Strategy's sale essentially demonstrated that it's remaining bitcoin is not an asset. As soon as it sells even a tiny amount, the price crashes. Strategy is the market.
Bitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.
Bitcoin is mired in a nasty bear market, and as of Thursday was trading at its weakest level since February. Bitcoin on Thursday fell to its lowest level since February.While U.S. stocks have kept notching record highs, bitcoin is sliding to its weakest level in months, leaving some investors wondering what they had gotten themselves into.Bitcoin slumped as low as $61,348 on Thursday, its lowest level since February. U.S. spot bitcoin ETFs have posted 12 straight days of outflows, the longest streak since the products began trading in January 2024, according to Dow Jones Market Data. Investors have pulled $3.97 billion from the funds over that stretch, the second-largest 12-day outflow on record.The selloff is raising uncomfortable questions for investors, beyond how quickly it might take for crypto prices to recover. It is testing many long-held theories about bitcoin's place in the broader universe of tradeable assets. Some are wondering why bitcoin is struggling while semiconductor
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