Bitcoin Rebounds Over $60K as Saylor’s Firm Counters Bearish Sentiment

U.S. equity futures advanced after reports that the U.S. and Iran agreed to pause military action and resume diplomatic discussions.

Tom Lee: Crypto Slide Driven by Rebalancing

Thomas “Tom” Lee, chairman of Ethereum treasury firm Bitmine and a noted market bull, said last week’s crypto downturn was primarily the result of quarter-end portfolio adjustments rather than weakening fundamentals.

“As we approach the end of June, ‘window dressing’ is likely prompting investors to scale back exposure to assets that have underperformed over the past quarter,” Lee said in Bitmine’s weekly update.

Bitcoin and ether remain under pressure this quarter, down roughly 12% and 25%, respectively, and are trading just above their 2026 lows with only a few days left before Q3.

Bitmine continued to buy the dip, though at a slower pace. Its latest ETH purchase totaled $43 million, the smallest since early May.

SpaceX to Be Added to Nasdaq 100

Elon Musk’s recently listed SpaceX (SPCX) will join the Nasdaq 100 Index ahead of the July 7 open. Shares rose 1.9% in pre-market trading to $156.18.

Bitcoin Gains After Strategy Revamp

Bitcoin rose from about $59,700 to above $60,400 on Monday following Strategy’s announcement of a major overhaul to its capital management approach.

Executive Chairman Michael Saylor introduced a “BTC Monetization Program,” allowing the firm to sell bitcoin to build dollar reserves, fund dividends and interest payments, and repurchase shares. Sales for reserve-building are capped at $1.25 billion.

Strategy also increased its USD reserves to $2.55 billion—covering roughly 17.4 months of dividends—and raised the STRC dividend rate by 50 basis points to 12%, effective July.

These actions are aimed at stabilizing STRC, which dropped to a record low of $82.53 last week, well below its $100 par value, amid concerns over dividend coverage and liquidity.

New Capital Strategy Unveiled

The company also introduced a Digital Credit Capital Framework, which includes:

• A formal USD reserve policy
• A revised STRC dividend structure
• A digital credit research initiative
• A share buyback program
• A bitcoin monetization strategy

Additionally, Strategy raised the STRC dividend to 12% from 11.5%. Shares of MSTR climbed 7.5% pre-market, while STRC gained more than 9%, with bitcoin trading near $60,500.

IREN Added to Russell 1000

AI infrastructure firm IREN rose about 3% in pre-market trading after confirming its inclusion in the Russell 1000 Index, effective June 26.

On-Chain Data Points to Selling Pressure

On-chain metrics are signaling caution as bitcoin trades near $58,800 following a week of losses.

Data from CryptoQuant shows persistent spikes in Spot Exchange Inflow Coin Days Destroyed (CDD), indicating that long-dormant coins are being moved to exchanges—often a precursor to selling.

At the same time, Derivatives Exchange Inflow CDD has declined, suggesting that long-term holders—not leveraged traders—are driving the selling, a pattern typically associated with prolonged distribution.

Bitcoin Eyes Worst Month Since 2022

Bitcoin is down roughly 19% in June, putting it on track for its weakest monthly performance since June 2022. It is also set to close Q2 down about 12%, marking three consecutive quarterly losses.

However, the pace of declines has slowed compared to previous quarters, indicating that selling momentum may be easing.

Stocks Climb While Crypto Lags

U.S. equities rose in pre-market trading as easing geopolitical tensions boosted sentiment, though cryptocurrencies have yet to follow.

Bitcoin hovered near $60,000, while the Nasdaq-100 tracking Invesco QQQ Trust gained around 1.2%. Gold held above $4,000 per ounce, Brent crude traded below $70, and the U.S. Dollar Index remained above 101.

Crypto-linked stocks such as IREN and Cipher Mining advanced about 3%, while Strategy posted modest gains.

Bitcoin Holds Critical Support

Bitcoin recently tested the 61.8% Fibonacci retracement of its 2023–2025 rally—a key technical level known as the “golden ratio.”

The level has so far held, with prices rebounding toward $60,000. A break below could accelerate selling, while continued support may attract buyers.

Muted Crypto Reaction to Geopolitical Relief

Despite reports that the U.S. and Iran have agreed to halt strikes and resume talks in Qatar, crypto markets have remained subdued.

Bitcoin traded near $59,700, down slightly on the day and nearly 7% for the week. Ether and Solana saw modest gains, while XRP and dogecoin continued to weaken.

While equities reacted positively to the developments, crypto markets showed little response, continuing a pattern of fading relief rallies.

Attention now turns to the outcome of U.S.-Iran negotiations and upcoming U.S. inflation data, both of which could shape bitcoin’s next move.