Tom Lee: Strategy's BTC sale, ETF outflows are typical bottom signals

Tom Lee, Chairman of Bitmine, told CoinDesk that the recent Bitcoin sale by Strategy and record outflows from spot Bitcoin ETFs are typical lagging indicators that appear when the market cycle is bottoming out. Strategy previously sold 32 BTC at an average price of $77,135, marking its first sale in four years. Lee dismissed the move, stating it was merely to raise funds for preferred stock dividend payments and was a pre-announced action. The sale represents just 0.004% of Strategy's total holdings of over 843,700 BTC.