Strategy Sells $216M Bitcoin, Bollinger Bullish on BTC: Hodler's Digest
Bitcoin dips but recovers after Strategy dumps 3,888 BTC. Bitcoin's realized profit and loss ratio falls to a 43-month low of -0. 35, a figure that signals a market bottom says CryptoQuant. Hodler's Digest.
Strategy sells 3,588 Bitcoin for $216M to fund dividendsMichael Saylor'sStrategy sold 3,588 Bitcoin(BTC) to fund preferred stock dividend payments and replenish its cash reserves. Strategy sold the Bitcoin for $216 million, reducing its total holdings to 843,775 Bitcoin, according to a Monday8-K filingwith the US Securities and Exchange Commission. This included 1,363 Bitcoin sold at an average price of $59,256 between last Monday and Tuesday, and 2,225 Bitcoin sold at an average price of $60,773 between Wednesday and Sunday. Strategydisclosed the sale of 32 Bitcoinin early June, as its first reported Bitcoin sale since the 2022 tax-loss transaction. Before Strategy disclosed its latest Bitcoin sale, Bernstein said the company was unlikely to be forced to sell its holdings, citing its liquidity position and cash reserve coverage. Bernstein's report said Strategy had 17 months of cash to cover dividend obligations and interest payments. It added that the company remained a net buyer of Bitcoin and served as a strong "balancing force" in a market where leading US Bitcoin miners are net sellers due to their pivot to AI. Donald Trump says ‘nothing wrong’ with $1. 4B crypto windfall while in officeUS President Donald Trump has responded to criticism of his 2025 financial disclosures, showing thathe earned $1. 4 billion in income from crypto-related ventureswhile in office. In a Thursday interview with CNBC’s Joe Kernen, Trumpsaidthat there was “nothing illegal” and “nothing wrong” with profiting from his crypto investments as president. He claimed that other people were responsible for his investments and he didn’t “even know who they are,” not directly answering questions about perceived conflicts of interest as president. Trump’s commentsfollowed the releaseof his 2025 financial disclosure report by the US Office of Government Ethics, showing that he took in more than $2 billion from his businesses and investments, about $1. 4 billion of which was connected to crypto projects like his memecoin and family’s platform World Liberty Financial. Many advocacy organizations havecharacterizedthe investments as a “grift” allowing the president to influence related legislation like the Digital Asset Market Clarity (CLARITY) Act. Trump disclosed that his memecoin generated about $636 million, World Liberty sales about $588 million and $197 million from equity in a stablecoin venture. TrumpUS senator calls for ban on elected officials issuing memecoinsSenator Kirsten Gillibrand, one of the US lawmakers behind negotiations for a digital asset market structure bill in Congress, hasproposed barring elected officials and the president from issuing or sponsoring their own tokens, citing President Donald Trump’s and First Lady Melania Trump’s memecoins. In a Friday notice, Gillibrandsaidthat Congress should support measures barring elected officials and their spouses from “issuing or sponsoring their own digital assets. ” The New York lawmaker said that the proposed restriction would include any US president and their spouse, but did not specifically mention extending the provision to the office of the vice president or other members of their families. “This is a commonsense requirement that should get broad bipartisan support – public officials and their spouses should not be issuing memecoins,” said Gillibrand. “We cannot let self-dealing destroy an opportunity to strengthen consumer protections, crack down on illicit finance, and expand economic opportunity for the millions of Americans our financial system has left behind. ”GellibrandVitalik Buterin shares top priorities for new 'Lean Ethereum' strawmapEthereum co-founder Vitalik Buterin has named quantum resistance, scalability and privacy as three of Ethereum's top priorities undera new "Lean Ethereum" strawmap, which lays out the network's technical direction for the remainder of the decade. In a post to X on Saturday, Buterinsaidthe collection of upgrades will roll out over the next three to four years, touching nearly every layer of Ethereum in a transformation he compared in scale to the September 2022 Merge, which shifted the network away from energy-intensive mining. “Quantum safety has shifted up a LOT in priority,” he said, adding that finalizing a quantum-safe solution for blobs has “become urgent. ” Enhancing privacy is another priority, Buterin said, stating that it has become a “first class goal. ”Dankrad Feist, a former Ethereum Foundation researcher behind the payments-focused layer-1Tempo blockchain,praised the new plan but argued the 3-4 year timeline is too slow, stating that AI could help developers ship the upgrades within a year. Financial companies join forces for US dollar stablecoin, keeping reserve earningsMore than 140 companies havereportedly signed onto a US dollar-pegged stablecoin projectthat allows them to “receive all of the earnings” from its reserves. In a Tuesday notice, Open Standardsaidit was launching the Open USD (OUSD) stablecoin, a US dollar-pegged coin supported by financial companies including Visa and Mastercard, as well as crypto companies Coinbase, Ripple, OKX and Bybit. The project will allow businesses to mint OUSD “at no cost and with no artificial limits on volume,” and keep earnings from the coin’s reserves. “When Visa, Stripe, Mastercard, Coinbase and Google coordinate on a new stablecoin, the signal is unmistakable,” said Rhino. fi co-founder and CEO Will Harborne. “Open USD is the first launch with a real chance to win share from USDT and USDC, because reserve revenue flows back to everyone who holds it. But that same incentive is what drives fragmentation at scale. ”As the week continued, some of the signatories denied making any firm commitments to the consortium. OUSDWinners and losersAt the end of the week, Bitcoin (BTC) is at $64,039, Ether (ETH) at $1798, and XRP (XRP) is at $1. 14. The total market cap is at $2. 12 trillion, according to CoinMarketCap. Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are MemeCore (M) at 105%, Lighter (LIT) at 39%, and ether. fi (ETHFI) at 29%. The top three altcoin losers of the week are Venice Token (VVV) at -13%, Stable (STABLE) at -10% and Audiera (BEAT) at -5%. Top Prediction of the WeekBollinger Bands creator eyes Bitcoin bear-market end, 'W'-shaped reversalJohn Bollinger, creator of the Bollinger Bands volatility indicator, believes he has spied a “W”-shaped double bottom on BTC/USD on the charts. “$BTC has seen a series of bullish patterns broken, evidence of the power of the downtrend,” hecommentedin X posts on Friday. "Will this 'W' be the one that breaks the trend?"“W”-shaped reversals involve two swing lows with a rejected rebound in between, with price ultimately breaking through that rejection level to form a new uptrend. Bollinger has been bullish on BTC for some time. In early May, herevealed a new long positionvia his Bitcoin investment vehicle. AsCointelegraph reported, an increasing number of price indicators are flashing signals not seen since the last bear market in 2022. Despite this, market participants broadly believe that the next macro bottom is still to come and isdue in Q3 or later. Top FUD of the weekTim Draper says Arkham got Bitcoin wallet attribution ‘wrong’Billionaire investor and longtime Bitcoin bullTim Draper said blockchain analytics company Arkham incorrectly linked him to a wallet involved in a large Bitcoin transferto Coinbase Prime. “It just wasn’t me. I haven’t touched it. Arkham has it wrong,” Draper told Cointelegraph, adding that he still expects Bitcoin to reach $250,000 within one year. The statement came after blockchain analytics platform LookonchainreportedFriday that a wallet “possibly linked” to Draper had transferred 1,000 Bitcoin worth about $62 million to Coinbase Prime,citingdata from Arkham. Draper is best known in the crypto community as one of Bitcoin’s earliest high-profile investors, havingwona US Marshals Service auction for nearly 30,000 Bitcoin seized by US authorities from Silk Road-related holdings in 2014. The holdings are now worth $1. 9 billion, meaning Draper selling could have a big impact on Bitcoin's. Bitcoin profit and loss ratio falls to 43-month lowBitcoin’s realized profit and loss ratio has fallen to a 43-month low of -0. 35, a figure that signals extreme market-wide loss conditions but hashistorically coincided with market bottoms, blockchain analytics platform CryptoQuant said. The Bitcoin realized P&L ratio — which measures the net percentage of Bitcoin (BTC) in profit or loss relative to total supply — hasn’t fallen this low since December 2022, shortly after FTX shockingly collapsed and sent Bitcoin below $16,000. “Historically the indicator has marked BTC bottoms with extreme precision,” CryptoQuantsaidon Thursday. In 2015 and 2019, the Bitcoin realized P&L ratio also fell below -0. 35 before price rallies followed. The data could lift market sentiment, which has repeatedly fallen to near-record lows during the course of Bitcoin’s latest 50% drawdown from $126,080, set in October. Market sentiment hasrisencautiously over the last 10 days, with Bitcoin up more than 7% since tanking to anear two-year lowof $58,190 on June 25. Upbit says it only expressed interest in future OUSD participationSouth Korean crypto exchangeUpbit said it is not participating in the issuance of Open USD, after its operator Dunamu was named among more than 140 businesses involved in the new stablecoin initiative. “Upbit has only indicated our potential willingness to consider taking part in the future expansion of the OpenStandard ecosystem,” an Upbit spokesperson told Cointelegraph. The clarification follows similar pushback from Samsung Electronics and other South Korean companies listed by Open Standard. Accordingto a Friday report by ChosunBiz, Samsung said it had not held formal discussions with the project and did not know what role it was expected to perform. Meanwhile, Shinhan Financial Group and KBank reportedly said they had only indicated that they would consider the initiative. Cointelegraph reached out to Open Standard for comments but did not receive a response before publication. Top Cointelegraph Features of the WeekThe biggest blockchain upgrades still to come in 2026From Ethereum’s Glamsterdam and Solana’s Alpenglow, to proposed post quantum security changes for Bitcoin,2026’s key crypto upgrades are some of the most significant in years. Has Strategy’s capital overhaul put an end to ‘death spiral’ fears?Has Strategy’s new capital overhauldefused the fears swirling around STRC, or has it simply bought more time before the next bout of stress?From Bitcoin critics to blockchain believers: The 5 biggest crypto backflipsFrom crypto hater Nouriel Roubini launching the Technodollar to Bitcoin critic Peter Schiff putting out tokenized gold,meet the skeptics who are now cashing in on crypto. 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