MicroStrategy selling BTC is a short-term bearish signal and a catalyst in the downtrend, but in my opinion, it’s actually a positive for MicroStrategy as a company. At this point, any positive news from MicroStrategy would be interpreted the same way, because the drop isn’t caused by someone hyping it up, a specific piece of news, or even today’s SPX plunge—it’s simply because we’re in a downtrend. For me, I need to buy into trends and consider the risk-reward ratio. From the current price breaking below 60k, it might actually be a decent level to set a stop-loss. But for long-term bottom-fishing, the key question is whether “BTC has returned to an uptrend” or if it’s already so undervalued that no one cares anymore. Clearly, this month, aside from SPX, we’ve also seen capital outflows due to World Cup betting. On top of that, with SPX pulling back, tech stocks might present some tempting golden opportunities again. In that case, bottom-fishing BTC is undoubtedly a pretty unappealing option. Lastly, STRC isn’t worth bottom-fishing right now either. Will it return to its anchor price? I think there’s a high probability it’ll go back to 100. If MSTR is selling BTC and still has to pay interest, how could STRC remain stable? Even in a liquidation scenario, you’d probably still get BTC. But with only about 10% upside, and tech stocks potentially pulling back 10%, it doesn’t seem all that attractive anymore.