Bitcoin reclaims $64k – But Strategy’s $216mln underwater sale threatens momentum
The post Bitcoin reclaims $64k – But Strategy’s $216mln underwater sale threatens momentum appeared on BitcoinEthereumNews.com. Bitcoin climbed above $64,200 in early trading on Friday, the 10th of July, strengthening its recovery even as Strategy sold Bitcoin at a loss. Holding above this level into next week could reinforce the recovery. However, the bigger question is who has been selling into the rally, and at what price. Strategy’s recent disposals weighed on sentiment. Even so, its average acquisition price remains well above that of retail investors on Binance. That gap shifts attention away from Strategy and toward retail holders, who now sit comfortably in profit and may choose to sell into strength. Did Strategy’s Bitcoin sales really matter? Strategy recently announced plans to sell part of its Bitcoin [BTC] holdings through its Digital Credit Capital Framework. The company said the proceeds would fund dividend payments and share repurchases. On the 6th of July, Strategy sol