96 HOURS — FOMC WEDNESDAY, MSTR EARNINGS THURSDAY. RATE-HIKE ODDS RAN 25-30% INTO THE JULY 28-29 MEETING. THURSDAY TESTS WHETHER SAYLOR’S PREFERRED-STACK DEFENSE HOLDS THROUGH THE PRINT.

The tape has two prints this week and both matter. FOMC lands Wednesday July 28-29 with rate-hike odds tracking 25-30% into the meeting, off a mid-month peak near 46.5%. Fed funds sit 3.50-3.75%. Then MSTR earnings drop Thursday July 30 — the first quarterly print since the “another color” 8-K, where Strategy diluted $544.5M of common at market, bought back $25M of STRC to defend the yield floor, and skipped the Bitcoin accumulation week for the first time in a long stretch. Two questions get answered inside 96 hours. Does the STRC yield floor hold through the FOMC decision. Does the preferred-coverage guidance in the earnings deck reload the war chest or signal that Bitcoin accumulation is now second in the priority stack. Both are cap-structure tests read through a macro window. The Fundamentalist watches the Fed. The Capitalist watches the print. The operator class watches both, and the reload thesis is testable inside four days.