Hedge Funds Dey Target Strategy $360 Bitcoin Treasury Support
10x Research dey warn say Strategy key $360 support level dey under threat as hedge funds dey take over trading and big shareholder Vanguard don reduce im stake by 10%. Bitcoin treasury stocks no too dey attractive again as volatility sharply drop. Strategy shares don drop 13% since mid-July, while Tokyo-listed Metaplanet don fall 37% for same time. The reduced market convexity don weak the power of Bitcoin treasury stocks to amplify BTC price changes, e dey limit their ability to raise capital. Investors dey shift to Ethereum treasuries and crypto IPOs to find new opportunities. The report dey question whether make re-entry depend on $360 price level or the wider market conditions wey fit bring back demand for Bitcoin treasury stocks.
Bearish
Di report dey shine light say hedge funds don beta dominate di trading of Bitcoin treasury stocks, because volatility don reduce and di long-only investors belief don dey low. Vanguard cut im stake mean institutional investors dey pull back. For past times wey volatility low, MicroStrategy and others no perform well pass BTC, e make their share prices drop. Short term, dis kain tori dey put bearish pressure for Strategy and other treasury stocks. For long term, unless volatility or macro catalysts show face again, investor interest for high-beta BTC proxies fit dey low, wey go limit wetin fit bring comeback.