We start a new quarter with news that Michael Saylor’s (Micro)Strategy is back in the order books.
He announced a $1.92 billion dollar purchase which given the price must have executed last week.
After a period of relative quiet from the goliath Bitcoin whale, there were clues he was going to turn on the TWAP bot.
There is potential for a trading strategy to go max long every time Saylor says “Needs more Orange” like he did on March 23rd, something we’ve seen before when he ramps up accumulation.
Tether also announced they’ve been buying Bitcoin in Q1 using revenue from their custodial stablecoin model.
The markets have cooled down so far this year and any positive news is welcome at this juncture.
Politics in the US and further tariff announcements expected tomorrow could provide a headwind for risk assets. The tariff showdown has created market uncertainty, despite digital assets being largely unaffected directly by tariffs.
There’s still a strong correlation between Bitcoin, altcoins and US stocks. If the markets react bearishly to Trump drama now and in the future, it will affect crypto markets.
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