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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
As of the latest filings, MicroStrategy holds roughly 446,400 bitcoin, valued at about $63.8 billion.
The net loss was driven almost entirely by an $8.32 billion unrealized markdown on its bitcoin holdings.
The company plans to potentially sell up to $5 billion of bitcoin to increase cash reserves and may use proceeds for stock repurchases.
Revenue grew 6.9% year‑over‑year to $122.4 million, slightly below analyst consensus of $122.9 million.
Analysts view the stock as a leveraged bitcoin proxy with a high beta (~3.55), meaning its price tends to amplify bitcoin’s movements.