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Why Iran is likely the bigger short-term driver than Saylor #BTC sales
I mentioned a few days ago that there is more "bad" news top come - The $BTC chart is clear that we have been correcting higher since the FEB low and we need a further low.
When Bitcoin dropped below $73k recently, the selloff coincided with:
U.S. strikes on Iranian targets,
renewed Middle East escalation,
oil moving higher,
risk assets selling off globally,
nearly $1 billion in #crypto liquidations.
Why the Saylor news matters psychologically
The actual sale was tiny:
Strategy sold only 32 BTC $2.5 million
while still holding 843,706 BTC worth over $60 billion.
From a supply perspective, 32 BTC is irrelevant.
The market reaction is more about symbolism.
For years Saylor's message was essentially:
Never sell.
Now #Strategy has:
openly discussed selling BTC,
moved BTC to Coinbase Prime,
and completed its first BTC sale since 2022.
That changes the narrative.
The market is asking:
If the biggest Bitcoin holder is willing to sell, does that change the whole treasury-company model?
That's why the news hit sentiment harder than the actual BTC amount would justify.
This fits with the BTC cycle and the big picture EW structure
Your thoughts pls ......