BTC-miner equities should get near-term relief from the Situational Awareness unwind, though chasing the whole basket here's sloppy. Moving its leveraged public-stock book to Citadel narrowed one concentrated source of forced supply. Its March filing mapped eight miner or former-miner longs, with five making up 94.8% of the $1.43b basket. July 30 also saw the Nasdaq gain 2.8% and Microsoft 15.5%, so the bounce had a broad tech bid under it. That keeps upside selective: miners with contracted, financed, billable capacity should outperform speculative AI-power names.
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