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Bitcoin rose 1.8% to $63,853.85 after Donald Trump expressed support for cryptocurrency, offsetting earlier sales by Strategy.
Bitcoin rebounded 1.8% to $63,853.85 on Monday, reversing an earlier decline, after former President Donald Trump stated he had "become a big crypto guy" [1]. The move followed Strategy's disclosure of $216 million in bitcoin sales, which had initially pushed the cryptocurrency below $60,000 [1].
| At a glance | |
|---|---|
| Bitcoin Price | $63,853.85 [1] |
| Daily Change | Up 1.8% [1] |
| Earlier Low | Below $60,000 [1] |
| Strategy Sales | $216 million [1] |
Bitcoin's price movement on Monday was marked by significant volatility. The cryptocurrency initially fell more than 2%, dipping toward $60,000, after Strategy, a major corporate holder, disclosed multiple bitcoin sales [1]. This marks Strategy's second sale this year, following a shift in its corporate policy in May that allows for sales for "capital allocation purposes" [1]. Barclays analysts noted that Strategy's prior public promise never to sell bitcoin had been a key part of its investment thesis, and the recent sales have negatively impacted market sentiment [1].
Strategy sold approximately $80.8 million worth of bitcoin between June 29 and 30 at an average price of $59,256 per token, followed by an additional $135.5 million in sales from July 1 to 5 [1]. These transactions reduced its holdings to 843,775 bitcoin, valued at about $52.1 billion, with an average cost-per-token of $75,476 [1]. Despite these sales, bitcoin later turned positive after Trump's comments, trading up 1.8% on the day [1].
Trump's remarks came during a news conference where he was asked about the potential inclusion of bitcoin in the recently launched Trump Accounts, tax-advantaged 503A accounts designed for long-term savings [1]. These accounts, which went live over the holiday weekend, are expected to drive inflows into U.S. equities through broad-market exchange-traded funds [1].
The cryptocurrency market has seen broader shifts, with bitcoin largely trading between $60,000 and $70,000 since Strategy's policy change in May [1]. On June 24, bitcoin briefly touched $59,000, its lowest level since October 10, 2024 [1]. Shares of Strategy rose 1% on Monday, while its preferred stock, STRC, gained almost 3%, though it remains below its $100 par level [1]. Cantor analyst Ramsey El-Assal views Strategy's bitcoin sales as an effort to support its preferred stock, which he considers the company's "center of gravity," rather than a commentary on the cryptocurrency itself [1].
The interplay between corporate strategy, political commentary, and market sentiment continues to shape bitcoin's price trajectory, with Strategy's balance between its various stakeholders remaining a key factor [1].
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 6, 2026 · How we report
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