Why did MicroStrategy short interest jump so much?

Media citing Goldman Sachs data shows shorts near 14% of market cap. Much of it aligns with a basis trade: desks buy spot-exposed ETFs like IBIT and short MSTR to stay market-neutral. This boosts reported short interest without signaling a broad bearish view on Bitcoin. It reflects hedging demand and arbitrage activity.

How does the basis trade affect Bitcoin price today?

When IBIT sees inflows, hedgers may add MSTR shorts. That can move BTC–equity spreads and influence intraday sentiment. Strong creations can support spot demand, while persistent MSTR shorting may cap equity beta. Watching IBIT flows and the MSTR/IBIT ratio helps interpret short moves in Bitcoin price today.

What price levels matter for traders right now?

Key support sits near $60,001, close to the yearly low. Resistance is around $70,289 at the middle Bollinger Band, then the 50-day average near $80,167. Losing support risks a volatility expansion. Reclaiming those averages would improve trend quality for Bitcoin price today and reduce downside pressure.

What should Australian investors monitor each day?

Track IBIT creations and redemptions, MSTR borrow costs, and U.S. cash session moves. Watch AUD versus USD, as currency shifts change local returns. Focus on daily closes around $70,289 and $60,001. During ASX hours, use limit orders to manage spreads while liquidity is lighter compared with the U.S. session.

Global Market Insights

BTCUSD Today: MSTR Short Interest Jumps on Basis Trade, February 26

ByHuzaifa Zahoor February 26, 2026

Bitcoin price today is near $64,068 (USD) on BTCUSD as markets react to a jump in MSTR short interest tied to a bitcoin basis trade. Goldman-linked data shows shorts around 14% of market cap, driven by arbitrage that pairs IBIT ETF longs with MSTR shorts. For Australians, these flows can sway spreads between crypto and equities and shape daily sentiment. We outline how the trade works, what levels matter now, and how IBIT ETF flows may impact Bitcoin price today in the short term.