Bitcoin could be heading for a major breakout, according to on-chain analyst James Check, who says that a spike in investor interest around new financial products linked to Michael Saylor’s firm, Strategy, might signal an incoming rally.
Following a 15% surge in newly launched equity instruments, Check sees parallels to past market cycles where increased institutional involvement preceded sharp upward moves in BTC price. Strategy, which holds nearly 600,000 BTC, has recently introduced preferred stock options, drawing notable attention from traditional investors.
“Market behavior like this usually foreshadows large moves,” Check explained in his latest Checkonchain newsletter, suggesting Bitcoin might reach $120,000 faster than expected.
This view comes amid broader bullish sentiment. Falling implied volatility, climbing short positions, and stablecoin inflows between $4–6 billion per month all hint at rising accumulation by major players. At the same time, improving macro conditions, Trump’s pro-crypto stance, and talk of fresh liquidity injections in the U.S. are fueling optimism.
However, not everyone is convinced. Critic Jim Chanos argues that Strategy’s stock is overpriced, calling Saylor’s approach “financial engineering” and dismissing investor enthusiasm as irrational.
Still, with signals aligning and risk appetite growing, the stage may be set for Bitcoin to make its next move.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is passionate about questions of meaning. He is a fluent German speaker as well as He has been in the crypto space for more than three years and has an eye for spotting emerging trends in the world of digital currencies. Whether providing in-depth analysis or reporting on all topics on a daily basis, his deep understanding and enthusiasm for what he does makes him a valuable addition to the team.
Source: https://coindoo.com/are-institutions-quietly-fueling-a-bitcoin-run-to-120k/