Bitcoin briefly fell below $59,000, and the market quickly narrowed its focus to two points: Strategy’s sale of 32 BTC at the end of May, and whether capital is being pulled out of crypto and into AI infrastructure projects. Michael Saylor said on X and CNBC that the latest market pressure is tied more to a broad capital rotation than to Strategy’s transaction itself, with investors chasing faster-growing opportunities in artificial intelligence.
Saylor points to capital rotation into AI
Saylor said the recent wave of large fundraising rounds for AI companies and heavy spending on infrastructure is drawing liquidity away from assets that might otherwise receive those flows, including traditional financial products and cryptocurrencies. He framed the move as part of a constant shift in capital between sectors, citing Bitcoin ETFs and large corporate deals as examples of how liquidity rotates. In his view, Bitcoin’s core thesis as scarce and liquid digital capital remains intact.
Strategy logs its first recorded Bitcoin sale since 2022
A separate point of interest was Strategy’s sale of 32 BTC between May 26 and May 31. The transaction was worth about $2.5 million, with an average sale price of $77,135 per Bitcoin. According to SEC filings, the proceeds were used to help cover dividend obligations tied to the company’s preferred stock program. Even after the sale, Strategy still holds 843,706 BTC, keeping its position as the largest institutional Bitcoin holder in the world.
The reason the trade attracted outsized attention was Saylor’s long-running “never sell Bitcoin” stance. Even so, several market watchers noted that the sale represented only about 0.0038% of the company’s reserves. That has led some analysts to treat it as an operational step rather than a strategic change in Strategy’s Bitcoin policy.
Technical readings stay cautious near key support
At the time referenced in the report, Bitcoin was trading in the $60,600 to $61,000 range. The recent decline pushed price below several important moving averages. TradingView data showed a cautious setup overall, with 14 sell signals, 9 neutral signals, and only 3 buy signals.
Momentum indicators showed a split picture. The RSI 14 was near 15, the Stochastic %K stood at 11, and Williams %R was around -91, readings that point to a market approaching oversold conditions. At the same time, MACD remained negative at about -3,922, suggesting selling pressure had not cleared, while the ADX near 42 indicated that the prevailing trend still had strength.
Analysts watch $59,000-$61,000 support and $62,000-$65,000 resistance
Independent chart analysts said Bitcoin continues to trade inside a descending channel, with lower highs and lower lows defining the structure. Analyst mohamadvalizibayi said the failure to reclaim a previously bullish FTR zone suggests sellers remain in control.
In current trading levels, the $59,000 to $61,000 area is being watched as a major support band. If that zone holds, Bitcoin could see a short rebound. If it fails, the next move could extend into the mid-to-upper $50,000s. On the upside, analysts identified $62,000 to $65,000 as the main resistance range.