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It's official.
MicroStrategy, $MSTR, is now facing its biggest unrealized loss in history, at -$10.8 billion.
In other words, after 6 years of buying Bitcoin, the company is now down -17% on its position.
By comparison, the S&P 500 is up +116% over this same timeframe.
Since MicroStrategy sold 32 Bitcoin at $77,135 per coin, their positions has lost -$11.8 billion in value.
This puts MicroStrategy's stock, $MSTR, down -77% since its record high.
Bear market is an understatement.
🚨 La Commission bancaire du Sénat approuve officiellement le CLARITY Act par 15 voix contre 9, dont 2 démocrates en faveur du texte.
Le projet de loi doit désormais être soumis au vote du Sénat en séance plénière.
🚨 La Commission bancaire du Sénat approuve officiellement le CLARITY Act par 15 voix contre 9, dont 2 démocrates en faveur du texte.
Le projet de loi doit désormais être soumis au vote du Sénat en séance plénière.
🚨 Le prix de l'or affiché n'existe pas pour qui veut vraiment sortir.
Mets 10 M$ d'or à vendre, les offres tombent 20 à 30 % sous le marché et tu patientes pendant l'authentification.
Pour 10 M$ de Bitcoin, ton ordre est exécuté en cinq minutes au prix affiché.
🚨 Le prix de l'or affiché n'existe pas pour qui veut vraiment sortir.
Mets 10 M$ d'or à vendre, les offres tombent 20 à 30 % sous le marché et tu patientes pendant l'authentification.
Pour 10 M$ de Bitcoin, ton ordre est exécuté en cinq minutes au prix affiché.
Grant Cardone reveals NOBODY would buy $10,000,000 worth of Gold at market price
“I know a guy who is trying to sell 10,000 pieces of silver and he can’t get a real offer. He’s getting a 30% discount below the market. People see it spiking like this and they’re like, ‘OMG.’ But go try to sell $10M worth of gold and see what happens. You’ll only get offers 20-30% below the market, and you won’t get the money tomorrow or in five minutes. It needs to get authenticated, checked, and validated”
“Bitcoin is a real thing. You can trade it in five minutes, and that’s real. Bitcoin, to me, is not only money, it’s also technology, unlike gold or silver”
💥 Bitcoin Open Interest sees Biggest increase of 2026, surpassing the 2025 ATHs Session
The Bitcoin market remains heavily driven by futures markets. BTC’s recent bullish momentum is largely explained by the gradual return of investors to derivatives markets.
Although funding rates have remained broadly negative for several weeks, Open Interest has just recorded its strongest increase since the beginning of 2026.
☞ It is worth noting that this increase is already larger than the one recorded during Bitcoin’s ATH formation.
➤ Binance continues to attract the majority of capital on this segment and accounts for approximately 34% of the market share with its monthly average reaching $2.5B on May 5.
➤ A similar trend can also be observed across other exchanges, notably Gateio with $1.75B and Bybit with $1.15B.
This environment stands in sharp contrast to the conditions seen earlier this year and suggests that optimism is slowly returning to the market, encouraging traders to increase their exposure to risk once again.
⚠️ That said, it also creates a more fragile market structure. Leveraged positions are rarely built to last over time, and their liquidation could significantly amplify volatility and the risks associated with the market.
📊 Les 10 blockchains du tableau cumulent 489$ de fees par jour.
Soit 178 000$ par an. 8 d'entre elles affichent leur FDV : 1,9 milliard cumulé.
Le marché les valorise environ 10 700X leurs revenus annuels.
Spéculation pure.
📊La thèse high-watermark est solide pour expliquer les outflows fin de mois.
Ce qu'il faut ajouter pour la lecture complète : avril 2026 termine quand même à +2,44 milliards d'inflows nets sur les ETF Bitcoin. Le meilleur mois de l'année.