STRC Is the Quiet Hand Behind Bitcoin’s Move

Bitcoin’s surge this week to $76,000, put it at its highest level in 70 days, and coincides with the 15 April ex-dividend date for the Strategy Variable Rate Perpetual Stretch Preferred Shares (STRC). We believe this significant price appreciation is attributable to a confluence of multiple layered factors. The initial catalyst was a geopolitical repricing event following the collapse of US-Iran negotiations on 12 April and the subsequent naval blockade of the Strait of Hormuz by Trump on 13 April. This macro shift abruptly caught a market positioned heavily short, triggering a rapid squeeze off the $70,700 level and liquidating an estimated $218 million in short positions. However, the true narrative lies beyond the squeeze: the resultant selling pressure was consistently absorbed by the Strategy STRC at-the-market mechanic. This mechanism effectively functions as a dedicated ‘spot su