Citi Highlights Lack of New Bitcoin Investors Over Strategy's Sale

Citi has emphasized that the absence of new bitcoin investors is a more significant issue than Strategy's recent bitcoin sale, according to CoinDesk. The sale, part of a tax-optimization plan, does not alter Strategy's long-term strategy. Analyst Alex Saunders noted that spot bitcoin ETF flows, which explain about 45% of weekly BTC price movements, have turned negative, indicating subdued investor sentiment. The bank also highlighted diminishing prospects for a U.S. crypto market structure bill, reducing potential catalysts for renewed investor interest.