Bitcoin Tops $64,000 as Market Absorbs Strategy's $216 Million Sale
Strategy disclosed the sale of 3,588 bitcoin worth about $216 million, creating the main source of selling pressure at Monday's market open. Corporate bitcoin holdings often shape market assessments of institutional demand and liquidity. Whether buyers could absorb the position was also key to bitcoin's near-term trajectory around the $64,000 level.
Bitcoin initially retreated after Monday's open on news of Strategy's sale, but buying in the futures market later drove a rebound and pushed the price back above $64,000. Bulls ultimately absorbed the supply of 3,588 bitcoin valued at $216 million. Another report estimated the transaction at $213 million, with the difference potentially reflecting the time at which it was valued.
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The history behind this eventBitcoin Corporate Treasuries Log Rare Three-Week Selling Streak as BTC Trades Near $66,000
Adding Bitcoin to corporate balance sheets was expected to create long-term buying demand. However, a Capriole Investments indicator tracking net purchases and sales by public companies has recorded net selling for three consecutive weeks for the first time. Coin Bureau analyst Nic Puckrin warned that BTC could revisit bear-market lows unless new demand emerges, though the unwinding of leverage and speculative positions could also help reset the market’s structure.
As of February 23, 2026, BTC was consolidating at around $66,000. Cango’s holdings fell from 8,095 BTC on February 8 to 3,644 BTC, worth $246 million. Genius Group reduced its holdings from 180 BTC on February 5 to 84 BTC, worth $5.6 million, while Bitdeer sold its entire 943-BTC position. U.S. spot Bitcoin ETFs also recorded net outflows for five consecutive weeks, totaling about $2.6 billion in 2026.
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