Wublockchain assessed that the Bitcoin market is heavily dependent on Strategy and its founder Michael Saylor. He explained, "Strategy purchased over 171,000 Bitcoins this year. This far exceeds the new supply from mining companies. The acquisition funds were raised through the issuance of high-yield preferred stocks. Analysts say that Strategy currently accounts for a significant portion of Bitcoin trading and purchasing activities," and "Meanwhile, ETF inflows, hedge fund arbitrage demand, and individual investor trading have slowed down, and mining companies are selling Bitcoin to secure funds for artificial intelligence (AI) infrastructure investments."
