The “never sell” Bitcoin treasury trade is seriously starting to crack

Font size

On Strategy's May 5 earnings call, Strategy CEO Phong Le said plainly that “we will sell Bitcoin when it is advantageous to the company,” with Saylor adding that Strategy would “probably sell some Bitcoin to fund a dividend just to inoculate the market.” Strategy held 818,334 BTC as of May 3, up 22% year-to-date, with […] The post The “never sell” Bitcoin treasury trade is seriously starting to crack appeared first on CryptoSlate.

Continue reading on CryptoSlate

This article was originally published by CryptoSlate.

Decentralized finance analytics platform Zapper announced it will cease operations on August 3rd, citing falling demand as the primary reason. The platform, which once served over 2 million monthly active users and processed billions in transactions, joins a growing list of crypto firms folding amid a market downturn and reduced venture capital funding.

Cointelegraph

Developing·8h ago

Crypto Market Faces Grim Week Amidst Bitcoin and Ethereum Declines

The crypto market is in a rough state as July begins, with Bitcoin hovering in the low $60,000s and Ethereum below $1,750. Both assets have seen significant declines, and altcoins are performing even worse. Despite grim sentiment, historical patterns suggest potential for a rebound, though technical indicators present a mixed picture.

Decrypt

Developing·9h ago

Meme Coin Trader Turns $85 into Over $2 Million on Robinhood Chain

A trader invested $85 in CashCat, a meme coin on Robinhood Chain, in June. The investment has since grown to over $2 million, with the trader realizing $585,000 in profits and holding $1.6 million worth of tokens. CashCat's market cap has surged over 1,230% in 24 hours.

Decrypt

Developing·11h ago

Bitcoin Rebounds Above $63,000 Amid ETF Inflows, But Leverage Risks Loom

Bitcoin surged past $63,000, buoyed by a return of ETF inflows totaling over $500 million. However, rising leverage in derivatives markets and increased exchange supply pose risks to the fragile rebound, suggesting potential vulnerability to market shocks.

CryptoSlate

Developing·15h ago

Bitcoin Faces Weakest Sentiment Cycle Amid Strategy's Sale, Macroeconomist Lyn Alden Says

Macroeconomist Lyn Alden states Bitcoin is in its weakest sentiment cycle, emphasizing its need to rely on fundamentals. This follows Strategy's $216 million Bitcoin sale, raising concerns about leverage and market dynamics.

Cointelegraph

Developing·17h ago

Bitcoin ETFs See Inflows, But Broader Market Demand Remains Weak

US spot Bitcoin ETFs saw nearly $500 million in inflows over two trading sessions, ending a streak of outflows. However, demand in the broader spot market remains weak, indicated by a persistent negative Coinbase Premium Index and negative on-chain demand metrics, suggesting a relief rally rather than confirmed accumulation.