Bitcoin Takes Hit as MSTR Sells Off $2.5 Million in BTC

Bitcoin has taken a hit in recent days, falling 1.53% over the past week to trade at $76,807. This decline comes amidst a period of heightened volatility for Bitcoin, with prices ranging from $74,000 to $78,000.

The sell-off was exacerbated by news that Strategy (MSTR.US) had sold 32 BTC, worth approximately $2.5 million, as part of its first-ever sale of Bitcoin since 2022. According to MSTR's CEO Phong Le, the move was a deliberate limited test aimed at demonstrating operational flexibility.

Despite the recent decline, CryptoQuant suggests that Bitcoin has not yet reached the bottom, with prices currently only 9% higher than the realized price of $53,600. However, market fatigue and near-term technical resistance are keeping traders on high alert.