Bitcoin: Drops $6000 After Strategy First Sale
Bitcoin falls $6000 after Strategy discloses first BTC sale in 3.5 years, with $2.41 billion liquidated in 48 hours and holdings at 843706 BTC.
SourceAnalysis
Bitcoin has dropped $6000 since Strategy revealed its first sale in 3.5 years, triggering $2.41 billion in liquidations over 48 hours while the firm holds 843706 BTC bought for $63.9 billion at an average $75699.
The last Strategy sale in December 2022 preceded a 660% rally from $17000 to $125000, yet current conditions differ sharply with price now at $66166.11.
Technical confluence on the 4h chart shows price hugging the lower Bollinger Band support at $66001.54 while RSI at 11.71 signals deep oversold conditions and MACD at -1863.5 confirms the death cross below EMA50 resistance of $72770.41 and EMA200 at $75857.64, pointing to potential exhaustion before any rebound in BTC price prediction models.
Bull Theory
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