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HUB / On-Chain Signal
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Does a $2.5M sale from a 489,000 BTC holder actually mean anything?
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@blockonomist
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2026-06-02 16:30:39
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Strategy sold 0.0005% of its holdings and the market dropped 8%. If this isn't a signal about bitcoin's fragility, it's a signal about leverage levels. Open interest at ATH while spot demand weakens — this is the setup for a long liquidation cascade, not a trend reversal. I'm watching two numbers: funding rate going negative and OI dropping below 700K. Until then, the January low of $60K is technically in play. But I'd be surprised if we stay there long.
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