The new strategy is now to buy $BTC (by selling $MSTR) as long as mNAV is above 1x

=> It creates room for more pref issuance (ie Strategy can issue more credit products while keeping the leverage stable)

=> It reduces the share of convertible bonds vs preferred shares in the leverage mix. It overall reduces the weight of convertible bonds in the whole structure, which is what Saylor wants (final state will be 0% CB and 100% prefs)

Another thing that people still don't get is that, since Saylor is buying $BTC immediately after selling $MSTR, his BTC average purchase price in USD is quite irrelevant

You're just seeing one leg of a pair trade and commenting on how he's 'top blasting' without realizing it also means he just sold MSTR at a good price to buy BTC.
He's looking at the BTC/MSTR chart while people are analyzing his actions on the BTCUSD chart...

This kind of dead cat bounce is an important pattern to be aware of when you are fading altcoin pumps, because it can cut into your profitability a lot.

Here $DUSK was down -55% from its top, and had been bleeding down for 3 days without a bounce

Knowing that the initial pump was very concentrated in energy (almost 5x in 3 days), you have to expect it to bounce somewhere during the downtrend. So you can't add on bearish momentum too late, or you're at risk of being oversized when the dead cat bounce happens.

What you'd rather want to do is take some profit progressively on the short as price goes down, and have sell orders higher to be able to double down on the short on the DCB.
Because your risk is very defined on a lower high, and it's usually a trade that works well (Obviously there are exceptions, and defining where the DCB tops isn't exactly easy)

One tip I find useful for the perma-bulls (ie most crypto-natives, let's be honest...) is to always make sure that you don't have a long position open on at least one of the three majors (BTC/ETH/SOL), so that you can use it as a hedge short when the market feels fishy

If you're overall net long but kinda feeling that the market might rug, and you don't want to close your positions at loss because of loss aversion bias... then you can just add size on an ETH short (for example) to hedge your account

Use a tight SL and it will work pretty well.
How many times did you look at the ETH chart after a dump and think 'wow that was actually so easy for bears, they never even had to sweat'? The reason you were on the wrong side is mostly that you were already in long positions and unable to close (and reverse)... one sized up short on a major can dramatically improve the end result for you in this situation.

$RIVER joins the top 5 of highest FDV scam coins ever, with a current valuation of $8.5bn.

The ceiling so far has been $20bn, repeatedly.

I'm betting on this being a dead cat bounce too on $AXS

Funding is painful though

Failed trade on a strict basis, overall I still think it’s a short but the funding makes it less attractive

Majors are so incredibly choppy, momentum traders nightmare

"It's essentially $XPL but it goes up"

$STABLE

Recap of the past 2 weeks in the crypto markets

https://cryptonarratives.substack.com/p/narratives-of-the-week-january-27-5a5

"$XPL but its goes up"

(thanks to crime)

$STABLE

XPL = organic, high mindshare = supply is in the hands of real people = there are a TON of potential sellers = bearish

STABLE = no mindshare, crime coin = all the supply is in the hands of insiders = no sell pressure until they decide it = bullish

Very simplified framework, but it kind of works

5th support tap on SUIBTC chart

Buying gold dips has been so free up until now… for how long will that remain true?

$ROSE: one of the few coins that looks like it wants to break out

(despite being part of the exhausted privacy meta...)

$STRC only dumping 2% from par (so far) while $BTC is down 15%+ from its 2026 highs

Daily trading volume standing above $100M too. Good to see

MSTR mNAV is basically 1x now though, let's check if it's going to dip below it

Come on BTC, you can't do that to us

Man the f*** up

Lucky is among the few people that are very much worth following in the sea of Twitter/CT slop

He's just regularly sharing useful fundamental analysis on crypto for free, it's great to still have some of these people on CT

https://x.com/LuckyXBT__/status/2017316776636219450

NGL I wasn't expecting such a strong $ZEC dead cat bounce in December, but it seems to have printed a lower high, and this chart is looking like it still needs to digest a 20x pump (by bleeding down)

Being concerned about Microstrategy involvement in BTC makes sense, I would prefer if they had smaller scale too

But if you're genuinely wanting to get rid of Saylor before bottoming... boy, we're in for a long ride

MSTR is a cockroach, they are not going away anytime soon

$ZK is trading at $0.16 on Upbit and at $0.034 on Binance

lmao