Bitcoin (BTC) price drop may have more to do with AI than selling Strategy: Crypto Daily

Bitcoin BTC$69,482.04 slipped below $70,000 for the first time in two months, leaving cryptocurrency markets vulnerable ahead of a week of key U.S. economic data that could determine the direction of the next move for risk assets.

The largest cryptocurrency has lost more than 4.45% in the last 24 hours and was last trading at around $69,400. Ether fell 0.6% to $1,970. The broader CoinDesk 20 (CD20) index fell 3.2% over the same period.

Crypto’s short-term setup doesn’t appear to be supportive. The spot Bitcoin ETF recorded its 11th straight day of net outflows and Strategy (MSTR), the largest corporate holder of Bitcoin, said it sold 32 BTC for $2.5 million.

Although the sale is small compared to Strategy’s holdings, it is seen as symbolically important and Bitcoin fell after the filing became public. However, not everyone sees sales as the real driver.

“Saylor / The strategy of selling a few raspberries will not cause Bitcoin to crash,” says Pierre Rochard, Bitcoin researcher and executive…