Strategy Sells Bitcoin For First Time Since 2022 Tax-Loss Trade
Strategy sold a small portion of its Bitcoin holdings last week, marking the company’s first disclosed BTC sale since its December 2022 tax-loss harvesting transaction. The sale is notable less for its size than for what it signals: Strategy is now willing to use a sliver of its Bitcoin stack to service the preferred equity structure it has built around its balance sheet. According to a Form 8-K filed with the US Securities and Exchange Commission, Strategy sold 32 BTC between May 26 and May 31 for roughly $2.5 million. The average sale price was $77,135 per bitcoin, net of fees and....
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Here's a look at a currently ongoing live trade in the bitcoin price, as well as tonight's strategy in the markets. As I write this, we are a matter of cents away from picking up a nice upside gain in the bitcoin price intraday strategy. In our piece this morning, we outlined the range we were going to focus on for the remainder of the European morning session and the majority of the afternoon’s trading, and that range was broken to the upside a little while ago. Unfortunately, on the first break, the bitcoin price broke back within the range and (just!) took out our stop for a small loss.....
Here’s what we are focusing on for this evening's session in the bitcoin price. In this morning’s article, the primary focus was the widening out of our bitcoin price range, and how we would use this wide range to trade an intrarange strategy. Ironically, it’s the first time we’ve done this in a couple of weeks, and it has gone against us. Normally, we implement a breakout strategy in anticipation of price breaking through our key levels and continuing as part of a sustained run in a particular direction – be that long or short. In this instance, however, we looked to trade on a correction....
A little earlier this morning we outlined our strategy for today's action in the bitcoin price. We defined our range and suggested that, if we got a continuation of the volatility we saw throughout the majority of last week, we would look to enter in the direction of the volatility on a breakout from our range. Action has now matured throughout the day - and as we head into a fresh Asian session - let's take a look at some of the levels we are looking at going into tonight. First, have a quick look at the chart. As the chart shows, action has literally just (at time of writing) broken....
Hate being liquidated? Here’s how traders use the Long Butterfly options strategy to generate profits with less downside risk. Historical data shows that it is nearly impossible to consistently predict Bitcoin’s price action and many traders that attempt this end up losing money. Now that Bitcoin trades near $50,000, the ultimate goal for most traders is to hold on to their current holdings and incrementally add to them in a way that is not terribly risky. Options strategies provide excellent opportunities for traders who have a fixed-range target for an asset. For example, using leveraged....
Here's a look at what we are focusing on in the bitcoin price this evening. In our bitcoin price analysis this morning, we set up a pretty tight range, and noted that we would look to get in and out of the markets according to the rules of our intraday breakout strategy if price broke through either of the parameters that defined this range. Action has now matured throughout the day, and we did get a break as expected. The break came to the downside, and not that long ago, and as such, we remain in a short trade as things stand. Our strategy dictates that we don’t enter a secondary trade....