Bitcoin Drops 2%, Rebounds with Trump's Crypto Comments

On July 6, Bitcoin dropped by more than 2% after Strategy announced it had sold $216 million worth of its cryptocurrency reserves. This sale is a reversal of the company's previous stance on never selling its Bitcoin holdings.

Strategy reported a net loss of $12.54 billion in the first quarter this year due to the decline in Bitcoin prices.

Later that day, President Donald Trump said he had become 'a big crypto guy' when asked if Bitcoin could be included in tax-advantaged accounts.

The price of Bitcoin rebounded by 1.8% after Trump's statement, but experts warn that buying the dip can be risky due to the volatility of the cryptocurrency market.