Bitcoin recovered above $64,000 on Monday despite Strategy’s largest-ever corporate treasury liquidation, as futures and spot buying overwhelmed the initial selloff triggered by the firm’s SEC filing disclosing a 3,588 BTC sale.
Strategy, the largest corporate Bitcoin treasury holder, sold the bitcoin to fund dividend payments. The transaction generated $216 million in proceeds and left the company with $1.25 billion of additional sale capacity still untouched.
The sale unfolded across a market already primed by Sunday’s rally. Bitcoin climbed toward $64,000 on Sunday amid net futures buying of roughly $415 million, capped by a single four-hour burst of $687 million that forced-closed $33 million in short positions. That rally was almost entirely futures-driven, with slightly negative spot flows creating a setup vulnerable to forced unwinding.
When Strategy’s SEC filing went public Monday morning, Bitcoin fell from nearly $64,000 to about $62,000. Futures flows swung sharply negative, with roughly $456 million net selling in a four-hour window. Liquidations hit $42 million in bullish positions and $49 million in bearish positions as traders adjusted exposure.
The reversal came in the afternoon. Futures buying resumed at $568 million alongside $143 million in spot buying, marking the first time in days that meaningful spot demand accompanied futures strength. Bitcoin funding rates had held positive territory for over a week, including during Monday’s slide, suggesting persistent leverage remained in the market despite the intraday turbulence.
The recovery narrowed pressure zones. Bitcoin faced resistance between $62,300 and $62,800 to the upside, with support anchored at $61,000 and $59,500 below. Open futures positions stood at $20.6 billion with a 9% funding rate.
The timing adds context. The Federal Reserve is scheduled to release minutes from its June meeting on Wednesday, a potential catalyst for directional moves in risk assets including Bitcoin. Market pricing showed a 75.6% probability that Fed rates remain at 3.50% to 3.75% in July.
Strategy’s sale represents the largest single liquidation from the company’s treasury to date. The transaction underscores the sensitivity of Bitcoin price action to large corporate holders, particularly when liquidations coincide with technical setups built on leveraged futures positions rather than broad spot accumulation.
