Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, suggests Bitcoin's price could establish a permanent floor above $100,000. The analyst cites improving U.S.-China relations, anticipated Federal Reserve rate cuts, and rising institutional demand through spot ETFs as key factors supporting this structural shift in BTC valuation.

Bitcoin gained 1.23% in October, trading 7% below levels needed to fully recover from mid-month losses. A single address accumulated 2,772 BTC worth approximately $309 million on October 26, bringing the entity's estimated average acquisition price to $111K. On-chain data show 91% of circulating supply now sits in profit, with short-term holder cost basis rising above $113K.

S&P Global Ratings assigned Strategy Inc. a B- credit rating on October 27, 2025, marking the first formal assessment of a Bitcoin treasury company by a major credit agency. The junk-grade rating reflects Strategy's approximately $70 billion Bitcoin exposure and $8 billion in dollar-denominated debt obligations. The rating agency cited structural balance sheet challenges stemming from the mismatch between Bitcoin assets and dollar-denominated liabilities.

S&P Global Ratings assigned Strategy (MSTR) a B- credit rating on October 27, 2025, marking the first time a major credit agency has rated a bitcoin treasury company. The speculative-grade rating reflects increased default risk from the firm's bitcoin-focused balance sheet. S&P maintained a stable outlook citing the company's capital markets access and debt maturity timeline extending to 2028.

Bitcoin's profitability metrics show 83.6% of supply now in profit, while leverage positions total approximately $15 billion across exchanges. Short positions worth $2.7 billion cluster above current price levels, with $1.1 billion in long positions stacked below. The compressed setup creates conditions for potential volatility.

S&P Global Ratings assigned Strategy Inc., formerly MicroStrategy, a B- issuer credit rating, citing concerns over the company's Bitcoin-focused business model. Strategy holds 640,808 Bitcoins valued at approximately $74 billion, making it the largest corporate Bitcoin holder globally. The rating agency highlighted currency mismatch between the firm's Bitcoin assets and its U.S. dollar-denominated debt obligations as a primary risk factor. Strategy maintains roughly $8 billion in outstanding convertible debt and owes more than $640 million annually in preferred dividends.

American Bitcoin Corp purchased approximately 1,414 bitcoins for over $160 million, bringing total holdings to around 3,865 BTC valued at nearly $450 million. The acquisition placed the company among the top 25 public bitcoin treasuries globally. The firm combines mining operations with direct market purchases to optimize acquisition costs.

S&P Global Ratings assigned Strategy Inc. a B- credit rating, six notches below investment grade, citing concentrated Bitcoin holdings of approximately $74 billion and limited U.S. dollar liquidity. The agency warned the company faces over $640 million in annual preferred dividend payments and billions in convertible debt maturing through 2028, creating potential refinancing risks if Bitcoin prices decline sharply.