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Olivia Rose
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Strategy is repairing its preferreds, not stacking BTC — $208.2M vs $65.5M tells the story. $BTC has already run past $78,000 to $80,400+, so watch whether the rally holds above $80,500 or fades back to $76,463.
查理-Charlie
Strategy delivered a conflicted treasury report last week
From October 26 to November 1, the company used proceeds from common stock financing to buy 811 $BTC, about $65.5 million, at an average price of about 80,846, bringing total holdings to 849,327 coins
However, in the same week, it spent about $208.2 million in cash to repurchase STRC preferred shares, more than three times the amount spent on buying coins, with cash dropping from about $242.4 million to about $132.7 million
Institutions haven't been supportive either
The US spot BTC ETF saw a net outflow of about $27.4 million on November 3, marking three consecutive days of withdrawals, though this outflow is much smaller than the roughly $398.6 million on November 2, indicating a slowing outflow pace
My view is that Strategy is more focused on restructuring preferred stock liabilities this week rather than aggressively increasing positions
In the short term, don't treat this as a bullish trend signal
On the market, $BTC in the Asian morning session fell from around 78,000 to about 77,000, with a 24-hour high/low of approximately 78,049/76,360, and a funding rate of about 0.01%
Short term support is first seen at 76,800, with several probes near this level this morning; breaking it means reducing positions
Resistance above is at 77,500; holding above this level targets 78,000
Stop loss is set below 76,500, with the initial target at 78,000, maintaining a small position as usual #Strategy repurchase scale is more than three times coin purchases, treasury strategy shift?
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