Bitcoin Surges Past $64,000 on July 7 Despite Strategy's $216M Sell-Off

According to Daily An, on July 7, Bitcoin surged past $64,000 despite Glassnode reporting that Strategy had sold roughly $216 million worth of Bitcoin overnight. The price hit $64,286 by early morning before settling at $64,002 as of 9 AM, indicating that selling pressure from long-term holders has eased significantly.

On-chain data showed long-term holders' daily exchange transfers declined from an average of 8,040 BTC one week prior to 4,130 BTC recently. Derivatives markets also stabilized, with Bitcoin perpetual futures funding rates rising to 9%, suggesting balanced long and short positioning, and Deribit's put option premium holding at 1.15 (neutral levels), indicating reduced risk-off signals.