- Bitcoin traded near $77,500 after briefly crossing $79,000 earlier in the week, its highest level since February.
- Shares of Strategy (MSTR) rose over 1.3% in pre-market trade, though its weekly gain of roughly 5% trailed Bitcoin’s 7% rally.
- Retail sentiment on Stocktwits for both Bitcoin and MSTR remained ‘bullish’ over the past week, although chatter volume declined significantly.
- Market attention turned to how Strategy might fund future Bitcoin purchases, with users speculating about the use of STRC preferred shares or equity offerings.
Bitcoin hovered near $77,500 on Friday morning after a volatile week where it briefly surged past $79,000, according to market data. This peak marked the apex cryptocurrency’s highest trading level since last February, signaling a renewed bullish momentum.
Consequently, cryptocurrency-linked equities like Strategy (MSTR) also saw positive movement, with its stock gaining over 1.3% in pre-market trade. For the week, however, MSTR’s roughly 5% advance was outpaced by Bitcoin’s 7% gain.
Meanwhile, retail trader sentiment on the Stocktwits platform stayed in the ‘bullish’ territory for both assets. Chatter levels, however, tumbled from ‘extremely high’ to merely ‘high’ for MSTR and fell to ‘normal’ for Bitcoin, as sentiment and message volume charts illustrate.
Market participants pointed to geopolitical uncertainty as a primary reason for price fluctuations. Many users also wondered if Strategy executive chairman Michael Saylor would use its STRC preferred shares or at-the-market equity offerings for future Bitcoin purchases.
The rally was partly fueled by Strategy disclosing one of its largest Bitcoin purchases to date this week, acquiring 34,164 BTC for around $2.5 billion. Consequently, other crypto-linked stocks advanced, including ASST, which gained over 3% for the week.
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