Dear Readers,

Until last week there were wide range of happiness in the crypto markets.

While leading BTC with the price in the rally, there were all the cryptos were followed. 

BTC touched the all time high price of $ 73750 range on March 14, 2024.

But in the last 7 days from 11 March 2024, it shed nearly 4%. 

Where there were many reasons, the noted analyst Fred Krueger took his twitter by today and has announced a reason out of his own analysis. 

But this was made many debates among the crypto community.

But it seems quite interesting though.

Let's see his analysis. 

With his analysis, he expressed that a large fund was engaged itself in a trading strategy.

This involves the shorting  MicroStrategy (MSTR) stock and buying Bitcoin.

They allotted $1 billion on these trade strategies.

If we see the share price of MicroStrategy (MSTR) on Nastaq last week, it witnessed a massive 232.34 USD (Over 14.99%) upside in its price. 

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But, this strategy had to end on last Friday which led the sale of $ 1 billion worth BTC.  

This massive sell off contributed the massive liquidations in the crypto market wide over- which he termed as shrimp, crabs and fish selling. 

His strategy backfired last Friday when the fund was forced to stop out, leading to the sale of $1 billion worth of Bitcoin.

It was seen that MicroStrategy(MSTR) has beaten the trading volume over Amazon. It is also reported that MSTR has high number of BTC holdings. 

In the recent report also MicroStrategy expands BTC holdings with upsized 525 million offering. See the expanded coverage on this here. 

It is to be noted that in the private wallets, the no of holding more than 1000 BTC are at increasing. It means the whales are hodling the BTC.    The strong support for BTC is at US$ 65849. If it breaks this level, then the next support would around US$ 55000.   As the Bitcoin halving is said to be hardly a month ago, this small correction, though not considered so seriously among the majority of the crypto community and expects BTC would move ahead in the future.    As the ETFs play a major role in the pumping of the BTC prices so far. As we are quite new to the injections of buying in BTC by ETFs, we need to watch so carefully.    Let's hope positive on this!   --   Please do consider to monetize your contents and earn in the fastest growing - Web3 Social Platform with my referral link: https://hiraj.tangled.com/join