New York, Feb 8, 2026, 07:12 EST — Market closed
- Strategy shares finished the week on a strong note, rebounding hard after a punishing two-day drop.
- Crypto-linked stocks got a boost as Bitcoin climbed back over $70,000.
- Traders are turning their attention to crypto liquidity and how options positioning is shaping up for late February.
Shares of Strategy Inc soared 26.1% Friday, finishing at $134.93 and recovering sharply from Thursday’s 17.1% slump. The Nasdaq ticker MSTR was recently changing hands near $135.15 after hours. Investing.com
U.S. equity markets are closed for the weekend, leaving bitcoin as the next focus. The cryptocurrency was trading at about $70,864 early Sunday.
Bitcoin rebounded above $70,000 on Friday after tumbling to nearly $60,018 earlier, buoyed by gains in tech stocks and precious metals. Still, the crypto options market reflected persistent nerves, with traders zeroing in on $60,000 and $50,000 put strikes expiring Feb. 27, according to Derive.xyz data. “Demand for downside protection is extreme,” said Sean Dawson, research head at Derive.xyz. Reuters
The strain hasn’t really let up. Bitcoin slipped under $61,000 on Thursday, clawed its way back, but analysts say liquidity remains thin and price swings keep getting exaggerated. “Reduced liquidity translates into sharper and more erratic price movements,” said Thomas Probst, research analyst at Kaiko, the crypto data firm. Andrew Moss, who heads digital assets research at Jefferies, added that he sees “few bullish indicators” pointing to a sustainable bottom. Reuters
Friday’s action came right in the thick of a wider risk-on surge across Wall Street. The Dow notched its first-ever close above 50,000. Nasdaq? Biggest single-day jump since late November. Dakota Wealth’s Robert Pavlik, senior portfolio manager, flagged technical buying after that earlier selloff. Reuters
Strategy’s bitcoin stake still drives the stock. According to a Feb. 2 filing, the company picked up another 855 bitcoins last week—spending $75.3 million through Feb. 1—which pushes its total to 713,502 bitcoins at an average cost of $76,052 each. The latest buys tapped proceeds from its at-the-market stock program, allowing it to periodically sell shares on the open market. SEC
Wild moves in crypto hit straight to the bottom line. Strategy posted a $12.4 billion net loss in the fourth quarter, or $42.93 a share, as digital assets whipsawed, and on the call, Executive Chairman Michael Saylor doubled down on a long-haul take for adoption and regulation. “The actions by big finance, the actions by the big banks and the actions by the financial regulators are the fundamentals,” Saylor told analysts after the numbers dropped. Reuters
Volatility is rattling more “digital asset treasury” companies—these are public firms that hold crypto on their books so shareholders can grab some indirect exposure. Shares in Smarter Web Company, listed in the UK, tumbled almost 18% on Thursday. Reuters noted drops for bitcoin-holders Nakamoto Inc and Japan’s Metaplanet as well. “Capitulation mode” is how Coin Bureau co-founder Nic Puckrin described the scene, as bitcoin slid through important support. Reuters
But Strategy’s rebound is a double-edged sword. Should bitcoin stumble, the stock tends to magnify the slide, and another sharp drop could complicate and raise the cost of the fresh fundraising the “buy more bitcoin” playbook depends on.
Come Monday, traders are eyeing that $70,000 mark for bitcoin to see if it holds, and there’s the matter of late-February options positions—whether they start to unwind remains to be seen. Any new word on Strategy’s bitcoin purchases, or a jolt in crypto prices while equities aren’t trading, might shape how the market opens.
