News of Strategy selling a portion of its Bitcoin holdings is putting pressure on the broader cryptocurrency market.

A filing submitted to the U.S. Securities and Exchange Commission revealed that the company sold 32 bitcoins last month.

In a recent report, Nic Puckrin from Coin Bureau noted that momentum this week is not favoring Bitcoin.

Puckrin stated that while stock markets continue to be buoyed by strength in artificial intelligence, this positive momentum has largely bypassed the cryptocurrency sector.

This suggests Bitcoin is being driven more by crypto-specific sentiment, which is currently near its lowest point.

He added that an upcoming IPO from SpaceX is unlikely to help reverse Bitcoin's downward trend.

Bitcoin fell 2.3% to $71,992.

Ether declined 1.1% to $1,983.

XRP dropped 2.3% to $1.30.

Solana decreased 1.7% to $80.52.