Strategy's Bitcoin Pivot Gives Investors a New Reason to Watch Preferred Shares

Bitcoin briefly broke below the $60,000 support level last week, sparking retail panic, but Strategy Inc. (MSTR) rose more than 12.6% intraday. The move came on heavy volume of over 44.93M shares, suggesting strong positioning/rotation into MSTR despite weakness in BTC.

Analysis

Bitcoin briefly broke below the $60,000 support level last week, sparking retail panic, but Strategy Inc. (MSTR) rose more than 12.6% intraday. The move came on heavy volume of over 44.93M shares, suggesting strong positioning/rotation into MSTR despite weakness in BTC.