Bear Market Rally Over?

Apr 14, 2026 • 2 Min Read

Discussed in today's video:

Large STRC Issuance Fails to Lift BTC: Strategy likely deployed significant capital into BTC today via STRC issuance. Volumes reached ~$1.5B, the highest on record, implying roughly $1.1–1.3B of incremental demand. Despite this, BTC finished lower on the day, retracing from an early move higher and trading back toward ~$74k. The inability to hold gains in the face of this magnitude of flows suggests meaningful supply above ~$75k–$76k. Ex-Dividend Dynamics a Near-Term Headwind: With the April 15th ex-dividend date approaching, it is possible that some dem...

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Illustrations by Karl Wimer.