Bitcoin steady above $63,000 as its worst week in months got a late macro rescue
A tiny Strategy sale raised a bigger question about Saylor’s never-sell stance, while easing Iran fears and a strong SpaceX debut helped risk assets recover.
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Summary
- Bitcoin whipsawed from nearly $73,000 to below $60,000 before rebounding to about $63,500, briefly entering a valuation zone typically associated with bear-market bottoms without triggering a full capitulation sell-off.
- A small but symbolically important sale of 32 bitcoins by Michael Saylor’s Strategy, long identified with a “never sell” stance, rattled traders already uneasy about weak risk appetite and rising geopolitical and rate concerns.
- The recovery in bitcoin and other major cryptocurrencies followed easing Iran tensions, falling oil prices and a broader risk-on rally in stocks, but analysts say a durable turn higher still depends on stronger ETF inflows and renewed large-scale buying.
