#BTC#OnChain#Glassnode
📍 BTC's biggest liquidation cluster sits near $60k.
These are longs opened near the bottom, and price has not tested their entries since it shot up in August.
#Strategy#BTC
📍 Strategy now holds 850,364 BTC, more than BlackRock's IBIT and more than any government. That is 4.2% of the circulating supply, so the largest corporate treasury is bigger than the largest spot ETF.
Still, removal wouldn't force the company to sell any of its 850,364 BTC.
The key question now is how much pressure an exclusion would put on MSTR, and whether that would slow Strategy's future BTC buying.
#MSCI#Strategy
📍 Strategy ($MSTR) could be dropped from MSCI's major indexes tonight, putting about $1.6B in shares at risk. MSCI will announce its decision at 11 p.m. CET under new rules aimed at non-operating companies, and Strategy has been flagged for possible removal.
JPMorgan earlier estimated outflows of up to $2.8B, though that figure was calculated before the rules were finalized.
For BTC holders, the concern is that Strategy pays for its BTC purchases by selling shares, so a lower stock price could make fundraising harder.
OPEC keeps its demand and supply forecasts unchanged and projects a strong 2027 demand rebound (+2.6 mb/d). That implies room for DoC production to keep rising, but the pace depends on the return of disrupted Gulf volumes and on rebuilding stocks.