What the data tells us

Nothing is really happening right now in terms of social or onchain data. Stablecoin leverage keeps declining, which is good. Social volume stays around regular levels, with sentiment hovering near neutral values. It corresponds with price not really moving anywhere either, but looking at the data, combined with my personal observation of social media as being quite heavily negative, there's a good chance that a move up is in the works.

Important observations

This week Strategy announced that they raised another $750M for their USD reserve. This didn't exactly help them in the immediate term, with mNAV dropping to 1.07 (MSTR's own calculation) and 0.92 (by fully diluted marketcap). Hardcore MSTR stans are defending this move, calling it a long-term vision and building a stable foundation, while others voice their concerns calling it a desperate move ahead of even worse times.

Coins in the spotlight

For today it's not coins, but something that the coins are made of. Gold and silver are making all the headlines today, with both of them hitting new ATHs. Many people heavily involved with crypto are voicing their dissatisfaction with how metals are having a blast while BTC and other coins are struggling to show a gram of performance. "Man I picked the wrong industry" is the word on twitter these days.

Conclusion

IMO a scenario where BTC goes to around 100k in the next few weeks is still in the cards, so I am positioning accordingly.