Michael Saylor, CEO of MicroStrategy, attributed the recent 14% decline in Bitcoin's price to AI infrastructure spending absorbing capital. However, Arca's Chief Investment Officer Jeff Dorman refuted this claim, stating that the real cause was Strategy's sale of 32 BTC, which raised concerns about the company's liquidity and potential forced selling to cover preferred share dividends. The sale, worth approximately $2.5 million, highlighted fears that Strategy might need to liquidate more Bitcoin to meet its financial obligations. Dorman suggested that a more favorable scenario for the market would be if Saylor announced a significant capital raise through stock sales to stabilize the situation. Despite the selloff, Dorman noted a positive trend where Bitcoin's decline did not immediately affect the broader cryptocurrency market, indicating a growing sophistication among investors who are now evaluating digital assets based on individual risk factors. However, as the week progressed, the negative sentiment intensified, leading to a broader downturn across various crypto assets.