Bitcoin (BTC) continues its consolidation phase, trading around $95,000 as of Wednesday evening. This stability comes as investors await two significant events: MicroStrategy’s Q1 earnings report and the impending deadline for the U.S. Treasury’s Strategic Bitcoin Reserve evaluation.​
MicroStrategy’s Q1 Earnings: A Potential Catalyst
MicroStrategy, the largest corporate holder of Bitcoin, is set to release its first-quarter earnings on Thursday, May 1. Analysts anticipate a narrower loss per share of $0.11, compared to $0.31 in the same quarter last year, with expected revenues of $116.6 million, marking a 1.2% year-over-year growth.​
The company’s aggressive Bitcoin acquisition strategy remains under scrutiny. Notably, MicroStrategy has nearly exhausted its $21 billion at-the-market (ATM) shelf offering announced in October 2024, with only $128.7 million remaining.
This capital was primarily used to bolster its Bitcoin reserves, reflecting Executive Chairman Michael Saylor’s commitment to expanding the company’s BTC holdings.​
Investors will be keenly watching for any announcements regarding new funding strategies or additional Bitcoin purchases during the earnings call, as such moves could significantly impact BTC’s market dynamics.​
Strategic Bitcoin Reserve Deadline Looms
The U.S. Treasury faces a May 5 deadline to deliver its evaluation on the establishment and management of a Strategic Bitcoin Reserve, as mandated by President Trump’s executive order issued on March 6.
While official communications have been limited, the approaching deadline has heightened market anticipation.
The initiative aims to position the U.S. as a leading holder of Bitcoin, with the reserve formed from seized assets and designed to be budget-neutral.
Analysts suggest that the reserve could drive long-term institutional adoption and elevate Bitcoin’s status as a strategic asset.
Institutional Inflows Signal Continued Confidence
Institutional interest in Bitcoin remains robust. U.S. spot Bitcoin ETFs recorded an inflow of $172.78 million on Tuesday, April 29, continuing a positive trend since mid-April .
These inflows underscore growing confidence among institutional investors and could provide upward momentum for BTC prices.​
Market Outlook: Awaiting a Decisive Breakout
Bitcoin’s price action has been relatively stable, hovering around the $95,000 mark for the past five days.
After surpassing its 200-day Exponential Moving Average (EMA) at $85,000 last week, BTC rallied by over 11%.
Market participants are closely monitoring the upcoming events, as outcomes from MicroStrategy’s earnings and the Treasury’s reserve evaluation could serve as catalysts for a significant price movement.​
ADDITIONAL BITCOIN RESOURCES:
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