Bitcoin: Strategy Sells $216M BTC, Price Drops Below $62K
Bitcoin drops below $62,000 after Strategy sells $216 million in BTC, liquidating $78 million in longs while retaining $1.034 billion authorization.
SourceAnalysis
Bitcoin fell below $62,000 after Strategy disclosed $216 million in Bitcoin sales, with over $78 million in long positions liquidated in twenty minutes.
Strategy sold 3,588 BTC across two weeks at an average $60,200, keeping 843,775 BTC acquired at $75,476 while $1.034 billion remains authorized under the $1.25 billion monetization program. On the 4h chart, price tests the lower Bollinger support at $61,735 while the EMA50 at $61,806 acts as immediate resistance and the EMA200 at $64,374 caps any recovery; the MACD death cross and neutral RSI at 44.51 confirm sustained bearish momentum that aligns with ongoing BTC price action and fresh crypto liquidation events.
Bull Theory
@BullTheoryioResearch, Trades, onchain plays and all other crypto stuff simplified.Publishes institutional-grade cryptocurrency research and blockchain market intelligence. Delivers in-depth analysis of on-chain metrics, tokenomics, and decentralized finance (DeFi) ecosystems. Features proprietary data models, investment thesis breakdowns, and macro-level crypto trend forecasts. Provides strategic insights for sophisticated investors navigating digital asset markets. Maintains rigorous methodology in fundamental and technical analysis across crypto assets.
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