Key Takeaways:
Bitcoin is decoupling from equities as Strategy's $225 million cash raise signals continued corporate accumulation.
Bitcoin rose 3.2% to $66,300 as of 07:00 UTC Tuesday, nearing $70,000 as Strategy's cash raise decoupled it from a tech stock selloff.
"Strategy's ability to raise $225 million in fiat while holding 843,775 BTC shows the market is pricing in continued accumulation, not a liquidation event," Nina Volkov, analyst at Edgen, said.
The enterprise software firm neither bought nor sold Bitcoin last week, instead increasing its fiat capital by $225 million to fortify its balance sheet. Its corporate treasury now stands at $3.2 billion alongside its 843,775 BTC hoard. Bitcoin futures open interest climbed to approximately $48.8 billion, while options open interest rose 2% to $32.6 billion, Coinglass data shows.
A daily close above $67,286 — the June 15 high — opens a clean path to $70,000, a level last seen June 2. Galaxy Digital CEO Mike Novogratz expects Bitcoin to consolidate between $60,000 and $80,000 for the remainder of the year, with a move toward $100,000 possible if regulatory clarity and macroeconomic tailwinds align.
Trader Josh Olszewicz identified two bullish setups on the 6-hour chart: an inverse head and shoulders pattern and a falling wedge breakout. The technical target sits between the 1.618 Fibonacci level at $72,669 and the 2.0 Fibonacci level at $76,698.
The $65,000 zone, which consistently attracted sellers on recent tests, is showing a weakening bearish response. Trader Jelle noted the area between $65,000 and $67,000 is resistance from the first-quarter range but "might not put up much of a fight" given how quickly price sliced through it on the way down.
US spot Bitcoin ETFs attracted $110.4 million in inflows Monday, following $76.2 million in net inflows the prior week, Glassnode data shows. The analytics firm said the aggregate investor base across spot Bitcoin ETFs has returned to breakeven after previously sitting at an unrealized loss.
This article is for informational purposes only and does not constitute investment advice.
