Bitcoin has steadied on Tuesday, finding support as top corporate holder Strategy Inc. capitalized on a recent dip in prices, and as geopolitical tensions in the Middle East showed signs of cooling, providing much-needed relief to cryptocurrency markets. As of 11:17 UAE time, Bitcoin rose 0.34 percent to $63,279.29, following a significant 17 percent tumble last week during an extended sector-wide rout. The broader cryptocurrency market tracked gains seen in other risk assets following reports that Israel and Iran agreed to halt military strikes after a demand from U.S. President Donald Trump.
Expansion of corporate Bitcoin holdings
Strategy Inc. disclosed on Monday that it had purchased 1,550 Bitcoin for a total of $101 million, bringing its total stockpile to 845,256 coins. This acquisition—which was significantly larger than the company’s sale of 32 Bitcoin on June 1—aligns with the commitment from chairman Michael Saylor to continue increasing the company’s Bitcoin holdings. Despite this move, Strategy Inc. faces heightened debt and equity obligations associated with the capital raised to fund its massive Bitcoin accumulation, a dynamic that could necessitate future sales. Notably, the company’s sale of 32 Bitcoin last week, which was primarily used to fund dividend payments, served as a sell signal for the market, representing the firm’s first sale of holdings since late 2022.
Read more: Bitcoin drops over 7 percent to $62,453 amid 13 days of spot U.S. ETF outflows
Slowdown in spot Bitcoin ETF outflows
Institutional investors continued to sell spot Bitcoin exchange-traded funds (ETFs) this week, although the pace of these outflows has slowed compared to previous periods. On Monday, investors pulled $91.4 million from spot ETFs, a figure markedly smaller than the $325.7 million in outflows recorded on Friday. Despite this deceleration, Bitcoin ETFs are experiencing three consecutive weeks of outflows, having lost $1.7 billion last week, marking their worst performance since February 2025. Market sentiment toward crypto had been pressured by a confluence of factors, including risk aversion linked to the Gulf war, concerns over rising interest rates, and a shift in investor focus toward artificial intelligence equities.
Broad recovery across major cryptocurrency prices
While overall gains were limited by skittish investor sentiment, broader cryptocurrency prices rose on Tuesday. Ether, the world’s second-largest cryptocurrency, rose 1.03 percent to $1,686.48, while XRP increased by 2.81 percent to $1.17. Other major assets, including Solana, Cardano, and BNB, posted gains ranging between 1 percent and 5 percent. Within the memecoin category, Dogecoin rose 1.46 percent, and $TRUMP added 1.89 percent.
