By Boluwatife Oshadiya | July 7, 2026, 9:15 AM
Key Points
- Bitcoin climbed above $63,700 after weaker-than-expected US jobs data eased Federal Reserve rate hike concerns
- Strategy sold 3,588 BTC for about $216 million, formalising Bitcoin sales to fund corporate obligations
- Strong ETF inflows and a $450 million short squeeze accelerated the cryptocurrency’s rally
Main Story
Bitcoin traded at $63,716.64 on Monday, extending gains after weaker-than-expected US employment data reduced expectations of additional Federal Reserve interest rate hikes and boosted demand for risk assets.
The rally came despite a regulatory filing showing that Strategy Inc. sold 3,588 Bitcoins between June 29 and July 5 for approximately $216 million. According to TradingView data, the company sold 1,363 BTC at an average price of $59,256 and another 2,225 BTC at an average of $60,773—both below its average acquisition cost of about $75,476 per Bitcoin.
The sale marks a significant shift in Strategy’s Bitcoin strategy. Rather than remaining solely a long-term accumulator, the company has now established a policy of selling portions of its holdings to finance corporate obligations, including stock distributions.
Investor sentiment also improved after the June US Nonfarm Payrolls report showed the economy added just 57,000 jobs, far below market expectations. The weaker labour market data reduced the likelihood of additional monetary tightening, weakening the US dollar and Treasury yields while increasing Bitcoin’s appeal.
Institutional demand also showed signs of recovery. Spot Bitcoin exchange-traded funds (ETFs) recorded $221.72 million in net inflows on July 2, ending a 10-day streak of withdrawals worth $2.7 billion. Meanwhile, Bitcoin’s move above $62,000 triggered more than $450 million in short liquidations, forcing bearish traders to buy back positions and amplifying the rally.
“The weaker macroeconomic data reduced expectations for tighter monetary policy, creating a supportive environment for digital assets,” analysts at TradingView noted.
What’s Being Said
Market analysts say Strategy’s decision introduces a new source of potential selling pressure into Bitcoin markets despite the company’s continued long-term conviction through its holdings of more than 843,000 BTC.
Crypto market analysts also note that Bitcoin has reclaimed key technical support levels, although sustained bullish momentum will require a decisive break above the $65,000–$67,000 resistance zone.
What’s Next
- Investors will monitor upcoming US inflation data and Federal Reserve communications for further interest rate signals.
- Traders are watching whether Bitcoin can secure a daily close above $65,000, which could pave the way toward the $69,500 level.
- ETF flow data will remain a key indicator of institutional demand over the coming weeks.
The Bottom Line: Bitcoin’s latest rally reflects improving macroeconomic conditions, renewed institutional inflows and strong derivatives market activity. However, Strategy’s new willingness to sell portions of its holdings introduces a fresh supply dynamic that investors will closely monitor as the market attempts to sustain its recovery.
