Strategy Sells 32 BTC, Then Buys 1,550 BTC as Market Sentiment Plunges 92%
STRC•Wintermute's June 8 note blames Bitcoin's 14% weekly decline to $62,000 on US institutional selling and ETF outflows, dismissing Strategy's sale of 32 BTC as immaterial. Analysts report positive sentiment plunged over 92% from 814 to 61, while stablecoin reserves peaked at $75.12 billion, indicating capital has not returned.
1. Wintermute's Market Prediction
Wintermute's June 8 note argues that Bitcoin's sharp 14% drop to about $62,000 resulted from US institutional selling and Bitcoin ETF outflows rather than Strategy's recent 32 BTC sale. The firm warns that no market bottom has been confirmed and structural support levels remain untested.
2. Strategy's Bitcoin Transactions
The 32 BTC sale marked the firm's first disposal since 2022 but was deemed immaterial. Shortly afterward, Strategy returned to buying with a substantial 1,550 BTC purchase, signaling continued conviction despite broader market weakness.
3. Sentiment Collapse and Capital Flows
Positive sentiment scores tumbled from 814 on June 3 to just 61, reflecting a 92% collapse in market mood. Meanwhile, stablecoin reserves on exchanges peaked at $75.12 billion, underscoring that significant buying power remains sidelined and a recovery may await renewed capital inflows.
