U.S. equity futures moved higher following reports that Washington and Tehran had agreed to pause military actions and restart diplomatic negotiations.
Tom Lee Attributes Crypto Weakness to Quarter-End Positioning
Thomas “Tom” Lee, chairman of Ethereum treasury firm Bitmine and a well-known bull in both equities and crypto markets, said last week’s digital asset selloff was driven more by portfolio adjustments than by weakening fundamentals.
“As we approach the end of June, it’s typical to see ‘window dressing,’ where investors trim exposure to assets that have underperformed over the past quarter,” Lee said in Bitmine’s weekly treasury update.
Bitcoin and ether have both declined significantly in the second quarter, down roughly 12% and 25%, respectively, and are hovering just above their 2026 lows with only days remaining before Q3 begins.
Bitmine took advantage of lower prices by buying the dip, though its pace of accumulation has slowed over the month. The firm purchased $43 million worth of ETH last week, marking its smallest acquisition since early May.
SpaceX to Join Nasdaq 100
Elon Musk’s recently public SpaceX (SPCX) is set to be added to the Nasdaq 100 Index before markets open on July 7. Shares were up 1.9% in pre-market trading, reaching $156.18.
Bitcoin Climbs as Strategy Unveils New BTC Plan
Bitcoin rose from around $59,700 to above $60,400 on Monday afternoon after Strategy announced a major overhaul of its balance sheet strategy.
Executive Chairman Michael Saylor introduced a new “BTC Monetization Program,” which, for the first time, allows the company to sell bitcoin to build its U.S. dollar reserves, fund dividends and interest payments, and repurchase securities. Bitcoin sales for reserve-building are capped at $1.25 billion.
At the same time, Strategy increased its USD reserves to $2.55 billion—enough to cover approximately 17.4 months of dividend payments—and raised the STRC dividend rate by 50 basis points to 12%, effective July.
These measures directly address the recent STRC-related concerns. The preferred stock had fallen to a record low of $82.53 last week, well below its $100 par value, amid shrinking dividend coverage and concerns over cash reserves.
Strategy Introduces New Capital Framework
In response to recent market stress, Strategy also rolled out a Digital Credit Capital Framework, which includes five key components:
- A board-approved USD reserve policy
- A revised STRC dividend structure
- A digital credit securities research initiative
- A common stock buyback program
- A bitcoin monetization strategy
Additionally, the company raised the annual dividend on STRC to 12% from 11.5%. Shares of MSTR rose 7.5% pre-market, while STRC gained over 9%, and bitcoin edged higher to around $60,500.
IREN Joins Russell 1000
AI infrastructure firm IREN saw its shares climb roughly 3% in pre-market trading after announcing its inclusion in the Russell 1000 Index, effective June 26 following FTSE Russell’s annual reconstitution. The index tracks about 1,000 of the largest U.S. companies and is widely used as a benchmark for large-cap investors.
On-Chain Signals Suggest Potential Selling Pressure
On-chain data is flashing caution signals for bitcoin, which is trading near $58,800 after a week of steady losses.
CryptoQuant data shows sustained spikes in the Spot Exchange Inflow Coin Days Destroyed (CDD) metric since late May. This indicator tracks older, long-dormant coins being moved to exchanges—often a precursor to selling.
Meanwhile, the Derivatives Exchange Inflow CDD has been declining, suggesting that the selling pressure is coming from long-term holders rather than short-term leveraged traders. Historically, this type of distribution tends to be more deliberate and prolonged.
Similar spikes in spot CDD have preceded notable declines in past cycles, including in early 2025 and mid-2024, though not always.
Bitcoin Heads Toward Worst Month Since 2022
Bitcoin is down about 19% in June, with only two U.S. trading sessions remaining, putting it on track for its worst monthly performance since June 2022, when it dropped 37%.
The asset is also set to close the second quarter down roughly 12%, marking three consecutive quarters of losses—something not seen since 2022.
However, the pace of declines appears to be easing. Bitcoin fell 23% in Q4 2025 and 22.2% in Q1 2026, compared to around 12% so far in Q2, suggesting selling momentum may be weakening.
Stocks Rise While Crypto Lags
U.S. stocks moved higher in pre-market trading as renewed Middle East peace talks boosted investor sentiment, though cryptocurrencies have yet to follow suit.
Bitcoin hovered near $60,000, while the Nasdaq-100 tracking Invesco QQQ Trust rose about 1.2%. Gold remained above $4,000 per ounce, and Brent crude stayed below $70. The U.S. Dollar Index held firm above 101.
Crypto-related equities such as IREN and Cipher Mining gained around 3%, while Strategy shares rose about 1% and STRC climbed 2%, as investors awaited further announcements.
Bitcoin Tests Key Technical Level
Bitcoin recently approached a crucial technical level—the 61.8% Fibonacci retracement of its 2023–2025 bull run, often referred to as the “golden ratio.”
This level is widely watched in technical analysis and frequently acts as a support zone. A decisive break below it could trigger further selling, while holding above it may attract buyers.
So far, the level has held, with bitcoin rebounding toward the $60,000 mark.
Crypto Lags Despite Geopolitical Relief
Despite easing tensions between the U.S. and Iran—reportedly including a halt to strikes and upcoming talks in Qatar—crypto markets have remained subdued.
Bitcoin traded around $59,700, slightly lower on the day and down nearly 7% for the week. Ether and Solana posted modest gains, while XRP and dogecoin continued to decline.
Equity futures rose following the news, but crypto failed to react, continuing a pattern seen over the past two weeks. Previous geopolitical relief rallies have faded quickly, leaving traders cautious.
The key catalysts this week will be the outcome of U.S.-Iran discussions and upcoming U.S. inflation data. Both may be needed to shift sentiment and drive a meaningful move in bitcoin.
