Wall Street is fleeing crypto — short Bitcoin as the biggest whale starts selling
Bitcoin is clinging to support at $60,000 while institutional money flees crypto at record rates. Now, one of the largest corporate Bitcoin holders just announced it may sell over a billion dollars of its holdings, adding massive new selling pressure to an already weak market.
Idea
Bitcoin is decoupling from the broader stock market recovery, sliding even as traditional equities bounce. With $4 billion already pulled from Bitcoin ETFs this month, the institutional demand has completely dried up. The announcement that Strategy is preparing to sell up to $1.25 billion of its Bitcoin reserves acts as a massive overhang on the market, signaling to retail traders that even the biggest bulls are looking for the exit.
What happened since
| Symbol | Dir | T+1 | T+5 | T+20 |
|---|---|---|---|---|
| BTC | SHORT | +2.40% ✗ | +8.59% ✗ | — |
Price change since publication · updated Jul 11