Bitcoin recovers from Strategy’s BTC sale, funding rates hit 9%: Are bulls back?
Bitcoin sold off as news of Strategy selling BTC shook investors’ nerve but the quick rebound suggests bulls remain ambitiously positioned.
Key takeaways:
Bitcoin price quickly recovered from the selloff to $61,300 that followed Strategy’s Bitcoin sale announcement. Despite the negative impact on traders’ sentiment, the additional $216 million cash position eased concerns about the company’s ability to pay dividends and cover its debt. Does the quick recovery suggest that Bitcoin bulls back in control?
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