[STRC Financing Scale Expansion Boosts Potential Bitcoin Purchasing Power, but Crypto Market Structure Has Yet to Fully Shift to Bull Market] Crypto analyst Ragnar posted on the X platform, stating that Strategy perpetual preferred stock STRC recorded a single-day trading volume of $745 million this week. Based on an estimated cash realization rate of approximately 48% (including off-market trading hours), the potential purchasing scale corresponding to STRC alone on that day could equate to approximately 5,000 Bitcoins. Further calculations indicate that the funds related to STRC this week may correspond to approximately 13,000 Bitcoins. If we also factor in the financing ratio of about 1:2 between STRC and Strategy common stock, the potential Bitcoin purchasing scale this week could reach approximately 39,000 Bitcoins. This scale is equivalent to the level of a large Bitcoin-holding company being added in one go. However, analysts caution that the above data is based on market estimates, and the actual purchase scale still depends on company disclosures. Additionally, other analyses point out that the current crypto market structure has yet to fully shift to a bull market. The 50-day correlation between Bitcoin and the Nasdaq 100 Index remains as high as 84%, indicating that if the stock market experiences a pullback, Bitcoin may face simultaneous pressure.