Strategy BTC Sales Spark 4% BTC Price Dip Toward $61,000
Bitcoin fell more than 4% as markets reacted to Strategy’s sale of 3,588 BTC, while traders watched for a possible buy announcement.
- On Monday, Bitcoin saw flash volatility into Wall Street open as markets reacted to Strategy selling 3,588 BTC through July 5 to fund preferred stock dividend payments.
- TradingView data showed BTC dropping to near $61,000, sparking daily losses of more than 4% as a rebound during the US session failed to recoup half of the day's losses.
- Trader Jelle noted bullish divergences on weekly time frames, arguing he has seen the BTC chart look much worse over the years; others eye $60.4K as the most important area.
- Rekt Capital appeared unsurprised by the behavior, reiterating similarities between current price action and the 2022 bear market as the 50-month EMA trend line became potential new resistance.
- Analyst Micha suggested Strategy could deliver a market rebound, while one observer wrote he would not be surprised to see a message in coming days that the firm has been buying more BTC.
17 Articles
17 Articles
Strategy Will Crash The BTC Market And Destroy Shareholders, Says Freedx CBO
An expert believes Strategy poses a huge risk for MSTR and Bitcoin holders, likening its business model to a Ponzi scam. Michael Saylor, Executive Chairman of Strategy (MSTR), doubled down on his statement that their company’s Bitcoin (BTC) holdings only require a conservative price appreciation to sustain dividend obligations. In this case, he claimed that their BTC portfolio only has to appreciate faster than 3.3% over time to ensure payments …
Michael Saylor Sells Bitcoin as Strategy Books $8.32B Paper Loss
On DHunplugged #809, Andrew Horowitz and John C. Dvorak dig into Michael Saylor's surprise sale of 3,588 Bitcoin, SpaceX's debut in the NASDAQ 100, a soft June jobs report, Oracle's 19% weekly plunge, and Tesla's record deliveries alongside an 8% stock drop.
Strategy sells $216M in Bitcoin, Alden says no corporate savior needed
Strategy's Bitcoin sale may signal a shift in corporate crypto strategies, potentially influencing market dynamics and Bitcoin's perceived stability. The post Strategy sells $216M in Bitcoin, Alden says no corporate savior needed appeared first on Crypto Briefing.
Strategy Sold Bitcoin Again. Here’s Why Michael Saylor’s Treasury Machine Is Changing
Strategy has sold Bitcoin again, and the reason matters more than the size of the sale. According to Talos research, Strategy sold 3,588 BTC between June 29 and July 5 to pay preferred share dividends and rebuild its U.S. dollar reserves. The sale represents only 0.42% of Strategy’s total Bitcoin holdings, but it marks only the third and fourth time the company has sold BTC since it began accumulating the asset in 2020. :contentReference[oaicite…
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