Happy Monday!

Bitcoin is starting the new week slow and even seasoned bulls are starting to become defensive: one veteran trader is now openly contemplating rotating into gold.

Strategy is back to selling, yes selling not buying, Bitcoin. Saylor’s company sold 3,588 BTC last week — what does it mean for MSTR?

Plus, save $1,000 on a full year of Benzinga Pro: real-time news, live audio squawk, scanners, smart alerts, and earnings calendar. Tomorrow it's full price.

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TOP STORY

'Contemplating Selling Some BTC, Going to Gold': Are Bitcoin Bulls Throwing In the Towel?

Bitcoin is facing a major narrative threat as veteran chartist Peter Brandt announced he is contemplating dumping his cryptocurrency to buy gold.

Brandt’s bearish rotation follows Bitcoin’s brutal 20% June slide — its worst monthly performance in four years.

The decade-long XAU/BTC chart has flattened and signals gold sellers are completely exhausted.

Michael Saylor insists the 28% year-to-date crypto plunge is just a temporary capital detour into an "AI black hole", but maybe a rotation into gold is the bigger threat to Bitcoin…

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MARKET MINUTES

BitMine continues buying ETH, even though MSTR continues selling BTC. What is driving the divergence?

Donald Trump made a nice profit from his TRUMP meme coin, even though he claims to know nothing about it. But this blockchain analytics report has the details.

Bitcoin, Ethereum, Solana are in for an interesting Q3. A new quarterly research report by Huobi shines some light on what’s coming for them.

FINTECH FOCUS

Michael Saylor's Strategy Sold 3,588 Bitcoin At A Loss: What Is Happening?

Strategy is trading around $100 after disclosing a massive sale of 3,588 Bitcoin (112 times larger than the June sale that crashed markets) at an average price of $60,000 to fund preferred dividend obligations.

The liquidation crystallized a $54 million realized loss against its $75,476 cost basis.

Peter Schiff warned that the business model has officially flipped in reverse to sell treasury assets to service debt.

The sale follows a brutal Q2 filing confirming a staggering $8.32 billion in quarterly digital asset losses.

Where does that leave MSTR?

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