Bitcoin Treasury Bear Market Nears End, Short Sellers Back Off

The sentiment surrounding Bitcoin (BTC) is turning cautiously optimistic, with signals suggesting that the prolonged bear market for Bitcoin treasury stocks may be reaching its conclusion. A significant indicator of this shift is an investment firm's decision to terminate its short position on MicroStrategy (MSTR). The firm cited that the 'mNAV decline played out,' suggesting that the period of downward pressure on Bitcoin-holding entities might have largely run its course. This retreat by short sellers could usher in a more stable period for Bitcoin's market performance.