{"id":75064,"date":"2026-07-07T09:40:37","date_gmt":"2026-07-07T09:40:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-bottom-signal-last-seen-at-ftx-collapse-flashes-as-saylors-strategy-dumps-3588-btc\/"},"modified":"2026-07-07T09:40:37","modified_gmt":"2026-07-07T09:40:37","slug":"bitcoin-bottom-signal-last-seen-at-ftx-collapse-flashes-as-saylors-strategy-dumps-3588-btc","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-bottom-signal-last-seen-at-ftx-collapse-flashes-as-saylors-strategy-dumps-3588-btc\/","title":{"rendered":"Bitcoin Bottom Signal Last Seen at FTX Collapse Flashes as Saylor&#8217;s Strategy Dumps 3,588 BTC"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Cryptoquant said bitcoin\u2019s realized P\/L ratio hit -0.35, its lowest reading since December 2022 after FTX fell.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The signal flashed as Strategy sold 3,588 BTC for $216 million and bitcoin rebounded above $64,000 on July 7.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Swan Bitcoin\u2019s Adam Livingston noted similar discounts preceded 41% six-month and 81% one-year returns.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>A Loss Gauge at FTX-Era Depths<\/h2>\n<p> <span>Blockchain<\/span> analytics platform Cryptoquant has spotted a signal that <span>bitcoin<\/span> bulls have been waiting months for. The realized profit and loss ratio (a metric measuring the net percentage of <span>bitcoin<\/span> supply sitting in profit or loss relative to total supply) has dropped to -0.35, its lowest reading in 43 months.<\/p>\n<p>The last time the gauge fell this far was December 2022, in the depths of the <span>bear market<\/span> that followed the collapse of <span>crypto<\/span> exchange FTX, when <span>bitcoin<\/span> traded below $16,000. The firm\u2019s analysts wrote that the indicator has historically marked <span>BTC<\/span> bottoms \u201cwith extreme precision,\u201d with comparable prints in 2015 and 2019 also preceding major recoveries rather than further crashes.<\/p>\n<figure id=\"attachment_829307\" aria-describedby=\"caption-attachment-829307\" style=\"width:1501px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-829307\" class=\"wp-caption-text\"> <span>Bitcoin<\/span>\u2019s P\/L ratio is at historic lows, suggesting a bottom, per Cryptoquant<\/figcaption><\/figure>\n<p>When this much of the supply is underwater, the holders most likely to panic-sell have largely already done so, leaving fewer sellers to push the price lower. At the time the data was captured, <span>bitcoin<\/span> traded near just under $60,000, only about 16% above its realized price (i.e. the average cost basis of all coins on the network).<\/p>\n<h2>Selling Into the Signal<\/h2>\n<p>The reading arrives at a loaded moment for the market, because the highest-profile seller is <span>bitcoin<\/span>\u2019s most famous permabull. Strategy Inc. (Nasdaq: MSTR), the treasury firm led by executive chairman Michael Saylor, disclosed in a regulatory filing on July 6 that it sold 3,588 <span>BTC<\/span> for <a href=\"https:\/\/news.bitcoin.com\/strategy-sells-3588-bitcoin-for-216-million-to-cover-dividend-payments\/\">roughly $216 million<\/a> between June 29 and July 5, using the proceeds to fund preferred dividends and rebuild its dollar reserves to $2.55 billion.<\/p>\n<p>The sale was quickly absorbed by the market, but <span>bitcoin<\/span> still remains roughly 50% down from its October 2025 record of $126,080. That said, it has held the $60,000 area through the heaviest selling pressure of the cycle so far.<\/p>\n<p>Swan <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin<\/a>\u2019s Adam Livingston noted that when <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> has traded at comparable discounts to its trend, forward returns have averaged 41% over six months and 81% over twelve months. Moreover, Bernstein analyst Gautam Chhugani is of the view that the current 54% drawdown <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/2074321879222174150\" target=\"_blank\" rel=\"noopener noreferrer\">remains far smaller than the 75% to 90% declines<\/a> that ended previous cycles, and the Wall Street firm maintained a constructive long-term view.<\/p>\n<p>Even Strategy\u2019s sale is being reframed as bottom fuel with Grayscale Head of Research Zach Pandl arguing that the company\u2019s shift to selling <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> as needed for its dollar reserves reduces tail risk and \u201ccould help <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> find a more durable bottom.\u201d<\/p>\n<p>None of this makes the bottom certain because onchain indicators can only describe conditions, not offer guarantees. Macro pressure from the unwinding artificial intelligence (AI) trade and continued exchange-traded fund (ETF) outflows could still test the lows, and Strategy\u2019s monetization program leaves room for up to $1.25 billion in total sales.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/bitcoin-bottom-signal-ftx-collapse-saylor-strategy\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Cryptoquant said bitcoin\u2019s realized P\/L ratio hit -0.35, its lowest reading since December 2022 after FTX fell. The signal flashed as Strategy sold 3,588 BTC for $216 million and bitcoin rebounded above $64,000 on July 7. Swan Bitcoin\u2019s Adam Livingston noted similar discounts preceded 41% six-month [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":75065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75064"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=75064"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/75065"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=75064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=75064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=75064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}