MicroStrategy’s First Bitcoin Sale Since 2022 Drives Crypto Market Cap Below $2.40 Trillion
STRC•Crypto market value slipped 1.6%, losing about $38.4 billion as MicroStrategy sold Bitcoin for the first time since 2022, breaking its streak as a symbolic buyer and pressuring sentiment. Bitcoin fell to $70,914 while Stellar dropped nearly 11% after a month-long rally, and total capitalization briefly tested support at $2.38 trillion.
1. MicroStrategy Breaks Buying Narrative
MicroStrategy sold Bitcoin for the first time since 2022, shifting from its long-standing role as a structural buyer. This disposal undermined market confidence, as traders reassessed corporate demand dynamics and widened sell pressure across major tokens.
2. Total Crypto Market Cap Tests $2.38 Trillion
The collective value of all cryptocurrencies fell by about $38.4 billion in 24 hours, pulling total capitalization down 1.6% to near $2.38 trillion. A sustained close below that level could expose a deeper correction toward the $2.23 trillion support zone.
3. Divergent Moves Among Major Tokens
Bitcoin slid to approximately $70,914 on rising sell volume, while Stellar plunged nearly 11% after its recent rally lost momentum. Meanwhile, Ethereum and select altcoins like ZEC exhibited early bullish positioning, preventing a full breakdown of market structure.
