Strategy's Sale of Nearly 3,600 Bitcoin: Market Reactions Explained

In late May, Strategy, a Bitcoin treasury firm formerly known as Microstrategy, made headlines by selling a small portion of its Bitcoin holdings for the first time since 2022. This initial sale caused a stir in the cryptocurrency market, and now, the company has offloaded almost 3,600 Bitcoin. The question on everyone’s mind is: how are the markets responding?

For years, Strategy adhered to a strict "never sell" policy regarding its Bitcoin assets, ultimately becoming the largest publicly traded holder of Bitcoin worldwide. However, recent developments have forced the company and its founder, Michael Saylor, to alter their approach.

In late May 2026, Strategy parted with 32 Bitcoin units, a minor amount compared to its total holdings exceeding 800,000 Bitcoin. This initial sale set off a chain reaction in the already jittery crypto market, resulting in a nearly six percent drop in Bitcoin's value within hours.

Despite the market's initial panic, the situation appears to have stabilized. By the end of June and into early July 2026, Strategy sold a total of 3,588 Bitcoin in two separate transactions, raising approximately $216 million, as reported by finanzen.net.

Following this news, Bitcoin's price briefly dipped below $63,000 but quickly rebounded to around $64,000. The scale of these recent sales was much higher than anticipated, with initial on-chain estimates predicting only 491 Bitcoin to be sold.

So, why has the crypto market remained relatively calm this time? There are two main factors at play. First, it is evident that Strategy is not recklessly liquidating its Bitcoin holdings; instead, the company requires the proceeds to facilitate dividend payments. Even after these transactions, Strategy retains a substantial 843,000 Bitcoin.

Additionally, the US inflation breakeven rate, which reflects market expectations for future price movements, has fallen below two percent. This decline, along with a decrease in oil prices, has alleviated some inflationary fears in the market.

Investor sentiment has also improved since June, as evidenced by the Fear-and-Greed Index, which rose from 12 points at the end of June to 30 points by July 7, 2026. Over the past week, Bitcoin's price has surged by ten percent, reaching nearly $64,000.

The stability of Bitcoin's price, despite the significant sales by Strategy, has led some optimistic market observers to view this as a sign of the cryptocurrency's inherent strength. Notably, the controversial crypto analyst Michaël van de Poppe stated via X that there is unlikely to be any event that could drive Bitcoin's price down to $40,000 now.