The timing couldn’t have been less convenient. Just as a key technical indicator flashed a sell signal for Bitcoin, Michael Saylor confirmed Strategy had offloaded 3,588 BTC for approximately $216 million, a combination analyst Ali Martinez described as “not exactly what bulls want to see.”
Martinez, who posts on X as Ali Charts, flagged the TD Sequential sell signal on X, noting its appearance at the same moment Strategy’s Bitcoin sale hit the wires. The TD Sequential is a momentum indicator widely followed in crypto markets for identifying potential trend exhaustion points.
A sell signal at this particular juncture, layered on top of a large institutional sale from Bitcoin’s most prominent corporate holder, created a double-edged moment for market sentiment.
Related: Michael Saylor reveals why Strategy sold Bitcoin and why critics are wrong
Why Strategy sold, and what it still holds
Saylor confirmed the transaction in a post on X, stating that Strategy sold the Bitcoin specifically to fund dividend payments on its Digital Credit securities.
As of July 5, the company holds 843,775 BTC in reserve alongside $2.55 billion in cash, a position that remains the largest corporate Bitcoin holding in the world by a significant margin.
The sale represents a fraction of total holdings, but the context matters. Earlier, Martinez drawn structural comparisons between Strategy’s STRC debt mechanism and the feedback loops that contributed to Terra/Luna’s collapse, arguing that falling Bitcoin prices force higher dividend obligations, which in turn drain cash exactly when the core asset is losing value.
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Saylor’s sale, executed to meet those precise obligations, reinforces that concern rather than dispelling it.
A pattern worth watching
This is not Strategy’s first sale under pressure. The company sold 32 Bitcoin earlier this year under similar circumstances, a move Saylor described at the time as two basis points of total holdings — de minimis by design.
At 3,588 coins, Saylor’s transaction is a different order of magnitude, and Martinez’s observation that it coincides with a technical sell signal adds a layer of market timing that bulls will find difficult to dismiss.
Related: Analyst compares Saylor to crypto’s ‘biggest villain’
This story was originally published by TheStreet on Jul 7, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
Source: Original Article
