One of the headlines that attracted attention in the cryptocurrency market on Tuesday morning was the evaluation made by market commentator Wazz on X. While Wazz argued that the forced sale process in crypto had not started yet, this exit stood out as an objection to comments that Strategy’s sale of 32 BTC was insignificant.
Strategy sale created controversy again
While it is being discussed whether some sales that have been limited in the market in recent days are a sign of a greater pressure, Strategy’s 32 BTC sale has also come to the agenda again in this context. The company had previously weathered the 2022 bear market. However, the current picture reveals a different institutional structure compared to that period. While the number of companies adopting the digital asset treasury approach is increasing, there are question marks about how durable the financing structures of these companies are.
While Wazz stated that forced sales in crypto have not started yet, he wrote that this opinion largely pushes back the hot comments that Strategy’s 32 BTC sale is insignificant.
Strategy is followed as a company known for holding a large amount of Bitcoin on its balance sheet. For this reason, even the relatively small steps taken by the company are closely followed by the market. According to the evaluation conveyed in the news, it is not yet clear whether capital structures designed for the boom period can show the same durability in an environment where prices move in the opposite direction.
Bitcoin lags behind other major assets
About an hour before US stock markets opened, Bitcoin traded at $69,000. The loss in the last 24 hours was 4.5%. This decline moved Bitcoin to a weaker position among major crypto assets on the day.
In the same time period, the decline in Ether was more limited to 0.5%. Solana decreased by 2.5%. This outlook indicated that the selling pressure was felt more intensely in the short term, especially on the Bitcoin side.
The level of 63 thousand dollars is observed in the market
Among the technical levels highlighted in the text was the $60,000 bottom seen on February 6. However, it was stated that this movement remained a very short-term downward wick. For this reason, it was reported that the $ 63,000 region was considered a more meaningful threshold for a possible bottom test in the market.
In this context, it seems that the market focuses not only on individual company sales, but also on whether there will be balance sheet pressure on a broader scale. How companies that accumulate digital assets, especially through borrowing or complex capital structures, behave in case of sharp declines in prices can be monitored more closely in the coming period.
