Bitcoin Rebounds Above $63,500 After Strategy's $216M BTC Sale Triggers $214M in Short Liquidations

BTC1.48%
According to Bitstamp and Bitcoin.com News, Bitcoin rebounded above $63,500 on July 6 after Strategy sold 3,588 bitcoins for $216 million between June 29 and July 5 to fund preferred stock dividends. The sale sparked a sharp drop to $61,246, liquidating $214 million in short bets across the crypto market. Bitcoin has since recovered, gaining approximately 1.5% in the past 24 hours, while the broader crypto economy's aggregate market cap surpassed $2.2 trillion.
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