TL;DR
- Trump Media reportedly sold another 2,628 BTC valued at approximately $165.07 million.
- The company has allegedly sold 7,281 BTC over the past seven months while remaining significantly underwater on its holdings.
- Bitcoin continues to trade below a key resistance zone near $63,600, according to the attached chart.
- Analysts are watching for either a relief rally into resistance or another leg lower if bearish momentum persists.
Trump Media has reportedly reduced its Bitcoin exposure once again, selling another 2,628 BTC worth roughly $165.07 million, according to on-chain data shared by market trackers.
The latest sale brings the company’s reported Bitcoin disposals over the past seven months to 7,281 BTC, which were allegedly sold for approximately $545 million at an average price of $74,855 per coin.
According to the shared figures, Trump Media initially accumulated 11,542 BTC valued at around $1.37 billion at an average acquisition price of $118,522. Despite the recent sales, the firm’s remaining Bitcoin position is still reportedly showing an unrealized loss of approximately $555 million.
While the transactions have attracted attention across the crypto market, traders remain focused on whether the selling activity could influence broader market sentiment as Bitcoin continues to consolidate below key technical resistance.
Bitcoin Struggles Below Resistance
The attached one-hour TradingView chart shows Bitcoin trading around $62,900 after failing to reclaim higher price levels during recent sessions.
Price action has formed a sequence of lower highs following a sharp rejection near $64,400, suggesting sellers continue to dominate short-term momentum.
A technical analyst accompanying the chart noted they are “still waiting on that scam pump to get in on a short,” indicating expectations for a temporary rebound toward resistance before another potential decline. While this reflects one trader’s market outlook rather than a confirmed forecast, the chart highlights the levels many market participants are monitoring.
Chart Analysis Points to Key Levels
The chart identifies an important resistance zone around $63,600, where previous support has now turned into resistance following Bitcoin’s latest breakdown.
A projected path on the chart suggests a possible recovery toward this resistance area before another decline toward the $61,200 support region.
Several technical observations stand out. We see the resistance remains intact. Bitcoin has yet to reclaim the $63,600 level, keeping short-term momentum tilted toward sellers. We also see consecutive failed recovery attempts indicate buyers have struggled to regain control. Support is near $61,200. The chart highlights this area as the next major downside level if current support fails. A move back toward resistance cannot be ruled out before any continuation lower, particularly if short sellers wait for improved entry levels.
Although the projected path is speculative, it reflects a common trading strategy of waiting for price to retest broken resistance before initiating bearish positions.
Institutional Selling on Bitcoin Continues to Draw Attention
Large Bitcoin transactions from corporations, institutions, and governments frequently attract market attention because of their potential impact on liquidity and investor sentiment.
Recent months have seen several high-profile entities rebalance their Bitcoin holdings through public sales, treasury adjustments or strategic portfolio management. While such transactions do not always translate into immediate market declines, they often increase uncertainty, particularly when they involve thousands of Bitcoin changing hands.
Despite the reported Trump Media sales, Bitcoin continues to trade within a broader consolidation range, with traders watching macroeconomic developments, ETF flows and derivatives positioning for clues about the next directional move.
For now, the technical picture remains cautious. Unless buyers can reclaim resistance around $63,600, bears may continue targeting lower support levels in the sessions ahead.
