Strategy offloads 3,588 BTC in biggest sale since 2022; Bitcoin holds near $63,000

July 7 — CryptoQuant analyst Axel Adler Jr. said Strategy (formerly MicroStrategy) recently sold 3,588 BTC worth about $216 million, the company's largest Bitcoin disposal on record. Bitcoin prices showed little reaction, staying around $63,000. The transaction marks Strategy's first large-scale net selling since December 2022. The sale was carried out in two tranches: 1,363 BTC were sold June 29–30 at an average of roughly $59,256 for $80.8 million; 2,225 BTC were sold July 1–5 at an average of about $60,773 for $135.2 million. Total proceeds were approximately $216 million. According to the analyst, the funds were mainly used to meet preferred-share related obligations and strengthen U.S. dollar reserves, and do not signal a shift in Strategy's long-term Bitcoin posture. The company currently holds about 843,775 BTC and roughly $2.55 billion in U.S. dollar reserves. The sale amounts to about 0.4% of total holdings and is better understood as liquidity management rather than a strategic reduction. Derivatives data point to a clear cooling in futures sentiment following the disclosure. The Composite Market Index fell from around 80 in bullish territory on July 6 to 32.6, moving into bearish range and briefly nearing 20, suggesting leveraged players shifted toward more defensive positioning. Even so, spot price movement was limited, with BTC remaining above its 30-day fair value. Overall, the market is being described as "neutral to cautious": spot prices have been relatively steady, while derivatives positioning has weakened. A rebound of the Composite Market Index above 55 could indicate improving risk appetite; a prolonged stay below 45 may increase pressure on BTC to trade below fair value.