Crypto analyst Murphy reviewed Bitcoin's recent capital flows, noting that whale addresses sold over 45,000 BTC each during BTC price rebounds, with some positions experiencing significant losses. Meanwhile, MicroStrategy purchased 22,337 BTC on March 17.

Gate News reports that on March 20, U.S. stock markets opened with all three major indices declining. The Dow Jones fell 0.26%, the S&P 500 index fell 0.29%, and the Nasdaq fell 0.47%. Cryptocurrency-related stocks followed the broader market decline. As of press time, MSTR fell 1.34%, BMNR fell 2.01%, CRCL fell 0.16%, and COIN fell 1.14%.

Strategy's dividend preferred stock Stretch (STRC) may be overvalued due to its high annualized dividend yield of 11.5% and significantly increased future payment obligations. While it may improve the balance sheet in the short term, if Bitcoin's appreciation fails to exceed the high dividend yield, common shareholders' returns will be limited, and the market remains cautious about STRC's long-term sustainability.

On March 19, U.S. stock pre-market crypto concept stocks experienced widespread declines, with MSTR, SBET, UPXI, BMNR, CRCL, and COIN all declining to varying degrees. msx.com is a decentralized RWA trading platform that has launched multiple U.S. stock and ETF tokens.

Gate News, on March 18, Citigroup downgraded the stock price target for Bitcoin Treasury company MicroStrategy ($MSTR) from $325 to $260.

Gate News reports that on March 18, according to market data, cryptocurrency-related stocks in the US pre-market session rose broadly. MSTR rose 0.59%; SBET rose 0.12%; SBET rose 0.24%; BMNR rose 1.08%; CRCL rose 1.5%; a certain CEX-related concept stock rose 2.09%.

The US stock market rose slightly driven by macroeconomic data and corporate earnings, with investors showing increased risk appetite for equities. Cryptocurrency-related stocks showed mixed performance, with COIN and MSTR trading characteristics closely tied to Bitcoin price fluctuations. Despite overall strength in US equities and rapid capital inflows, crypto stocks will continue to exhibit high volatility if Bitcoin fails to establish a trending rally.

Strategy purchased 22,337 bitcoins at an average price of $70,194 between March 9-15, bringing its total holdings to 761,068 bitcoins and strengthening its position as the world's largest publicly listed bitcoin holder. This increase in holdings drove MSTR stock price up approximately 6%. Market sentiment toward bitcoin has turned more optimistic, with analysts pointing out that if bitcoin maintains above $72,500, it has the potential to challenge higher price levels, while macroeconomic factors will also impact the market.

Gate News report: On March 13, most cryptocurrency stocks rose at the US market opening. Over the past 24 hours, MARA rose 8.5%, CIFR rose 7.7%, CRCL rose 5%, MSTR rose 3.9%, COIN rose 2.1%; BTGO fell 1.8%, GEMI fell 0.6%.

On March 13, the three major U.S. stock indices opened higher, with the Dow Jones up 0.47%, the S&P 500 up 0.5%, and the Nasdaq up 0.49%. Star tech stocks such as Micron and Intel rose, and multiple cryptocurrency concept stocks performed strongly, with MSTR up 4.70%.