BTC has gone completely crazy, or rather, institutions are now showing a retaliatory output. In recent months, BTC has risen over 40%, and everyone is pouring money into BTC. Old Li just checked the data, and Tether issued another 1 billion USDT on the Ethereum chain yesterday, indicating that more significant funds are entering the crypto space. This morning, Bitcoin stood out alone, and the influx of altcoin funds has also acted as a booster, pushing BTC to refresh its historical record, with a new high around 97,800. Old Li has also summarized some reasons for the recent surge: 🚀 MicroStrategy's investment in BTC over the last week has far exceeded that of the tech giants, with trading volumes crushing Apple, Amazon, and Meta.
Once a business intelligence company, MicroStrategy has now transformed into a major Bitcoin player. On November 19, MicroStrategy's trading volume reached an astonishing $21.8 billion, and its market value has soared by 237% since August, far exceeding BTC's 61% increase during the same period. According to data from HODL15Capita's X post, as of yesterday, MicroStrategy's 24-hour trading volume ranks third, following Nvidia and Tesla, nearly three times that of Apple! Some analysts attribute this to the 2x leveraged MicroStrategy ETF launched in early August, which manages about $3.8 billion in assets and has brought over $7.7 billion in leverage effects to MSTR stock.
Looking back at history, MicroStrategy has turned its attention to BTC since 2020, using it as a hedge against macroeconomic instability. From this perspective, combined with the recent escalation of the Russia-Ukraine war, the short-term rise of BTC indicates that Bitcoin has officially become a safe-haven asset. They not only buy for themselves but also incentivize other companies, like Japan's Metaplanet, to follow suit. Recently, they purchased 51,780 BTC for $4.6 billion, and now MicroStrategy holds over 331,200 BTC!
At this point, I wonder if everyone has noticed that whenever MicroStrategy buys BTC, its price volatility intensifies. Additionally, MicroStrategy's Executive Chairman Michael Saylor revealed in a recent X livestream that he has been invited to give a brief report to the Microsoft board regarding investing in BTC. Friends who have seen Old Li's post yesterday know that Microsoft will review the investment proposal for BTC on December 10th.
The signals being released by the market are already abundant. Old Li has repeatedly emphasized that institutions and funds will increasingly favor BTC. There are two months left until Trump takes office on January 20, and under his policy stance towards BTC, the smart money from the giants is laying out its strategy in advance. Objectively analyzing, everyone might want to calm down and think carefully about what kind of prospects are driving these global giants to intensify their investment in BTC; I believe your answers will be in agreement. On another military front, the Ukrainian army has once again launched British-made Storm Shadow missiles at Russia, and the ongoing escalation of the Russia-Ukraine situation is also a potential boon for BTC (this was mentioned in yesterday's post, and users who are unclear can check it out themselves). There have been too many recent positives, and Old Li doesn't want to elaborate further; interested parties can check out Old Li's previous posts. Users holding spot positions should not be blinded by immediate profits; it is essential to hold long-term. Once you exit the market, you won't get another chance to re-enter. Old Li will continue to walk with you; as long as you can hold on, your assets will surely double in the next six months! Users who have not entered the market yet can talk to Old Li.
Returning to short-term analysis, BTC is currently priced at 97,456. It has had four consecutive daily gains, and from a technical perspective, the daily RSI and KDJ indicators are at high levels, indicating a risk of correction. The first support level is at 94,000, with the second support level near 92,000. The current strategy remains unchanged, looking to buy on dips. Focus on the effectiveness of the 94,000 support; if stabilized, consider buying at 94,300-94,600, with a take profit of around 1,200-1,600 points. If 94,000 breaks, buy at 93,200-93,600, with a take profit of 1,800-2,200 points.