Why The 32 BTC Sale Mattered More Than The Number Suggests

Wintermute’s weekly market update laid out the sequence clearly.

Bitcoin’s bid had already thinned for weeks, retail was selling crypto to chase equities, and US institutions had quietly turned bearish.

The Saylor disclosure simply removed the last reason for bulls to hold on.

“32 BTC is immaterial. Saylor selling for the first time in four years, into a market already bleeding flows, is not,” Wintermute wrote.