Bitcoin price falls up to 4% on Strategy BTC sale as trader sees Summer 2022 repeat
Bitcoin fell sharply into the Monday U.S. market open after Strategy disclosed it sold 3,588 BTC through July 5 to fund preferred dividend payments and rebuild cash reserves. BTC/USD briefly dropped near $61,000, wiping out holiday gains and posting daily losses above 4%, before recovering to around $62,000. Traders said the news likely accelerated an already weakening market, with some pointing to positive funding rates and a TWAP buyer potentially supporting price near $61,000–$64,000. Views were mixed: one analyst compared the setup to late-stage 2022 bear-market behavior, citing the 50-month EMA as possible resistance, while others saw bullish weekly RSI divergences and broader onchain reversal signals. Some also argued Strategy could later announce larger BTC purchases than its recent sales, potentially aiding a rebound.
