Bitcoin Rebounds to $63,624 After Trump Backs Crypto as Strategy Sells $216 Million
Updated
Updated · CNBC · Jul 6
Bitcoin Rebounds to $63,624 After Trump Backs Crypto as Strategy Sells $216 Million
3 articles · Updated · CNBC · Jul 6
Summary
$63,624.44 bitcoin erased an earlier drop and rose 1.5% Monday after Donald Trump said, “I’ve become a big crypto guy,” lifting sentiment around the token.
More than 2% losses earlier in the session followed Strategy’s disclosure that it sold $216 million of bitcoin in two batches from June 29 to July 5, its second sale this year.
843,775 bitcoin remain on Strategy’s balance sheet—worth about $52.1 billion—but Barclays said the sales undercut Michael Saylor’s long-standing no-sale message and hurt market confidence.
Strategy shares still gained 1% and preferred stock STRC rose nearly 3%, with Cantor arguing the sales were aimed at supporting STRC rather than signaling a bearish view on bitcoin.
Since Strategy adopted a policy in May allowing sales for capital allocation, bitcoin has mostly traded between $60,000 and $70,000, briefly touching about $59,000 on June 24.
Is Strategy's Bitcoin sale a savvy financial pivot or a quiet betrayal of its 'digital gold' promise?
With its biggest corporate backer now selling, is Bitcoin's value just one political comment away from collapse?
Bitcoin's $8.3B Write-Down, Trump’s Pro-Crypto Policies, and the Battle Over Stablecoin Yields: The 2026 U.S. Digital Asset Regulatory Crossroads
Overview
Bitcoin faced a notable decline in early 2026, with its price dropping for three straight months. If Bitcoin falls below $80,000 and does not recover quickly, $74,000 becomes a key support level, as buyers showed strong interest there in April 2025. During sharp price drops, long-term buyers often see these downturns as buying opportunities, stepping in to accumulate more Bitcoin, while retail investors may panic and sell. This pattern highlights how market volatility, buyer behavior, and critical price levels interact to shape Bitcoin’s recovery and future trends.