Historically, the company has demonstrated a similar approach. In December 2022, Strategy sold 704 BTC to realize a tax loss, only to repurchase 810 BTC just two days later.
In the current environment, the market still appears increasingly dependent on perpetual while spot demand remains absent. As long as the setup continues reliance on leveraged long exposure, a stronger recovery case will likely require a return of consistent spot demand.
Market Structure Weakens As Bitcoin Loses A Major Support ZoneRekt Capital argues that unless BTC reclaims the 2024 all-time high, the sequence of technical events will increase the chance of BTC revisiting the 2021 all-time highs for a retest.
