MicroStrategy Corrects Bitcoin Sell-Off Fears With $30 Million Withdrawal

“Did Michael Saylors Strategy cancel its BTC sale？ Strategy withdrew 411.5 BTC ($30.2M) back from Coinbase Prime 5 hours ago,” Lookonchain posed.

BTC trades near $73,532, with the broader Bitcoin treasury stocks split showing limited contagion.

Strategy still holds 843,738 BTC, valued above $62 billion. The firm has bought no Bitcoin since May 18. That pause is the longest in its weekly accumulation as corporate Bitcoin treasury demand softens.

BitMine Doubles Down on Ethereum Amid Price Weakness

BitMine bought the dip below $2,100, lifting its aggressive ETH accumulation to roughly 5.39 million ETH. That sum represents about 4.47% of supply, near Tom Lees 5% target for the year.

“Tom Lees Bitmine bought another 25,000 ETH ($50.56M) 6 hours ago,” Lookonchain noted.

The firm stakes more than 4.7 million ETH through its Made in America Validator network. The position generates an annualized yield of about $276 million. Ether trades near $2,011 after a 10% monthly decline.

Lee frames the weakness as a buying window, pointing to tokenization growth and AI demand for compute.

Backers including ARK Invest and Founders Fund maintain exposure. BMNR trades below net asset value despite unrealized BitMine ETH losses.

However, even as Tom Lees Bitmine buys the Ethereum dip, old wallets are dumping, with one selling $112 million worth of ETH in the last week.

“Ethereum OG is dumping ETH! Over the past week, an Ethereum OG sold 55,000 ETH ($112.25M) and 9,442 wstETH ($24M) at an average price of $2,041 per ETH,” the on-chain analytics account highlighted.

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