Daily Market
Strategy: Trim BTC to replenish cash reserves; the crypto market pulls back before CPI is released
In the short term, crypto liquidity has tightened as macro inflation data is about to be released. Liquidations driven by leverage unwind and risk-averse sentiment have taken the lead.
Strategy (MSTR)’s latest 8-K filing shows that the company sold 1,690 BTC last week to repurchase preferred shares, and raised its cash reserves to a record $4.65 billion by issuing additional stock. The continued selling indicates that its strategy is shifting from simply accumulating BTC to prioritizing liquidity security for debt obligations and dividend payments.
Spurred by a Coldcard hardware wallet vulnerability, demand for custody security pushed U.S. spot BTC ETFs to attract $853 million last week. However, ahead of the Aug 12 U.S. CPI release, deleveraging in the market led to a short-term pullback in BTC and ETH.
Next, the focus will be on: the U.S. July CPI performance to be released on Aug 12, and whether spot ETF inflows can stay strong amid macro volatility. Do you think BTC can hold above $63,000 after this CPI data is released?
Strategy: Trim BTC to replenish cash reserves; the crypto market pulls back before CPI is released
In the short term, crypto liquidity has tightened as macro inflation data is about to be released. Liquidations driven by leverage unwind and risk-averse sentiment have taken the lead.
Strategy (MSTR)’s latest 8-K filing shows that the company sold 1,690 BTC last week to repurchase preferred shares, and raised its cash reserves to a record $4.65 billion by issuing additional stock. The continued selling indicates that its strategy is shifting from simply accumulating BTC to prioritizing liquidity security for debt obligations and dividend payments.
Spurred by a Coldcard hardware wallet vulnerability, demand for custody security pushed U.S. spot BTC ETFs to attract $853 million last week. However, ahead of the Aug 12 U.S. CPI release, deleveraging in the market led to a short-term pullback in BTC and ETH.
Next, the focus will be on: the U.S. July CPI performance to be released on Aug 12, and whether spot ETF inflows can stay strong amid macro volatility. Do you think BTC can hold above $63,000 after this CPI data is released?