuality, the Fed has little incentive to chop amid post-tariff financial dangers, making a price reduce unlikely.
Thus, all indicators level bearish, with $100k now trying like a key help and potential pivot zone for BTC bull run.
