How High Can MSTR Stock Price Go as Bitcoin Rebounds to $70k

MSTR stock climbed nearly 9% in after-hours trading on Friday as Bitcoin approached the $70,000 level. The rally followed softer-than-expected U.S. inflation data, which supported risk appetite across financial markets. Renewed strength in Bitcoin has now shifted attention toward how high the stock could move in the current cycle.

As CoinGape reported, U.S. CPI inflation rate drops to 2.4% the lowest in four years as consumer prices rose by 0.2% monthly. The figures eased fears about ongoing inflationary pressures and bolstered expectations of future Federal Reserve rate cuts. Risk-sensitive assets rose, such as cryptocurrencies and shares of companies linked to the sector.

How Bitcoin Surge Impact MSTR Stock?

Bitcoin rose following the inflation data release, which also pushed the crypto-related stocks higher. Coinbase stock were up 16.5%, while Marathon Digital and Riot Platforms climbed 9% and 7%. This simultaneous action in the crypto-related stocks served to underscore further that the price action in Bitcoin and MSTR were highly correlated.

In an X post, Kaleo likened the current market structure to how price was behaving in 2021-22. Kaleo added that MSTR stocks could see an all-time high in value, and not long after even somewhere around the $1,000 level, if BTC price continues its current bullish structure.

Other analysts also provided price projections, which were a bit more conservative in nature. BigBullMike discussed the potential price target of MSTR stocks, which could be around $340 based on the price action in wave D.

Is MSTR Stock Near a Cycle Bottom?

In an X post, Ted pointed out that in the last market cycle, MSTR stock bottomed when weekly Relative Strength Index went below 30 after a period of 65 weeks. The current cycle is now in its 66th week, and RSI moved under 30 last week, which led many to wonder if another bottom could be shaping up.

The length and declination signals appear very similar, however reversal has not been confirmed. Ted reiterated that equal cycle lengths do not necessarily mean a low has been made. Sustained price strength would be required to validate that scenario.

Analyst Wayne Liang cited historical performance in outlining potential upside. He cited a previous monthly breakout which yielded a 2,075% advance. Another monthly breakout may be forming according to analyst – with no specific price target included.

Michael Saylor, the executive chairman of Strategy, said billions in capital have been raised to continue purchasing Bitcoin. The firm has said it does not intend to sell Bitcoin despite unrealized losses.

Yet the technical setup for Bitcoin still conditions expectations. Analyst Ash Crypto says Bitcoin is making an “Adam and Eve” pattern, which many also see as a bullish formation. A move above $72,000 might clear the path for a run toward $80,000. As of press time, BTC is trading at $69,789, up by 1.13% over the past day.