Bitcoin breaks Strategy's ex-dividend slump pattern

Bitcoin has achieved a significant milestone by trading higher one week after Strategy's (MSTR) STRC ex-dividend date, breaking a six-month pattern of post-payout weakness. This upward movement is attributed to negative funding rates in perpetual futures, which are triggering short covering and contributing to a short squeeze dynamic. Additionally, a persistent premium on Coinbase indicates steady demand from U.S. investors. Strategy's ability to potentially issue new shares and purchase more bitcoin, following its stock's recovery to par value, further supports the positive outlook for the cryptocurrency.