Strategy posted a $12.54B Q1 loss and broke its "never sell" narrative. Q1 AI earnings split into a clear pattern: AMD +16%, Alphabet +10%, SanDisk +500% YTD. Rigid supply meets inelastic demand.
April delivered roughly $2B in net spot Bitcoin ETF inflows, the strongest month of 2026. May opened with four consecutive trading days of buying that lifted BTC from the $67K range to above $81K.
BTC's break above $80K on May 4 triggered $302M in crypto shorts liquidated, four times the longs. Short positions are stacked above current price. Spot demand must take over from leverage for the rally to extend.
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Strategy (MSTR) just broke its "never sell" pledge after a $12.54B Q1 loss, while Q1 AI earnings produced one repeatable formula: rigid supply, inelastic demand, +500% returns. April delivered $2B in net Bitcoin ETF inflows, the strongest month of 2026, and May opened with four straight
