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Strategy shares jump with Bitcoin above $80,000 ahead of earnings call

Bitcoin spot ETFs pulled in $827 million in May’s first two trading days as Strategy’s stock rose again on Monday toward its Tuesday first-quarter earnings call.

Reported · Written up by our desk · Market Structure

Strategy’s shares climbed more than 50% over the past month as Bitcoin moved above $80,000, with the move tied to renewed institutional demand for the flagship cryptocurrency, according to DL News.

On Monday, MicroStrategy (Strategy) shares rose about 4% to nearly $184 per share, building on a 7% gain from Friday. The stock also edged higher in after-hours ahead of the company’s first-quarter earnings call on Tuesday.

DL News also cited data showing Bitcoin spot ETFs attracted $827 million during May’s first two trading days, extending a two-month winning streak. It added that more than $200 million in short positions were liquidated in a single day as the rally picked up.

The outlet framed Strategy as a leveraged proxy for Bitcoin price action and pointed to on-chain analysis from Nansen analyst Jake Kennis, who said funding conditions appear “healthy” at about 0.00045% hourly, below levels typically associated with overheating and sharp pullbacks. Kennis also noted derivatives open interest and perpetual volume volumes that suggest derivatives are playing a role in price discovery around the $80,000 level.

Latest closeBitcoin $84,310.25 ▼0.1%

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