Woofun AI reports that the current STRC depeg serves as an extreme stress test for market resilience, with the duration of the repeg process directly influencing investor anxiety regarding potential Bitcoin sales by Strategy. The depeg event temporarily stripped STRC of its financing capabilities, heightening sensitivity to whether Strategy might resume offloading assets.

Murphy noted that although Strategy's previous sale of only 32 BTC represented limited actual selling pressure, it breached the psychological defenses of long-term holders (LTHs). Consequently, LTH net holdings declined, with distribution rates surpassing the combined accumulation and conversion rates of short-term holders. This imbalance disrupted supply-demand dynamics, pushing BTC from $74,000 down to approximately $60,000. While cascading sell-offs pose absorption challenges for current demand, they also create accumulation opportunities for large capital, suggesting the extreme stress test may be nearing its conclusion as prices stabilize despite negative news.