cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

Report: Why STRC Volatility Matters More Than ETF Flows for Bitcoin

-

by

cryptd.in
in

Strategy’s preferred stock STRC is now a larger buyer of Bitcoin (BTC) in peak weeks than every US spot ETF combined.

However, unlike ETF flows, it only moves in one direction, and that asymmetry, according to a recent analysis by on-chain researchers at Pine Analytics, is why STRC’s volatility is becoming one of the most important variables for a sustained move higher for BTC.

One-Way Flow vs. Two-Way Traffic

In a report it shared on May 27, Pine Analytics made its argument, comparing STRC BTC buying and ETFs. According to the firm, during the week of March 9-15, 2026, STRC’s at-the-market share sales generated $1.18 billion, which Strategy used to buy 17,994 BTC at an average price of $70,946.

In the same week, all 12 US spot Bitcoin ETFs took in approximately $763 million combined, meaning STRC alone beat the entire BTC ETF complex.

However, the more important point that Pine’s analysts mentioned was structural, with ETF flows usually going in two directions and Strategy’s STRC in one. For example, on January 29, the ETFs posted net outflows of $817.8 million, meaning authorized participants sold Bitcoin into the market to meet redemptions. That’s a mechanism STRC doesn’t have. When holders of the stock sell, they do so in the equity market, and Strategy never touches its Bitcoin stash.

“STRC does not exist to pay a dividend. It exists to buy Bitcoin,” the market watchers wrote. “The dividend is the cost of keeping the machines running.”

More importantly, they pointed out that every dollar used to buy an STRC share creates a Bitcoin bid, while no amount of STRC selling can create a BTC ask. And that’s the structural difference: ETFs drain Bitcoin liquidity, and STRC physically cannot.

Additionally, the report mentioned that Strategy can only issue new STRC shares when they are trading at or above $100, with anything raised above the $100 par going directly to buying Bitcoin. It means that the issuance is entirely dependent on price stability.

Why Volatility Is the Main Variable

But the connection goes deeper than par mechanics, seeing as in leverage markets, lower volatility means smaller haircuts, which means more borrowing capacity per dollar held, which pulls in more institutional capital into the position.

Looking at STRC, since it was launched, its 30-day rolling volatility has compressed from 18% to about 2%, meaning every institution holding it could size up. And more capital coming in would mean more ATM issuance, more Bitcoin buys, and a stronger balance sheet for Strategy, which would then lead to a more stable STRC. It’s essentially a loop that compounds on its own track record.

As of the latest data from Strategy’s website, the 30-day historical volatility is near 4.2%, with STRC priced just below par at $99.47. That sub-par print matters, and a BitcoinQuant chart cited in a follow-up post by Pine 쇼 visible price pressure across the preferred series since March, with the firm saying, “this does not look good.”

The fragility can be consequential, as was seen earlier in the year, when a routine ex-dividend dip paused issuance and collapsed weekly BTC purchases from 17,994 to just 1,031. And a real credit event, where the peg breaks and stays broken, would shut down the ATM program entirely and remove one of the largest systemic bids in the Bitcoin market.

게시물 Report: Why STRC Volatility Matters More Than ETF Flows for Bitcoin 에 처음 등장 크립토포테이토.

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (444) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (74) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (71) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (5) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (4) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (6) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.