BTCUSD The heatmap showed nothing below us on the 24hr and 12hr right before this drop. It has me confused as to what the market maker is going for besides psychological trauma
BTCUSDMSTR For those that trade BTC or MSTR as opposed to holding, here is a tidbit from the MSTR 10-Q that will come into play around 3:50 p.m. eastern time tomorrow:
"The Market Value of Bitcoin Held at End of Quarter Using Ending Market Price represents a mathematical calculation consisting of the market price of one bitcoin on the Coinbase exchange at 4:00 p.m. Eastern Time on the last day of the respective quarter multiplied by the number of bitcoins we held at the end of the applicable period."
Translation: Saylor has a huge incentive to pump the price of BTC at the NYSE close tomorrow as high as possible so that it will make his numbers for the quarter look better. Keep that in mind and plan your trades around it.
The way MSTR sold off today, especially toward the close, could indicate he did a large ATM to have bullets ready for tomorrow. Grifters gonna grift.