The signal bitcoin momentum traders have been waiting for is here. Trump extended the Iran ceasefire indefinitely overnight, sending BTC to an 11-week high above $78,000 and triggering the short squeeze that K33 and others have been flagging for weeks. Strategy simultaneously announced its largest bitcoin purchase since 2024 — 34,164 BTC for $2.54 billion — landing on a day when $180 million in short positions sit directly overhead. The 46-day streak of negative funding rates may finally be unwinding.
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BTC hit an 11-week high above $78K. $180M in shorts sit directly above it.
Bitcoin topped $78,000 this morning — its highest level since early February — as the ceasefire extension and Strategy’s $2.54 billion purchase landed simultaneously. Analysts identify the True Market Mean (~$78,200) and Short-Term Holder cost basis (~$79,200) as the immediate resistance cluster; a clean weekly close above $80,000 would confirm the 46-day streak of negative funding rates is flipping into a short squeeze. $180 million in short liquidations are stacked just above current prices. $1.4 billion in weekly crypto fund inflows last week — led by BTC and ETH — underscores that the institutional bid driving this move is genuine. FOMC on April 28–29 is the next major binary event.
Strategy just made its biggest bitcoin buy in 17 months. 815,061 BTC and counting.
Strategy disclosed the purchase of 34,164 BTC for $2.54 billion — its largest acquisition since late 2024 — lifting its total holdings to 815,061 BTC, now modestly in profit at current prices. The timing is deliberate: the buy was funded through sales of STRC preferred stock and common equity, and arrived on the same morning as the ceasefire extension, amplifying the price signal. Strategy now holds more bitcoin than BlackRock’s IBIT ETF after overtaking it this week. Japanese institutional investors are also reported to be increasing exposure, adding a new geographic dimension to the demand picture.
Trump extended the ceasefire indefinitely. The market had not priced this in.
Trump announced an indefinite extension of the U.S.–Iran ceasefire overnight — a significant escalation of the diplomatic signal given that he had said as recently as Monday he was not likely to extend it. Equities and crypto jumped in tandem; BTC hit its highest level since early February and the S&P 500 added to its gains. Whether the extension holds depends on Strait of Hormuz traffic normalising and Iran’s conduct at the Pakistan talks. Warsh’s confirmation hearing yesterday added a separate macro layer: he affirmed Fed independence and denied any rate-cut commitment to Trump — a stance the market read as neutral-to-hawkish, but that removes one near-term uncertainty ahead of the April 28–29 FOMC.
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