$STX is getting interesting after the launch of self-custodial Bitcoin Staking, giving BTC holders a way to earn yield while keeping their BTC on L1. It’s still early and the numbers are small, but the catalyst is definitely worth watching.
Fundamentally, there are still some concerns like 7 - 8% yearly inflation, around 85M TVL, 208M sBTC, and relatively low activity. The big question is whether Bitcoin Staking can grow enough to create real demand for
#STX From the chart side, I like the weekly structure here. After the huge drawdown from the 2024 ATH, STX is starting to reclaim the old S/R flip zone and momentum is turning bullish again. If this weekly reclaim holds, I’d be watching 1.70 first, followed by the 2.80 - 3.00 area
So for me, the bullish thesis is simple:
$BTC Staking adoption + improving weekly structure + growing STX demand
I’ll be watching bonded BTC, sBTC supply, TVL and how price reacts around the major HTF levels