- Bitcoin price recovers the $62,000 level as easing tensions between Israel and Iran improved risk appetite in broader markets.
- On-chain data shows Michael Saylor’s Strategy bought another 1,550 BTC ($101.3M) and Vivek Ramaswamy’s Strive bought 32 BTC ($2M).
- The Crypto Fear and Greed Index at 8% indicates extreme fear from broader market sentiment.
Bitcoin, the original cryptocurrency, is up 0.3% during the opening bell of U.S. market hours on Monday. Initially, the uptick followed yesterday’s momentum amid the de-escalation signals in the Middle East. However, the buying pressure accelerated today as on-chain data revealed that Strategy bought another 1,550 BTC (worth approximately $101.3 million) last week. The move slightly uplifted the market sentiment, but the broader trend is strongly bearish.
Strategy Buys $101M BTC Amid Bitcoin Rebound
The crypto market witnessed an intense sell-off last week, where the Bitcoin price dropped from $74,000 to $59,100. The initial selling pressure was fueled by a long streak of spot BTC outflow, re-escalated geopolitical tension, and institutional selling, including Strategy.
However, BTC rebounded roughly 5% to $63,500 in the last 48-hours as the earlier bearish narrative reversed.
Earlier today, Israel suspended strikes on Iran following a direct request from Donald Trump, with Tehran reciprocating — triggering a broad risk-on move across markets. Nasdaq 100 futures rose 1.5%, reversing sentiment that had deteriorated sharply over the prior two sessions.
Equities and altcoins continued to rally as investors took a breather from risk premiums put on by escalation fears.
In addition, Strategy added 1,550 BTC at $65,332 last week, spending $101.3 million to bring its total holdings to 845,256 BTC. The transaction comes on the heels of an unusual sale of 32 BTC by the firm in late May, its first recorded disposal sale in an extended accumulation run. This new purchase is more than 48 times the amount of the sold position. Overall, the portfolio is held at an average price of $75,680 per coin, worth about $10.85 billion unrealized at today’s levels, or about 17% underwater. The total value of holdings is worth $53.12 billion.
Vivek Ramaswamy’s asset management company, Strive, separately bought 32 BTC for some $2 million.
However, the Bitcoin price continues to face a wall of institutional selling pressure. Last week, the U.S.-based spot BTC ETFs posted $1.72 billion in net outflows— the second-largest weekly outflow since launch. Combined with BlackRock’s $226.8M BTC deposit to Coinbase Prime reported earlier today, this indicates that the institutional distribution is accelerating and not stabilizing.
Furthermore, the broader crypto fear and greed index has plunged to 8, down from last week’s 24, accentuating the negative market sentiment.
If the trend continues, the Bitcoin price could struggle to build sufficient bullish momentum.
Bitcoin Price Triggers a Bear Trap at $60,000 Support
Amid last week’s sell-off, the Bitcoin price plunged to a low of $59,100. This pullback attempted a bearish breakdown from the February 2026 bottom of $60,000 and a long-coming support trendline as shown in the chart below.
However, the BTC price rebounded immediately and regained its support above the $60,000. The failed breakdown likely trapped the hasty sellers, and their liquidation may boost further buying pressure.
With the momentum indicator RSI at 29%, the Bitcoin price could witness an initial rebound to the $70,500 resistance. However, the price trajectory will likely shift sideways for a short consolidation to regain its bullish momentum before the next leap. The immediate overhead resistance lies at $74,726, followed by $82,912.
On the contrary, the daily exponential moving averages are aligned at (20<50<100<200), signaling the path to least resistance is down. If the Middle East escalated again and spot BTC ETFs continued their outflow, the Bitcoin price could extend its correction to nearby support of $53,500, followed by $49,850.
