Will Bitcoin Drop to $50,000 as Saylor’s Strategy Sells $216 Million in BTC?
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%; a rebound during the US session failed to recoup half the day's losses.
- Trader Jelle noted bullish divergences on weekly time frames, arguing "I have seen the $BTC chart look much worse than this over the years." Others eye $60.4K as critical support.
- Rekt Capital appeared unsurprised by current behavior, reiterating similarities to the 2022 bear market, while an accompanying chart showed the 50-month EMA trend line becoming potential resistance.
- Analyst Micha suggested Strategy could deliver a market rebound, as one observer wrote he would not be surprised to see Strategy announce it has been buying more BTC in coming days.
18 Articles
18 Articles
Will Bitcoin Drop to $50,000 as Saylor’s Strategy Sells $216 Million in BTC?
Michael Saylor just made his biggest-ever Bitcoin sale, with Strategy (NASDAQ:MSTR) selling 3,588 BTC worth $216 million. Saylor has long been one of Bitcoin’s (CRYPTO:BTC) loudest maximalists, and he always said to never sell Bitcoin. But things have changed. With Bitcoin down about 50% from its $126,000 peak, Saylor has now broken his own rule ... Will Bitcoin Drop to $50,000 as Saylor’s Strategy Sells $216 Million in BTC?
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.
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