Bitcoin: Saylor's Risk Capital Squared Model

Bitcoin lags while S&P hits records because mature capital rotates into AI monopolies raising $80 billion rounds and hot deals like SpaceX and Anthropic that bankers engineer for 10-20% pops.

Michael Saylor told @CryptoMichNL the two-word framework "risk capital squared" captures why anything good for risk assets lifts BTC and anything bad hits it harder, yet institutions chase relative value without ideology and will rotate back once those engineered pops fade.

With price at $77612.49 pressing the upper Bollinger Band resistance at $78804.41 while RSI(14) prints 94.55 overbought, a healthy retracement toward the EMA50 support at $67504.83 looks probable before continuation even as the MACD golden cross at 3207.39 keeps the longer-term bullish structure intact inside the bands.

Saylor noted Strategy bought 175000 Bitcoin this year against a 32-coin sale that equals two basis points, underscoring that the AI industry impact on crypto flows explains the lag far more than any corporate action and sets up the relative-value question for Q4.