CoinDesk Follow Strategy's Cycle Peak Aligned with IBIT Options Debut Last November Strategy’s valuation cycle top came as BlackRock’s IBIT options launched, underscoring the interplay between equity-driven and ETF-based bitcoin exposure. Crypto News on Bluesky @crypto.at.thenote.app bsky.app https://www.coindesk.com/markets/2025/09/04/strategy-s-cycle-peak-aligned-with-ibit-options-debut-last-november coindesk.com