A wave of selling that began when Strategy offloaded bitcoin holdings triggered a broader market rout, wiping approximately $390 billion from total crypto market capitalisation — the steepest weekly decline since the collapse of FTX in November 2022. Bitcoin and ether were among the hardest-hit assets, with both tokens on course for significant weekly losses. The drawdown reflects renewed fragility in sentiment across digital asset markets, with leveraged positions likely amplifying the move downward. Strategy's bitcoin sale, which sparked the initial wave of concern, raised questions about whether other large holders might follow suit. The episode underscores how concentrated selling from institutional players can rapidly destabilise market conditions, even during periods of relatively stable macroeconomic news flow.
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