Bitcoin Slides 3.5% to $77,417 as Strategy Sale Triggers $5B Liquidation

Bitcoin fell 3.5% to $77,417 in 24 hours, dropping $2,844 as BTCUSD retreated from an intraday high of $81,148. The decline follows Strategy’s sale of 32 BTC to fund dividends, which triggered nearly $5 billion in futures liquidations and $4.4 billion in spot ETF outflows over two weeks. The move has reignited debate over whether Bitcoin can sustain its rally or faces structural headwinds.

Why Strategy’s Bitcoin Sale Sparked the Selloff

Strategy disclosed a 32 BTC sale to fund investor dividends, a move co-founder Michael Saylor had telegraphed in May. The sale itself is small relative to the company’s 840,447 BTC treasury, but it triggered a cascade of selling. Spot Bitcoin ETFs saw $4.4 billion in outflows over two weeks, flipping year-to-date flows negative despite US stocks and AI assets hitting record highs.

Technical Signals Show Overbought Conditions Ahead of Resistance

Bitcoin’s RSI stands at 70.64, marking overbought territory and signaling potential pullback risk. The MACD histogram at 1,360 points upward, but price sits just below the upper Bollinger Band at $82,538, with the ADX at 37.70 confirming a strong downtrend. Support lies at $78,720, then $75,604, with the 50-day moving average at $66,429 offering a broader floor.

Bitcoin Faces Consolidation Between $78,000 and $81,000

Bitcoin briefly topped $81,000 on August 25 before retreating, entering a sideways chop that has defined the past week. According to BitMEX co-founder Arthur Hayes, Strategy’s compressed valuation multiple, now near 1.01x enterprise mNAV, leaves little room to fund another buying cycle. Resistance stacks at $81,121, then $82,500 to $84,700, with $87,500 as the next major ceiling.

Meyka’s Forecasts Point to Divergent Near and Long-Term Paths

Meyka’s 1-month forecast of $60,901 implies a 21.3% decline from current levels, reflecting near-term pressure. The 12-month forecast of $96,695 suggests a 24.9% gain, signaling recovery potential over a longer horizon. Forecasts may change due to market conditions, regulations, or unexpected events.

Final Thoughts

Bitcoin’s 3.5% drop reflects real selling pressure from Strategy’s dividend-funded BTC sale and a structural squeeze in the company’s valuation multiple. With RSI overbought at 70.64 and price consolidating between $78,000 and $81,000, the data points to near-term caution, though Meyka’s 12-month forecast of $96,695 suggests longer-term upside remains intact.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.