Bitcoin: Strategy Sells 32 BTC for First Time Since 2022
Bitcoin drops below $72000 after Strategy sells 32 BTC worth $2.5 million, its first sale in 3.5 years while still holding 843706 BTC purchased for $63.86 billion.
SourceAnalysis
Bitcoin fell below $72000 after Strategy disclosed the sale of 32 BTC worth $2.5 million, marking its first disposal in 3.5 years.
The firm previously sold 704 BTC in December 2022 for tax-loss harvesting before repurchasing 810 BTC two days later. Michael Saylor stated last month that Strategy could sell Bitcoin to fund dividends yet would acquire 20 BTC for every one sold. The company retains 843706 BTC, representing roughly 4% of total supply acquired at a cost of $63.86 billion.
Price action on the 4h chart shows BTC testing lower Bollinger Band support at $72330.5 with RSI at 24.53 in oversold territory while the MACD death cross at -530.31 confirms bearish momentum and price sits below both EMA50 at $74509.61 and EMA200 at $76413.74, pointing to sustained downside pressure until a reclaim of the $74707.63 upper band occurs.
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