BTC rose 2% to $64,400, clearing resistance from earlier in the week and opening a path toward the June 15 high of $67,250. Crypto broadly outperformed traditional markets, with the S&P 500 and Nasdaq 100 futures both slipping as bitcoin's implied volatility hit its lowest since June 6.
CoinDesk
Michael Saylor's Strategy sold 3,588 BTC between June 29 and July 5 to cover preferred-stock distributions and rebuild its cash reserve to $2.55B, an unusual move for a company built around never selling. Its remaining 843,775 BTC were bought at an average $74,476 each, well above the current price.
why it mattersThe largest corporate bitcoin holder tapping its stack for cash, even in a small amount, is a signal worth watching given how leveraged its position is.
The Block
Bitwise strategist Juan Leon said institutional investors are now debating entry points rather than whether crypto survives, framing the current 50%-drawdown bear market — bitcoin's mildest on record — as driven by macro headwinds like AI capital competition rather than weakening fundamentals.
The Block