An agreement between the U.S. and Iran has reduced risks in the global energy sector; however, Bitcoin remains below $66,000 due to concerns over potential sell-offs by Strategy. This was stated by analysts from QCP Capital.
"Companies may need to sell more Bitcoins to fund dividend payments, especially after repurchasing $1.5 billion in convertible bonds maturing in 2029," the report noted.
As Strategy continues to issue shares and expand its growth potential, this optimism could ultimately backfire on the leading cryptocurrency, according to QCP. Nevertheless, experts pointed out a stabilization in the macroeconomic situation, which benefits risk assets.
Meanwhile, contributors from CryptoQuant—specifically the COINDREAM team—noted that short-term holders are remaining calm. Currently, the SOPR indicator for this group of investors is close to 0.995, indicating minor losses.
Source: CryptoQuant/COINDREAM.This indicator remains above the "panic threshold," which is set at 0.95.
"The current structure indicates a fragile recovery phase rather than full capitulation. A return to the level of 1 would confirm improved short-term sentiment, while a drop below 0.95 would signal an increased risk of panic," analysts added.
While Bitcoin maintains relative stability, selling pressure from altcoins has reached a five-year high, as reported by IT Tech researchers.
Source: CryptoQuant/IT Tech.The cumulative difference between buying and selling volumes across all cryptocurrencies, excluding BTC and ETH, has been in negative territory for 15 consecutive months. The indicator nearly closed at zero in early 2025 but then sharply reversed and has been declining ever since.
On June 15, Bitwise CIO Matt Hougan urged long-term investors to focus less on finding the bottom and more on the next Bitcoin bull cycle.