Bitcoin had its third-worst week of the year with a 5% drop, closing out week 38. Over $17 billion in options expired, influencing the spot price. Bitcoin needs to hold above $107,252 to maintain an uptrend. The U.S. economy grew by 3.8% in Q2, with jobless claims dropping. Metals are up, but Bitcoin remains 10% below its peak.

Bitcoin treasury companies are facing mNAV compression. Strategy barely positive YTD, with the MSTR/IBIT ratio at 4.8, the lowest since October 2024. Strategy’s enterprise mNAV is 1.44, with positive returns from some preferred stocks. Bitcoin’s low volatility is a concern for MSTR’s performance. Metaplanet struggles despite holding 25,555 BTC.

Read more at Yahoo Finance: Bitcoin Trails Equities, Metals, and USD in Q3. Here Is a Key Level to Watch for Next Move