TLDR
- Bitcoin fell below $62K after Strategy disclosed a 3,588 BTC sale.
- Strategy sold 3,588 BTC for about $216M to fund dividends.
- Bitcoin later recovered toward the $63,800 level.
- Spot Bitcoin ETFs recorded $266M in net inflows on July 6.
- BlackRock’s IBIT led Bitcoin ETF inflows with $209M.
Bitcoin recovered above $64,000 after briefly falling below $62,000 following Strategy’s disclosure that it sold 3,588 BTC for about $216 million to fund dividend payments.
The sale marked Strategy’s largest disclosed Bitcoin disposal and initially weighed on market sentiment. Bitcoin later bounced toward the $63,800 area, while spot ETF inflows and short-term buying helped stabilize the move.
Bitwise CEO Hunter Horsley wrote, “Bitcoin wants to be higher.” His comment came after Bitcoin erased much of the decline tied to Strategy’s sale.
Strategy Sale Triggers Sharp Bitcoin Move
Bitcoin fell from nearly $64,000 on Sunday to about $62,000 on Monday after Strategy disclosed the sale of 3,588 BTC for about $216 million.
Strategy said the proceeds would fund dividends on its Digital Credit securities. The company still holds 843,775 BTC and remains the largest corporate Bitcoin holder.
The filing also showed Strategy still has $1.25 billion of Bitcoin sale capacity available under its Bitcoin Monetization Program. That remaining capacity has kept traders focused on whether more sales could follow.
MSTR shares also reacted before the market opened, falling about 4% in pre-market trading. Bitcoin’s drop was short-lived, but the filing added pressure after a futures-led weekend rally.
Futures Rally Unwinds After Filing
Sunday’s move toward $64,000 was mainly driven by futures activity rather than spot buying. Net futures buying reached about $415 million for the day, including one four-hour burst of roughly $687 million.
That futures move forced about $33 million in short positions to close. However, spot flows during the same session were slightly negative, leaving the rally exposed to a quick reversal.
Monday’s decline reflected that setup. When Strategy’s filing became public, leveraged positions unwound and Bitcoin quickly moved lower.
The price later recovered as selling pressure eased. The rebound showed that the market absorbed the initial shock, though analysts continue watching whether cash demand improves.
ETF Inflows Support Bitcoin Recovery
Bitcoin spot ETFs recorded $266 million in total net inflows on July 6, according to SoSoValue data cited by Wu Blockchain. BlackRock’s IBIT led the day with $209 million in net inflows.
Ethereum spot ETFs also recorded $29.08 million in total net inflows. BlackRock’s ETHA led that group with $29.74 million in single-day inflows.
The ETF data gave traders a reason to look past the Strategy sale. Spot ETF demand remains one of the key signals for institutional interest in Bitcoin.
Still, on-chain analyst Darkfost said apparent Bitcoin demand has stayed negative for most of the year. The metric improved from a June 3 low of minus 275,000 BTC to about minus 75,000 BTC, but it has not returned to positive territory.
Bitcoin Faces Key Support and Resistance
Bitcoin was rejected near the $64,500 to $65,000 resistance zone, according to trader Ted. He said the next important support sits near $62,500 to $62,800.
Source: X
Ted added that a daily close below that range could push Bitcoin toward $60,000. For now, traders are watching whether Bitcoin can hold above short-term support after the rebound.
Bernstein analyst Gautam Chhugani maintained a $150,000 year-end Bitcoin target. He said Bitcoin’s roughly 54% decline from its October 2025 high near $125,000 remains smaller than the 75% to 90% drawdowns often seen near the end of prior cycles.
