Bitcoin Bulls Shrug Off Strategy’s $216M Sale, Price Reclaims $64K

Bitcoin climbed toward $64,000 on Sunday, but the move was almost entirely fueled by futures traders, not real cash buyers. Net futures buying hit around $415 million for the day, including a single four-hour surge of $687 million that wiped out roughly $33 million in short positions. Spot demand stayed slightly negative, leaving the rally resting on shaky leveraged bets.

Strategy’s Sale Triggers Monday Slide

That fragile setup cracked Monday morning after an SEC filing revealed Strategy sold 3,588 BTC for $216 million to cover dividend payments, with $1.25 billion in sale capacity still remaining. Bitcoin dropped from near $64,000 to about $62,000. Futures selling reached $456 million in a four-hour window, triggering liquidations on both sides of the market.

Afternoon Recovery Looks Different

Bitcoin clawed back above $64,000 later Monday, this time backed by real spot buying of $143 million alongside $568 million in futures purchases.

Leverage Still a Risk Factor

Funding rates have stayed positive for over a week, and open interest sits near $20.6 billion, showing traders remain optimistic but exposed. Wednesday’s Fed minutes could test that positioning, with support watched near $61,000 and $59,500, and resistance between $62,300 and $62,800.