Happy Monday!

Bitcoin just can’t get off the mark at $70,000 and the answer as to why is simple, Glassnode says: watch how much profit is being taken.

Strategy just can’t stop buying Bitcoin. Michael Saylor’s company has added another $1 billion in BTC, but so far MSTR is not reacting…

Plus, before a breakout shows up on a chart, it shows up in the rankings and scanners. That’s where momentum builds and strength starts to separate. Tomorrow at 6 PM ET, see how Ryan Faloona and Tim Melvin use Benzinga Pro to find those names early. Save Your Spot Now

TOP STORY

Bitcoin's Stuck Because Sellers Take $20 Million In Profits Per Hour: Glassnode

Trump just blockaded the Strait of Hormuz — and Bitcoin is paying the price.

Hours after U.S. and Iranian negotiators failed to agree on an extended ceasefire in Pakistan, President Trump announced the U.S. Navy will blockade all ships entering or leaving the strait, sending crypto prices lower during Sunday morning U.S. hours.

Glassnode data shows traders are already selling $20 million worth of Bitcoin per hour to lock in profits, confirming the $70,000-$80,000 zone is a distribution band, not a breakout launchpad.

SPECIAL OFFER

The Stocks Starting To Move Aren’t The Ones You’re Watching

Before a breakout shows up on a chart, it shows up in the rankings and scanners. That’s where momentum builds and strength starts to separate. Tomorrow at 6 PM ET, see how Ryan Faloona and Tim Melvin use Benzinga Pro to find those names early.

QUICK N DIRTY

Bitcoin, Ethereum, XRP are stuck to start the new week as ceasefire talks drag on: here’s what else is driving markets today.

Anthony Scaramucci can’t understand the bearishness around Bitcoin: “the asset didn’t change, the price did,” he says.

Bitcoin will not have to suffer much longer, according to Bitwise’s Matt Hougan. here’s why he sees the crypto winter thawing in April.

FINTECH FOCUS

Strategy Buys 13,927 Bitcoin For $1 Billion As MSTR Squeezes Into A Make-Or-Break Level

Strategy dropped another $1 billion on 13,927 Bitcoin last week — funded entirely through STRC preferred stock sales — bringing total holdings to 780,897 BTC at an average cost of $75,577 and roughly $3.6 billion in paper losses at current prices.

Michael Saylor is staying calm: "Our BTC Breakeven ARR is around 2.05%," he said, arguing Bitcoin only needs to grow faster than that rate to cover dividends indefinitely.

TD Cowen cut its price target 20% to $350 but kept the faith, calling Bitcoin treasury companies "likely here to stay."

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