According to Shenzhen TechFlow, MicroStrategy (MSTR) call option sentiment has cooled significantly. The data showed that MSTR's 250-day bearish-bullish skew returned to zero from -20% three weeks ago, with market sentiment turning neutral.
MSTR's stock price has fallen 44% to $289 from its all-time high of $589 on November 21, and its market value has evaporated by 34% in the past two weeks.
Markus Thielen, founder of 10x Research, pointed out that although MicroStrategy holds 446,400 bitcoins, its appeal as a leveraged investment tool for bitcoin has weakened. Investors are more inclined to buy bitcoin directly rather than pay a higher implied price through MSTR.
