Strategy said it repurchased $1.5 billion of its 2029 Convertible Notes at about an 8% discount, adding an incremental 0.7% BTC Yield and bringing total debt to $6.7 billion. The company reported holdings of 843,738 BTC and a 13.3% BTC Yield year-to-date, as Bitcoin traded through a choppy week that ended near $76,341.

CryptoQuant contributor XWIN Japan said rising US equity short interest may reflect hedging rather than outright bearishness, and that improving liquidity later this year could steer more institutional capital toward BTC. Bitcoin dropped to around $74,000 over the weekend, rebounded above $77,000, then slipped a few hundred dollars below $77,000, leaving it down almost 30% over the past year. Separately, Ali Martinez reported active addresses fell nearly 40% in two weeks (821,000 to 494,000) and flagged $78,000 resistance and $76,000 support.

Bitcoin slid nearly 10% to $74,027 on May 23 after a $766 million liquidation event hit leveraged positions, then rebounded to reclaim its monthly open. Bitfinex analysts say the bounce has struggled near the weekly open, with $79,000 framed as a heavy breakeven resistance level that could cap a near-term recovery.

On May 26, Peter Schiff said Strategy Inc. may be depleting cash after using $1.38 billion to repurchase $1.5 billion of 2029 convertible notes, leaving about $871 million in reserves. He argued the balance could strain the firm's Bitcoin accumulation and hinted it might need to protect STRC dividends without selling BTC. Strategy later reported retiring debt at a discount, raising $2 billion via STRC and buying 24,869 more BTC, with holdings listed at 843,738 BTC valued around $65 billion.

BitMine increased its Ethereum holdings by another 111,942 ETH and said its unrealized loss on the position is estimated at $7.35 billion to $8 billion, even as ETH traded below $2,200. Separately, Strategy (MSTR) used about $1.38 billion in cash to repurchase $1.5 billion face value of 2029 convertible notes at roughly an 8% discount, leaving its 843,738 BTC holdings unchanged.

On Monday, May 25, an unidentified wallet sent 107.1302 BTC (valued at more than $8.2 million) to a bitcoin burn address, making the funds permanently unspendable. The transfer, first flagged on Tuesday by Timechainindex.com founder Sani, lifted the address balance to 807.238 BTC, valued at $62.15 million. No onchain identity or clear connection to a protocol launch has been linked to the burn.

U.S. spot Bitcoin ETFs posted six straight days of net redemptions totaling about $1.55 billion from May 15 through May 22, leaving combined assets near $98.87 billion. BlackRock's IBIT accounted for roughly $1.14 billion of the outflow, while Fidelity's FBTC saw net sales of $151 million. Over the past seven days, Bitcoin hovered near $76,000 and was at $77,160 at press time as ETF demand cooled.

On May 26, 2026, Strategy said it completed a $1.5 billion repurchase of its 2029 convertible notes for about $1.38 billion in cash, an ~8% discount to par. The company said the buyback was financed with cash plus at-the-market sales of MSTR common stock and STRC preferred stock, and it also bought 24,869 BTC in the same May 11–25 window. After the transactions, Strategy reported total Bitcoin holdings of 843,738 BTC and remaining convertible debt of $6.7B.