MSTR Stock Rebounds, Retesting $450 as Bitcoin Nears All-Time High
MicroStrategy (MSTR) stock is showing signs of recovery, potentially retesting the crucial resistance at $450 in the stock market today. This rebound aligns with Bitcoin's price surge, nearing its all-time high, and the bullish performance of other Bitcoin treasury companies in the stock market. MSTR, the largest publicly traded Bitcoin holder with 640,031 coins worth $78 billion, has rebounded to an intraday high of $355 after a 40% crash. This mirrors the performance of other Bitcoin treasury companies like Metaplanet, which became the fourth largest Bitcoin holder worldwide after acquiring over 30,000 BTC. Technical analysis suggests MSTR's stock price could continue its bullish trend towards $462 in the stock market today.
Bitcoin's price rebound, from $108,585 to $122,250, coincides with MSTR's rally. Technicians suggest Bitcoin could jump to $131,250 in this cycle, indicating more upside potential in the bitcoin price.
MSTR's stock rebound, driven by Bitcoin's price surge, positions the company for a potential retest of the $450 resistance in the stock market today. With Bitcoin's price nearing its all-time high and technicals suggesting more upside in the bitcoin price, MSTR's bullish trend is likely to continue, benefiting from its significant Bitcoin holdings.
