The Big Analysis
The principle behind "Digital Asset Treasuries" (DATs), pioneered by Strategy (formerly MicroStrategy), rests on a simple mechanism: a publicly listed company raises funds by issuing equity or debt, then uses the proceeds to buy bitcoin. As long as the market values the company above the value of its
The Big Analysis
Bitcoin retraced from 66,000 toward the 64,000 invalidation level flagged last week, as the macro tailwind powering the rebound reversed. The pullback stayed orderly, yet flows reveal a more nuanced story than price alone. The macro backdrop tightened The Fed held its policy rate at 3.75% on
The Big Analysis
Recent 2026 disclosures from IREN, Core Scientific, Riot, TeraWulf, and Cipher show that the shift to AI is now all about how it’s being paid for. The huge cost of building new AI data centers has largely shifted off miners’ balance sheets and onto big tech companies. How the
The Big Analysis
The pattern is now familiar: institutional flows rotate into Bitcoin first before trickling down, with a delay and selectivity, to the rest of the market. BTC dominance holds at 59.3%, consistent with the selective risk regime in place since October 2025. Two factors explain this rebound. A geopolitical catalyst
The Big Analysis
Until recently, gaining exposure to SpaceX equity required being an accredited investor, accessing secondary platforms through a broker (Forge, EquityZen, Hiive), or investing through fund vehicles such as Destiny Tech100 (DXYZ) or ARK Venture. A second wave then emerged with tokenized wrappers and pre-IPO tokens on Solana-based platforms,
The Big Analysis
In the aftermath of last week’s $1.5 billion+ liquidation cascade, the digital asset market stabilized over the weekend. Bitcoin consolidated in the $62,000–$63,000 range, while the broader market (TOTAL2) held near $600 billion. Digital assets once again led the move lower, preceding Friday’s equity
The Big Analysis
The digital asset market faced one of its sharpest weekly corrections in months. Bitcoin declined approximately 14% over seven days, briefly testing the 200-week moving average near $61,800, while altcoins fell over 15%. This move occurred against a backdrop of traditional equities at all-time highs, with the
The Big Analysis
Strategy disclosed the sale of 32 BTC between May 26 and May 31 for $2.5 million, earmarked to fund the dividends on its preferred shares. Thirteen days earlier, it had bought 24,869 BTC for $2.01 billion. Two opposite moves — and a balance that leaves the company a
The Big Analysis
Jeff Sprecher said something quite remarkable this week. The founder and CEO of Intercontinental Exchange, and therefore the head of the NYSE, publicly stated that Hyperliquid was "bigger than NASDAQ" even though it's a platform run by just "11 people." It's probably
The Big Analysis
Bitcoin is trading in the $77,000–$77,300 range after three bruising sessions. Following the May 18 liquidation event, BTC had drifted down to the $74,500–$75,000 zone over the weekend (May 23–24), battered by roughly $917 million in liquidations, before staging a sharp Monday rebound
The Big Analysis
Hyperliquid reached an inflection point this week. Two U.S. spot ETFs — 21Shares’ THYP on Nasdaq and Bitwise’s BHYP on NYSE — launched between May 12 and 14, 2026, delivering the first regulated exposure to HYPE, the protocol’s native token. Market reaction was emphatic. On May 21 alone, the
The Big Analysis
The weekend sell-off once again confirmed what markets already know: digital assets remain tightly correlated to the macroeconomic environment. Bitcoin fell roughly 6% over seven days, ending the week in the $78,000 zone after opening around $82,000. The trigger: an April CPI print at 3.8% year-