Bitcoin Surges to New Highs Amid Macro Sentiment Boost

The cryptocurrency market experienced a broad recovery over the past 24 hours, with total market capitalization increasing by 4.6% to $2.35 trillion. Bitcoin led the move, rising 4.57% to trade near $68,578.

The rally was supported by improved macro sentiment following President Donald Trump's recent State of the Union address, according to analysts. This is a significant test for Michael Saylor's Strategy, which has become one of the most shorted large-cap stocks in the US, with 14% of its market value being sold short.

Strategy currently holds 717,722 BTC, valued at approximately $47 billion. However, the company's average acquisition cost across all holdings stands near $76,020 per Bitcoin, which is higher than the current market price. This has put pressure on the stock, with shares trading around $135, down 60% over the past six months.