Arena Blog

Data-driven insights on trading strategies, backtests, and market analysis.

All58 📊 Strategy Reports0 🎯 Strategy10 🧪 Backtesting16 📈 Market Analysis11 🏛️ Market Structure8 🔍 Asset Analysis1 ⚖️ Regulation0 🛠️ Tools12

Topics:#Crypto6 #Market structure6 #Bitcoin4 #On-chain3 #Strategy2 #Stablecoins2 #DeFi2 #Tokenized assets2 #Solana1 ✕ #Methodology1 #RSI1 #ETF1

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Asset Analysis

Twenty One Capital (XXI): The Bitcoin Treasury, the mNAV Problem, and What Comes Next

Backtesting Arenatradingstrategies.work

Twenty One Capital holds 43,514 bitcoin and trades at either a 41% discount or a 26% premium, depending on who is counting. Where the company came from, how its engine works, and why mNAV needs four labels.

Methodology

Jul 22, 20261 min

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