$BTC |
$MSTR:
@Strategy is sitting at ~$94.46B in Trading Volume over the last 6 weeks.
As of 09-18-2026,
$MSTR is showing renewed engagement following the potential “cool-off” we discussed last week:
EoW 08-14: ~$7.30B Traded on ~76.2M Shares [-9.1%]
EoW 08-21: ~$19.48B Traded on ~180.1M Shares [+166.7%]
EoW 08-28: ~$21.25B Traded on ~165.7M Shares [+9.1%]
EoW 09-04: ~$17.92B Traded on ~133.8M Shares [-15.6%]
EoW 09-11: ~$9.57B Traded on ~71.3M Shares [-46.6%]
EoW 09-18: ~$18.94B Traded on ~137.3M Shares [+98.0%]
Note: “EoW” - [End of Week] “WoW” - [Week Over Week]
In last week's post, using the trading data from the week ending 9-11 as context; I noted that the market could be moving from a re-acceleration period into a justification period, where the market was testing whether August’s renewed engagement could hold. We now have a legitimate response to that question.
After a shortened week due to Labor Day, total dollar volume increased [98.0%] WoW, while share volume increased [92.7% WoW. Average daily dollar volume rose [58.4%] to ~$3.79B, while daily share volume rose [54.2%] to ~27.47M shares; a notable increase in the number of shares changing hands as opposed to higher prices simply lifting nominal dollar volume.
If we compare these totals against the week ending 9-4-26 (the last full trading week) dollar volume was [5.7%] higher and share volume was [2.7%] higher. Trading activity has recovered beyond its pre-holiday level, but is below EoW August 28 by [10.9%] in dollar terms and [17.1%] in share terms.
The trading activity was also somewhat concentrated last week: Friday 9-18 accounted for ~$8.15B traded on ~54.7M shares, representing [43.0%] of weekly dollar volume and [39.8%] of share volume. While this is entirely speculation, it's possible that the concentration we saw could be due to the fact that Friday was a Quadruple Witching options-expiration date with expiration related positioning exerting its effects.
Additionally, because the market leverages Strategy to forward-price expectations on Bitcoin, the weekend surge we saw in Bitcoins price (rising from the Friday 9-18 close of around $80,875 to a Sunday close around $86,397) provides highly relevant context.
The correlation between Bitcoin price and
$MSTR price is well known, with recent interest in Strategy noticeably driven by Bitcoin's upward momentum. Should Bitcoin maintain this trend, the market could rapidly transition from a phase of justification into one of sustained acceleration and amplification.