Bitcoin (BTC) rose about 2.66% to roughly $75,800 after Strategy disclosed a $2.54 billion purchase of 34,164 BTC — the company’s third-largest buy and roughly equal to 2.5 months of new Bitcoin supply. Despite the headline purchase, several indicators suggest the rally could fade.
Strategy funded roughly 86% of the purchase via its Stretch (STRC) preferred stock, which generated about $2.17 billion from at-the-market share sales between April 13 and April 19; sales of Class A common stock (MSTR) added about $366 million. STRC lets Strategy raise cash for Bitcoin when it trades at or above $100. In 2026, STRC enabled about 77,000 BTC of purchases, roughly ten times more than all ETFs combined, according to market data.
Since April 15, STRC has traded below its $100 par value, which may constrain Strategy’s ability to keep raising funds and buying BTC this week. Historically, pauses in Strategy’s purchases have coincided with BTC price slumps: on average, BTC has fallen roughly 30% when STRC trades below $100 — a drop from current levels that would take BTC toward about $53,000.
The potential halt in buying comes amid weakening risk sentiment: U.S. stock indexes have fallen amid doubts over a U.S.–Iran truce extension, and political comments suggesting the truce may not be extended raise the prospect of renewed Middle East conflict, which could weigh on Bitcoin.
Technically, Bitcoin’s chart shows a classic flag consolidation, with price drifting toward the pattern’s lower boundary. That structure raises the risk of a pullback to the $67,000–$69,000 area in April if support gives way. Downside, however, may be limited while the 20-day and 50-day EMAs act as dynamic support; holding above those averages would indicate underlying demand and increase the chance of a rebound.
If demand holds and BTC breaks above the flag’s upper trend line, the bearish setup would be invalidated and could open a path back toward the 200-day EMA, near $82,750. Breaking resistance around $78,000 remains the bulls’ near-term priority.
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