If you are still thinking why #Bitcoin just dropped below $70.5k today to its lowest level since mid-April, stop looking at the RSI levels and look at the latest SEC filings, Bonds Yield, ETFs and Technical As we discussed in our previous posts these are core factor that are bearish until it's not break $79.2k resistance due to that $BTC can dump and now it is on the way to its lower levels


But now today another biggest psychological bullish in the entire crypto market just broke
Strategy (the company formerly known as MicroStrategy) just disclosed they sold a portion of their Bitcoin treasury to help fund preferred-stock dividend payments
The actual dollar amount they sold is small compared to their total stack, but the volume doesn't matter right now
Michael Saylor built a multi-billion dollar corporate identity around two words: "Never sell." Retail traders have used that exact promise as their ultimate reason to hold through every single dip over the last few years
But the reality of corporate finance just showed
When a public company needs to service yield obligations, the "diamond hands" meme goes right out the window
They just signaled to every other institution that it is completely fine to treat #BTC like any other liquid asset when the balance sheet demands it
On-chain data shows whales have already paused their accumulation this week
Don't let blind loyalty to turn you into exit liquidity in mid term
The big money is actively managing their risk and booking capital
Make sure you are doing the same
Instead of buying here wait patiently until there is major fundamental bullish thing we see
$BTC ‌#IntroducingGateStocks #WinGoldBarsWithGrowthPoints
BTC-4.57%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned