Bitcoin Rebounds as Michael Saylor Clarifies Strategy’s $5bn Sale Claim
Bitcoin (BTC) rebounded; the price is up 2% in 24 hours to $63,322 as investors reacted positively to Michael Saylor’s explanation about Strategy Inc.’s $5 billion bitcoin sales plan.
The digital asset experienced about a 6% surge in trading volume with a transaction value of about $15 billion over the last 24 hours.
BTC slightly outperformed a broadly flat market amidst easing geopolitical risk after the US cancelled planned military strikes against Iran.
US President Donald Trump cancelled planned military strikes against Iran on the morning of August 2, contingent on a deal to reopen the Strait of Hormuz.
This de-escalation lowered the immediate risk premium in oil prices, which had been a primary macro headwind driving inflation and Fed rate-hike expectations.
The move provided a clear, positive catalyst for broader risk assets, with Bitcoin benefiting from reduced macro uncertainty.
In a latest announcement on X, Strategy Inc. co-founder Michael Saylor clarified that the company has never had a “never sell” policy but expects to remain a net buyer of Bitcoin over time.
The Bitcoin treasury firm had authorised a BTC sale of up to $5 billion to fund preferred stock dividends after posting a quarterly loss of $8.22 billion in the second quarter of this year.
In an X post, Saylor noted that they announced their BTC Monetisation Program in June before their Q2 results and not after posting a loss. He added that they never had a “never sell” policy and that the program does not require them to sell any Bitcoin.
This is neutral for market sentiment. It provides transparency, reassuring investors that limited sales are for corporate finance management, not a shift in the long-term thesis. It reinforces MicroStrategy’s role as a bellwether for corporate Bitcoin adoption.
Strategy currently holds 843,775 BTC that was purchased for a total of $63.69 billion, averaging $75,476 per BTC. The company has gone five weeks without a Bitcoin acquisition.
Supporting the momentum, derivatives activity showed a 19.94% drop in 24h Bitcoin liquidations to $27.33 million, indicating reduced forced selling pressure. Technical analysis places the current price near the 38.2% Fibonacci retracement level at $63,051, acting as minor support.
The price rise appears primarily news-driven, with other market factors playing a supporting, confirmatory role rather than initiating the move.
Bitcoin is consolidating within a daily range between major support at $57.8K–$60.2K and resistance at $66.2K–$66.8K. The immediate trigger is the geopolitical development.
If Bitcoin holds above the recent swing low of $62,800, the next target is the $64,500–$65,000 resistance cluster. A break below $62,100 would invalidate the near-term bullish structure and risk a move toward the $60,000 support zone.
The short-term bias is cautiously bullish, contingent on the geopolitical calm holding and price defending key support. A daily close above $64,500 to confirm bullish momentum, or a break below $62,100 to signal renewed selling pressure.
The price rise is a direct reaction to reduced geopolitical tension, which alleviates a major macro-overhang. However, the market remains in a broad consolidation phase. Solana Rises as South Korean KSNET Brings Solana Pay to Asia
