Sentiment Rebound
Intermediate
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Signs of midweek fatigue in the broader crypto market as FOMO sentiment catches on. After breaking above the $50k level, the price of BTC briefly dipped below $48k. Once again, MicroStrategy added fuel to the flaming bullish sentiment. The Nasdaq-listed software company purchased an additional 3,907 bitcoins for $177 million in cash, tipping its total Bitcoin acquisition over 100k; each bitcoin priced at an average of $26,769. Since the correction, funding rates across Bitcoin and altcoin markets have calmed, indicating less exuberance among leveraged spectators.