Around 58k was the bottom of this cycle. At the time, there was a signal that most people overlooked—coming from the Strategy. Stepping out of the perspective of crypto traders and understanding it from the standpoint of a business operator, the logic becomes very clear. In the later stage of a bear market, Strategy doesn’t just need to think about whether the market will rise ($BTC ) . It needs to consider where the market bottom really is, where the company’s risk-and-survival line lies, and whether its own capital structure can withstand the shock if the行情 continues to plunge.
Since there is still buffer space before the liquidation trigger line, proactively releasing risk is far better than later being forced into a dead end passively by market moves. So when I saw the Strategy break the fixed impression that it “only buys and never sells,” and adjust its Bitcoin holdings and cash reserves, optimizing its capital structure, I treated this behavior as an important reference signal.
This is not me claiming that Saylor publicly said he wanted to test the market bottom. This is an inference I made from the perspective of a decision-maker. But subsequent market movement validated this logic. The “buy only, never sell” belief was broken: BTC dropped to 58,000, and then faced additional bearish pressure from developments regarding hardware wallet security. The 60,000 level was ultimately defended. This is a real, hands-on market stress test.
Now I’m focusing on another key point: once Strategy resumes and continues buying, it’s very likely an important bullish offensive signal. It’s not a direct order to open a position, but it’s a market signal with extremely high weight. An institution that has completed stress tests, clearly understands its own funding limits, and is still willing to add to positions with a huge amount of cash—their actions are far more reference-worthy than the many online viewpoints that are merely spoken.
You may not agree with Saylor’s actions. But don’t blindly assume you’re wiser than these institutional decision-makers who hold tens of billions in positions and handle financing and capital markets every day. The market won’t pay for stubborn talk—ultimately, only actions backed by cash and numbers matter.
If you want to keep tracking institutional moves like Strategy, and catch key turning-point signals, join the chat room to get real-time judgment of the order book.