Bitcoin rebounds above $63K after selloff triggered by Strategy's BTC sale announcement

@cointelegraph

1d ago· 3 min readenNews

Summary

Bitcoin quickly rebounded above $63K after dropping to $61,300 following Strategy's (formerly MicroStrategy) Bitcoin sale announcement. The sale added $216 million in cash, easing concerns about the company's ability to pay dividends and cover debt. The perpetual futures annualized funding rate jumped to 9%, indicating balanced demand between bullish and bearish leverage, suggesting a potential return of bullish momentum despite the initial negative sentiment.

Source

CointelegraphBitcoin rebounds above $63K after selloff triggered by Strategy's BTC sale announcementcointelegraph.com

Key quotes

· 3 pulled

Bitcoin price quickly recovered from the selloff to $61,300 that followed Strategy's Bitcoin sale announcement.

The additional $216 million cash position eased concerns about the company's ability to pay dividends and cover its debt.

The Bitcoin perpetual futures annualized funding rate jumped to 9% on Monday, indicating balanced demand between bullish and bearish leverage.

Snippet from the RSS feed

Bitcoin rebounded back above its intra-day high following a negative response to Strategy’s latest BTC sale. Are bulls slowly building momentum?

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