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Bitcoin falls 3.1% to $62,702, its lowest since July 9, after Strategy announced a potential $5 bn Bitcoin sell‑off. See price, ETF inflows and a Coldcard
Bitcoin dropped 3.1% to about $62,702 on Friday, the lowest level since July 9, as the market digested Strategy’s plan to sell up to $5 billion of its Bitcoin holdings following a weaker‑than‑expected earnings report【1】. The move matters because Strategy is the world’s largest publicly‑listed corporate Bitcoin holder, and its selling stance reshapes supply dynamics for the broader market.
| At a glance | |
|---|---|
| Price | $62,702 |
| 24h change | –3.1% |
| Low level | $62,498 (lowest since July 9) |
| Catalyst | Strategy’s announced $5 bn Bitcoin sale plan |
Strategy reported quarterly revenue of $122.4 million, just shy of the $122.9 million consensus, and CEO Phong Le said the firm had discussed selling up to $5 billion of Bitcoin to boost cash reserves and possibly fund stock repurchases【1】. The company’s Bitcoin stash totals 843,775 BTC, valued at $63.8 billion at an implied price of $75,476 per token as of early July【1】— well above the current market price, highlighting a sizable unrealized loss. Strategy’s cash on hand sits at $1.4 billion, far smaller than its crypto holdings, underscoring the reliance on Bitcoin to fund operations【1】. Analyst commentary notes that the potential sale could “restore confidence” by adding cash, but also flags the risk of further price pressure if a large holder becomes a seller【1】.
While Strategy’s move added sell pressure, spot Bitcoin ETFs attracted $233.13 million of fresh inflows on Thursday, with BlackRock’s fund accounting for roughly 79% ($183.38 million) of that total【3】. The inflow suggests continued institutional appetite, yet the market remains choppy, with Bitcoin up only 10.95% over the past 30 days but down 41% year‑to‑date【3】. Adding to the negative sentiment, a Coldcard hardware‑wallet bug has reportedly stolen close to 600 BTC, valued at about $38 million【3】. The incident raises questions about self‑custody security and could push some retail investors toward regulated funds where custody is handled by institutions.
Two external pressures also loom. The U.S. expanded a trade blacklist affecting solar‑component imports, potentially raising operating costs for miners that rely on solar power【3】. In Japan, a possible unwind of yen‑funded carry trades could trigger broader risk‑asset sell‑offs, a scenario that would likely spill into crypto markets【3】. Neither factor has materialized yet, but they add to the cautious tone surrounding Bitcoin’s near‑term outlook.
The slide underscores how a single institutional player’s shift from buyer to seller can sway Bitcoin’s short‑term trajectory, even as institutional inflows and macro risks continue to shape the market’s direction.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Aug 1, 2026 · How we report
Microstrategy Bitcoin holds 845,050 bitcoins as of September 2026. These assets were acquired at an average price of $63.73 billion.
Microstrategy Bitcoin paused its bitcoin purchases to focus on building a cash buffer and repurchasing its own preferred stock, STRC. The company has increased its digital credit securities repurchase program to $2 billion to support these financial adjustments.
Microstrategy Bitcoin has sold small amounts of its bitcoin stash on some occasions, despite founder Michael Saylor's previous statements about never selling. CEO Phong Le has defended these sales as irrelevant to the company's overall position as a major corporate holder.
Microstrategy Bitcoin reported a $8.22 billion loss in its July 2026 quarterly earnings. As of September 2026, the company maintains $5.1 billion in a USD reserve and $1.3 billion in USD cash.