Key Takeaways The short-term recovery remains intact but unfinished. Corporate Bitcoin strategies are becoming less uniform. Strategy’s sales are fueling bearish criticism. Trump Media is fav
BTC was trading around $64,200 on August 11, still above the support zone that has kept its late-June recovery intact. The immediate problem for buyers is $65,000, where recent attempts to extend the move have stalled.
Away from price, the corporate Bitcoin picture is becoming less uniform. Strategy has started selling small portions of its treasury, giving Peter Schiff fresh material for his argument that confidence in Bitcoin is weakening. Trump Media, meanwhile, has moved part of its bitcoin-linked exposure directly into BTC.
The support zone brings together the 50-day SMA near $63,330 on the daily chart, the 0.236 Fibonacci retracement around $63,650 and the lower boundary of Bitcoin’s short-term ascending channel.
Bitcoin is holding support near $65,000, but buyers have yet to clear the overhead resistance convincingly. Repeated tests have so far failed to produce a sustained breakdown, keeping the series of higher lows from the late-June bottom intact. There is still technical damage higher up, however. The 50-day SMA continues to slope downward, while the falling 100-day and 200-day averages remain overhead.
A decisive break through $65,000 would take Bitcoin out of the recent compression and bring the 0.382 Fib near $67,300 into focus.
If the support cluster gives way first, the ascending channel and the recent higher-low sequence would both come under threat.
Peter Schiff is reading Bitcoin’s recent weakness through its relationship with gold.
In an August 10 post, he argued that Bitcoin fell when gold initially broke out, recovered during gold’s correction and resumed declining once gold started rallying again. He called Bitcoin “anti-gold” and predicted that further strength in the metal would weigh on BTC.
When gold initially broke out, Bitcoin broke down. When gold corrected, that’s when Bitcoin bounced. Now that the gold correction is over, and gold is back in rally mode, Bitcoin has resumed its decline. Bitcoin is anti-gold. The more gold goes up, the more Bitcoin will go down.
— Peter Schiff (@PeterSchiff) August 10, 2026
The recent divergence gives Schiff material for that argument, but it does not establish a lasting inverse relationship between the two assets.
His second claim focused on Strategy.
In a separate post, Schiff pointed to Strategy’s recent Bitcoin sales and argued that the company was moving back toward dollars because lenders preferred fiat collateral.
Strategy’s transactions have certainly changed the conversation. After years dominated by accumulation, the company has now shown that Bitcoin can also be sold when management sees another use for the capital.
But one company’s treasury decisions are not enough to establish a broader corporate retreat.
READ MORE:
Bitcoin Is Stuck, but Something Underneath Is ChangingTrump Media & Technology Group made almost the opposite move in July.
According to its latest SEC filing, the company sold bitcoin-related equity securities worth about $159.6 million and used the proceeds to buy Bitcoin.
By July 31, Trump Media held approximately 14,139 BTC, including pledged coins, with a fair value of about $890.5 million based on a Bitcoin price of $62,982.
The important part is the change in exposure. Trump Media did not simply add another bitcoin-linked security. It sold indirect exposure and moved the proceeds into the underlying asset itself.
That does not mean the full $159.6 million represents completely new Bitcoin risk. It does show a preference for holding more of that exposure directly.
The political association makes the move unusually notable. Trump Media operates Truth Social and remains closely associated with current U.S. President Donald Trump.
Its treasury decisions are separate from White House policy. Still, it is a striking feature of the current market that a public company so closely tied to the sitting president holds more than 14,000 BTC while one of Bitcoin’s most prominent critics is arguing that corporate conviction is fading.
Strategy and Trump Media illustrate how much the corporate Bitcoin trade has changed.
Strategy is managing a massive treasury actively enough to sell small portions of it for other balance-sheet purposes. Trump Media has gone the other way with part of its exposure, replacing bitcoin-related securities with Bitcoin itself.
Neither move works well as proof that institutions are collectively buying or abandoning BTC.
What they show instead is a market in which corporate holders are starting to use Bitcoin differently depending on their own financing and treasury needs.
That makes Schiff’s broader conclusion difficult to draw from Strategy alone. Corporate Bitcoin exposure is no longer a simple accumulation story, but it is not disappearing either.
Bitcoin’s chart now sits in much the same place as that debate: support is still intact, but buyers have not yet done enough to settle the argument.
The post Bitcoin Bulls Fight to Keep the Recovery Alive at Key Support appeared first on Coindoo.
