Momentum traders have been waiting for this

Trump extended the ceasefire indefinitely. Strategy bought $2.5B in BTC. The momentum signal is here. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Wednesday, April 22, 2026   The signal bitcoin momentum traders have been waiting for is here. Trump extended the Iran ceasefire indefinitely overnight, sending BTC to an 11-week high above $78,000 and triggering the short squeeze that K33 and others have been flagging for weeks. Strategy simultaneously announced its largest bitcoin purchase since 2024 — 34,164 BTC for $2.54 billion — landing on a day when $180 million in short positions sit directly overhead. The 46-day streak of negative funding rates may finally be unwinding. Read today’s full report → Market snapshot As of 8am EST Asset Price 24h BTC $77,985 +2.20% ETH $2,351 +1.73% SOL $88.50 +3.24% XRP $1.46 +2.10% Prices approximate. Visit coindesk.com/price for live data. A message from Grayscale Grayscale Solana Staking ETF (ticker: GSOL) is now delivering enhanced value to investors, including 100% staking. Solana staking rewards have historically averaged 6-8% a year.1 Learn more here.   Grayscale Solana Staking ETF (GSOL), an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (“40 Act”), and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. GSOL is subject to significant risk and heightened volatility. GSOL is not suitable for an investor who cannot afford to the loss of the entire investment. An investment in GSOL is not a direct investment in Solana. Learn more   Please read the prospectus carefully before investing in the Fund. Foreside Fund Services, LLC is the Marketing Agent for the Trust.   Potential staking rewards are earned by the Fund. The Fund’s ability to engage in staking is conditional and may be modified. Staking requires that the Fund lock up SOL for the period of time required by the staking protocol, meaning the Fund cannot sell or transfer the staked SOL, thereby making it illiquid for the period it is being staked.   1 Stakingrewards.com. The range observed is from 09/16/22 to 09/28/25 and the average over this period is 7.10%. Past performance is not indicative of future results. What matters today Markets   Story 1 of 3 BTC hit an 11-week high above $78K. $180M in shorts sit directly above it. Bitcoin topped $78,000 this morning — its highest level since early February — as the ceasefire extension and Strategy’s $2.54 billion purchase landed simultaneously. Analysts identify the True Market Mean (~$78,200) and Short-Term Holder cost basis (~$79,200) as the immediate resistance cluster; a clean weekly close above $80,000 would confirm the 46-day streak of negative funding rates is flipping into a short squeeze. $180 million in short liquidations are stacked just above current prices. $1.4 billion in weekly crypto fund inflows last week — led by BTC and ETH — underscores that the institutional bid driving this move is genuine. FOMC on April 28–29 is the next major binary event. Read more → Institutions   Story 2 of 3 Strategy just made its biggest bitcoin buy in 17 months. 815,061 BTC and counting. Strategy disclosed the purchase of 34,164 BTC for $2.54 billion — its largest acquisition since late 2024 — lifting its total holdings to 815,061 BTC, now modestly in profit at current prices. The timing is deliberate: the buy was funded through sales of STRC preferred stock and common equity, and arrived on the same morning as the ceasefire extension, amplifying the price signal. Strategy now holds more bitcoin than BlackRock’s IBIT ETF after overtaking it this week. Japanese institutional investors are also reported to be increasing exposure, adding a new geographic dimension to the demand picture. Read more → Geopolitics   Story 3 of 3 Trump extended the ceasefire indefinitely. The market had not priced this in. Trump announced an indefinite extension of the U.S.–Iran ceasefire overnight — a significant escalation of the diplomatic signal given that he had said as recently as Monday he was not likely to extend it. Equities and crypto jumped in tandem; BTC hit its highest level since early February and the S&P 500 added to its gains. Whether the extension holds depends on Strait of Hormuz traffic normalising and Iran’s conduct at the Pakistan talks. Warsh’s confirmation hearing yesterday added a separate macro layer: he affirmed Fed independence and denied any rate-cut commitment to Trump — a stance the market read as neutral-to-hawkish, but that removes one near-term uncertainty ahead of the April 28–29 FOMC. Read more → CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. 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