Happy Friday!

Bitcoin tapped $79,000 on Friday morning and has just been on a tear this week. But bulls need to be cautious — here’s why.

Strategy is up a cool 25%+ this week and is finally trading around $120 again. What is the technical outlook for the stock?

Plus, join Matt Maley and Chris Capre this Sunday at 1:00 PM ET for a special webinar. They'll cover AI, yields, volatility, options, neoclouds and the upcoming roughest months.

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TOP STORY

Bitcoin Taps $79,000, Up 20% Since Monday. So Why Should Bulls Be Careful?

Bitcoin tapped $79,000 and is now up 20% since Monday, but bulls may want to check under the hood before calling it a clean breakout.

CryptoQuant’s Axel Adler Jr. says two key signals still haven’t confirmed the move: the Coinbase Premium remains negative, suggesting U.S. spot buyers aren’t fully leading the rally, while open interest measured in BTC is falling — a sign traders are closing positions rather than piling into fresh leverage.

The rally has real fuel though from Treasury buybacks, Trump’s pro-crypto comments and more than $3 billion in short liquidations, but the next test is whether spot demand can take over…

SPECIAL OFFER

The Roughest Months Ahead

This is your reminder that a special joint webinar with Matt Maley and Chris Capre begins this Sunday at 1:00 PM ET. What they're covering:

• AI & yields. Matt on the two forces he says matter most right now.

• Volatility and the roughest months. A State of the Markets across oil, gold, healthcare & biotech, defense, and Meta, plus how to trade a historically weak Sept and Oct.

• Chris on options and neoclouds. His recent option strategies, including Price Action, Options Flow, & Positioning, and a deep dive into the neoclouds.

MARKET MINUTES

PURR is benefiting from Hyperliquid’s strong performance in almost any conditions. Here’s why analysts remain bullish on the asset.

Robinhood is another stock that is benefiting from the crypto rally. How high can it go on this reversal?

ETH also has huge tailwinds at the moment, rallying more than 30% off its summer lows. And it could go up to $5,000 this year, says Arthur Hayes.

FINTECH FOCUS

Strategy Stock Rallies 27% This Week On Bitcoin Revival

Strategy is back in beast mode as Bitcoin’s revival sends shares up 27% this week, outpacing BTC’s 19% five-day gain and flipping the company’s massive crypto stack back into the green.

After sitting on a $13 billion unrealized loss when Bitcoin hit July lows, Strategy now holds a roughly $1.4 billion unrealized gain on its 840,447 BTC position.

Its cash reserve and preferred-stock buybacks give investors another reason to watch the stock as a leveraged Bitcoin play…

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