Key Takeaways

BTC bull run hangs in the balance as $100K support acts as a key pivot amid whale profit-taking and macro headwinds.

“Bitcoin is still on sale,” says Michael Saylor. 

After Bitcoin [BTC] closed August down 6.5% from its $115,778 open, the claim carries weight. Meanwhile, MSTR scaled into BTC across three buys during the month, averaging $116,168 per coin.

However, those positions now sit on a 7.3% unrealized loss. Does this make MSTR’s call a risk-off play, potentially sidelining traders, and reinforcing the idea that BTC bull run hasn’t fully bottomed yet?

Macro volatility tests MSTR’s Bitcoin bet

September kicks off with a packed economic calendar set to move markets.

We’ve got ISM manufacturing PMI and employment, initial jobless claims, trade balance, nonfarm payrolls, and the unemployment rate, all set to be released in the first week of BTC’s historically bearish month.

All eyes, however, are on the 17th of September FOMC, where markets are largely pricing in easing. 86.4% chance of a rate cut, 13.6% no change, and 0% hike, making this week’s releases key for BTC bull run.

Simply put, the U.S. macro backdrop is key to backing MSTR’s BTC bet.

The logic is simple: July’s headline CPI held at 2.7%, just under the 2.8% forecast, while core CPI ticked up 0.3% as “expected”, its sharpest monthly gain in six months, keeping inflation dynamics in check.

The result? The FOMC held rates unchanged. Bitcoin bottomed, sparking a $124k ATH in the prior BTC bull run. Now the quest

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Author: Ritika Gupta