Bitcoin Sales Weigh on Market Confidence as Strategy Unloads Nearly 7,000 BTC

Strategy, a company involved in Bitcoin mining and other activities, has been selling off its BTC holdings to fund preferred stock buybacks. This move has led to a decline in market confidence, with the price of BTC slipping below $64K. In addition to the sale of 1,690 BTC for about $109M, Strategy also raised $653M through common stock sales, pushing its USD Reserve to $4.65B. This brings the company's total Bitcoin sales for 2026 to nearly 7,000 BTC.

Meanwhile, Grayscale has quietly abandoned plans for three altcoin ETFs, including products related to Polkadot, Hedera, and Cardano. This suggests a strategic pivot away from diversified altcoin offerings by the asset manager, which may have a ripple effect on smaller issuers in the industry.

In more positive news, Standard Chartered has set a $200 price target for Chainlink by 2030, citing the token's potential role in facilitating tokenized real-world assets. This rare case of a traditional bank underwriting a specific token's long-term value highlights growing interest in blockchain infrastructure and interoperability.