Ce rapport de Citi n'est pas sans contenu : les fonds ETF commencent à se retirer, la probabilité que le projet de loi soit adopté diminue, à court terme, il n'y a vraiment pas de bonnes nouvelles à attendre.

Citi analyst says that MicroStrategy is selling Bitcoin at $66,881.93 per coin, which has a noticeable impact on market sentiment but has not changed the long-term strategy. This move is consistent with signals from the earnings call, namely the intention to dispose of tax-inefficient BTC. ETF capital flows are turning negative, and the passage of the Market Structure Act reduces the opportunity for new investments, potentially weakening interest from new investors. Although digital asset treasuries have become the main buyers of Bitcoin, related sell-offs are not the primary reason for recent market weakness. The report warns that the likelihood of passing the bill this year is decreasing, and short-term catalysts may diminish.