Michael Saylor said Strategy is gearing up for another round of Bitcoin purchases, pairing the update with a cryptic post urging investors to "think bigger." Strategy now holds 766,970 Bitcoin. With an average cost basis of $75,644 per coin, the position is sitting on an unrealized loss of about $14.5 billion. The company has been funding its accumulation with STRC preferred shares. The structure implies an annualized return requirement of roughly 2.05% to cover dividend payments. The approach could come under pressure if Bitcoin trades sideways or declines over an extended period.

CoinDesk reported on Sunday that, despite ongoing geopolitical risks, analysts still see bitcoin climbing to $88,000 and beyond, citing crypto-specific tailwinds such as supportive flows. About 16 hours later, the chart is pushing back. Bitcoin (BTC) was rejected at a major technical barrier: a descending trendline that has guided prices lower since October 2025, when the token peaked above $126,000. Price rolled over on contact with that resistance. A descending trendline links a series of lower highs, often interpreted as waning buying power and increasing seller control. The longer it holds—and the more often price fails there—the more it reinforces the idea of a sustained bear phase. In BTC's case, the line has been intact for roughly six months. Since early February, bitcoin has rebounded from around $60,000 to above $71,000, recently trading near $70,841.40. While the move looks constructive in isolation, it still sits within the broader downtrend defined by the trendline. The overnight test and subsequent pullback marks a classic trendline "rejection," suggesting sellers defended the level as expected. Technicians typically look for a decisive close above the trendline on meaningful volume—not a brief intraday break—before treating it as a true trend reversal. Until that happens, the downtrend remains the dominant chart signal. The disconnect now is between fundamentals and price action. Analysts highlighted data such as the Coinbase premium, ETF inflows and macro factors as potential catalysts for an $88,000 rally. The chart, by contrast, is flashing caution after the rejection at the six-month bear-market trendline. Two paths are in focus. One is that the latest failure draws heavier selling and pushes BTC down toward $65,000. The other is that bitcoin grinds higher and ultimately breaks through the trendline—a development that would better align the technical picture with the bullish fundamental narrative. Until then, the chart and the bull case remain at odds.

Huoxing Finance reports that Bloomberg Senior Commodities Strategist Mike McGlone said in a post on X that the crypto bear market could still be in its early phase. He added that if market beta weakens, Bitcoin may have room to drop toward $10,000. McGlone noted that since Bitcoin spot ETFs began trading in January 2024, total returns for the iShares Bitcoin Trust ETF (IBIT) and the SPDR S&P 500 ETF Trust (SPY) have been broadly similar. Over the same period, IBIT's volatility has been about four times that of SPY, with a 200-day correlation close to 0.5. Without meaningfully higher returns, he said, that combination of elevated volatility and correlation typically works against optimal portfolio allocation. He also pointed to the expansion of the crypto universe since Bitcoin launched in 2009, saying the number of crypto assets has grown into the millions. In his view, most lack fundamental backing, yet many are still assigned valuations in the billions of dollars.

Bitcoin dropped to $71,000 following an order by President Donald Trump to impose a blockade in the Strait of Hormuz.

MARKET: More than 13 million Bitcoin addresses are currently holding BTC at a loss, according to Glassnode.

Some crypto industry watchers believe Adam Back, CEO of Blockstream and recently singled out by The New York Times as the most likely identity behind Satoshi Nakamoto, may have had a second motive for engaging with the paper's reporting: generating no-cost publicity for Bitcoin Standard Treasury Company (BSTR), his bitcoin treasury firm nearing a public debut. Investigative reporter John Carreyrou said Back agreed to be photographed by a NYT photographer in Miami weeks before the story was published, raising questions about why someone who is not Satoshi would participate in a feature that was set to identify him as Satoshi. "If you're IPO'ing a company — it's pretty damn good PR. Particularly when the cost is roughly zero," ETF analyst James Seyffart wrote. The speculation comes as BSTR moves toward completing a SPAC merger with Cantor Equity Partners I. The transaction includes a $1.5 billion PIPE, described as the largest ever announced for a bitcoin treasury vehicle. BSTR is expected to launch with more than 30,000 BTC on its balance sheet, placing it among the largest public bitcoin treasury holders. The merger had been expected to close in Q1 2026, pending SEC review and shareholder approval. Whether the headlines were planned or simply welcomed, the renewed Satoshi attention arrived at a commercially advantageous moment.

Data shows notable Bitcoin balance reductions among several miners: MARA sold more than 15,000 BTC, Riot disposed of about 3,700 BTC, and Cango sold roughly 2,000 BTC. Bitdeer's Bitcoin holdings have fallen to zero.

U.S. spot Bitcoin exchange-traded funds drew more than $240 million in net inflows on Friday, adding fresh institutional support as Bitcoin held above the $72,000 threshold. The inflows came alongside a price rebound, though analysts remain split on where BTC heads next. Data compiled by Farside Investors shows net spot Bitcoin ETF inflows of roughly $240 million on April 10. BlackRock's iShares Bitcoin Trust (IBIT) led the group with $137.6 million in single-day inflows. Fidelity's Wise Origin Bitcoin Fund (FBTC) followed with $78 million, while smaller allocations went to Bitwise, ARK and other issuers. The print was among the larger daily totals seen recently, signaling continued institutional buying despite lingering market skepticism. Bitcoin's ability to attract steady ETF demand has helped keep prices supported above $72,000. As of Saturday, April 11, BTC was trading around $72,700. Technical signals, though, look less decisive. Crypto analyst Ted Pillows said Bitcoin is approaching a key inflection point, noting on X that BTC is hovering near $73,000 and that reclaiming the $73,000–$74,000 area could set up "one final push." He added that he expects a reversal to fresh lows afterward. A TradingView chart shared by Pillows depicts a range-bound setup, with the $72,000–$74,000 zone now acting as a central battleground. The chart also highlights potential support levels below, particularly near $66,000 and $60,000. Failure to hold current levels could open the door to a deeper correction, while a sustained move higher would raise the odds of a push toward $76,000 and above in the short term. Derivatives positioning points to a more mixed backdrop. Analyst Michaël van de Poppe highlighted data showing large speculators heavily net long while commercial traders are net short. He said the setup resembles prior instances seen ahead of a major breakout in 2023, but cautioned it does not guarantee an immediate rally and increases the probability of volatility. Van de Poppe also noted that Bitcoin has spent roughly the past year and a half grinding through consolidation ranges, arguing that markets have repeatedly resisted meaningful downside. Based on the structure, he sees a higher likelihood of a move toward the $80,000–$85,000 area before any larger reversal. With strong ETF inflows colliding with speculative derivatives positioning, BTC is approaching a pivotal zone. Ongoing corporate accumulation by companies such as MicroStrategy and Metaplanet remains a supportive factor, but crowded speculative exposure could amplify price swings. For now, the $72,000–$74,000 band is the key level: a clean break higher could extend the rally, while rejection may point to a near-term pullback.