Markets Turn Higher: Bitcoin Hits $65K as Strategy Strengthens Balance Sheet With Cash and Coins
An analyst said bitcoin remains range-bound as easing ETF outflows and improving risk sentiment are offset by a stronger dollar and cautious institutional positioning.
Bitcoin rebounds above $65,000 in early trade
Crypto markets opened the week on a firmer footing after last week’s volatility.
Bitcoin (BTC) and ether (ETH) both gained more than 2% over the past 24 hours, with BTC briefly topping $65,000 and ETH rising toward $1,770.
Crypto-linked equities also moved higher, with Coinbase (COIN) and Galaxy Digital (GLXY) each up around 4.3%, while Circle Financial (CRCL) advanced 4.8%.
Michael Saylor’s Strategy (MSTR) climbed 5.6%, while its preferred shares STRC rose 2.5% to $90.85, extending a rebound after briefly falling below $83 last week.
Strive acquires 759 BTC
Strive (ASST) reported the purchase of 759 bitcoin for just under $50 million at an average price of $65,850.
The purchase was funded through equity issuance and high-yield preferred stock, according to filings.
The company now holds 19,864 BTC worth roughly $1.29 billion at current prices.
Strategy adds BTC and boosts cash reserves
Strategy (MSTR) increased its cash position by $300 million to $1.4 billion while also buying 520 bitcoin for $35 million.
Its total holdings now stand at 847,363 BTC. The cash buffer—used to support dividends on its preferred “Digital Credit” securities—has expanded by $400 million over the past two weeks.
The company said it will continue balancing bitcoin purchases with cash accumulation, funded via equity issuance.
Robinhood raises $2 billion via notes
Robinhood (HOOD) plans to raise $2 billion through convertible senior notes due 2029, with an additional $200 million option.
Roughly $300 million will fund share buybacks, while the rest will go toward growth initiatives and hedging transactions aimed at limiting dilution.
Shares slipped about 2% in premarket trading.
Bank of England updates stablecoin framework
The Bank of England scrapped earlier plans to cap individual stablecoin holdings, replacing them with a temporary £40 billion issuance limit per systemic stablecoin.
It also eased reserve rules, allowing up to 70% of backing assets in short-term UK government debt. While interest on holdings remains banned, transaction-based rewards will be allowed. A full framework is expected by 2027.
$10.5B bitcoin options expiry approaches
Roughly $10.5 billion in bitcoin options are set to expire on Deribit this Friday, one of the largest expiries of the year.
BTC trades near $64,000, while max pain sits at $72,000. The put-call ratio of 0.83 signals slightly bullish positioning.
Key put interest is concentrated at $60,000, while call exposure is clustered near $80,000.
UK markets steady after leadership change
Markets reacted modestly to the resignation of UK Prime Minister Keir Starmer.
GBP/USD edged down 0.15% to $1.32, while 10-year gilt yields rose slightly to 4.85%, suggesting the move was largely priced in.
HYPE options bet targets $150
A large bullish options trade in HYPE is positioning for a potential move toward $150 by late 2026.
The trader used a bull call spread—buying $100 calls and selling $150 calls—across 50,000 contracts to capture upside while capping gains.
HYPE last traded near $67.
STRC rebounds as Saylor signals BTC buying
Strategy’s STRC preferred shares recovered toward $90 after last week’s drop to $82.53, while MSTR traded slightly higher in premarket activity.
Executive Chairman Michael Saylor hinted at further bitcoin purchases, posting: “Looks better with more dots.”
Bitcoin itself remained steady near $64,000.
Bitcoin remains stuck in range
Bitcoin continues to trade around $64,000 as it lacks a clear catalyst for a breakout.
ETF outflows have eased, but six consecutive weeks of net redemptions highlight continued institutional caution.
A stronger dollar and elevated yields continue to weigh on sentiment, with the Dollar Index near 100.7.
While geopolitical tensions have eased following the U.S.–Iran agreement, the support has not been enough to offset tighter financial conditions.
Analysts expect BTC to remain in a $60,000–$67,000 range in the near term unless ETF inflows and institutional demand return in a sustained way. For now, recent gains are seen as corrective rather than the start of a new uptrend.
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