The agreement between the US and Iran has reduced the risk of global energy issues, yet Bitcoin remains below $66,000 due to concerns about potential sales by Strategy. This was stated by analysts at QCP Capital.
“The company might need to sell more Bitcoin to finance dividend payments, especially after repurchasing convertible bonds maturing in 2029 for $1.5 billion,” the report said.
As Strategy continues to issue shares and expand its growth potential, this optimism could eventually turn against the leading cryptocurrency, according to QCP. However, experts noted the stabilization of the macroeconomic situation, which benefits risky assets.
Concurrently, contributors from CryptoQuant — the COINDREAM team — noted that short-term holders remain calm. Currently, the SOPR indicator for this category of investors is close to 0.995, indicating minor losses.
The indicator remains above the “panic threshold,” which is at 0.95.
“The current structure indicates a fragile recovery phase rather than full capitulation. A return to level 1 will confirm improved short-term sentiment, while a drop below 0.95 will signal increased panic risk,” the analysts added.
While Bitcoin maintains relative stability, the sell pressure from altcoin holders has reached a five-year high, according to data from IT Tech researchers.
The cumulative difference between buy and sell volumes in the spot market for all cryptocurrencies excluding BTC and ETH has been in the negative zone for 15 consecutive months. The indicator nearly reached zero at the beginning of 2025 but then sharply reversed and has continued to decline since.
Earlier, 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.
