Bitcoin's price fell to $58,360 at the time of writing on June 30, down 2.99% on the day, dropping through a multi-day consolidation to retest the same zone that has marked the 2026 low since early June.
Strategy adopted a five-component Digital Credit Capital Framework that, for the first time, formally allows the company to sell Bitcoin under specific, board-controlled conditions.
Bitcoin is once again testing $60,000 as a historically large wave of coins moves onto exchanges and whale signals pull in two directions at once.
Two on-chain signals are flashing together: long-term coins that move are now changing hands at a loss, and the profit/loss ratio of spent coins sits at bear-market lows.
Public companies now hold more Bitcoin than at any point in history, and the more striking part is that some of them kept buying as the price fell.
Bitcoin's 53% drawdown is the mildest in its history, where past cycles fell 80% or more. Yet two other data points complicate that bullish read, and together the three resist a simple answer.
Hunter Horsley, CEO of Bitwise Asset Management, one of the largest crypto-focused asset managers, argues that fixating on the current levels misses the forest for the trees.
Macro investor Raoul Pal has a clear answer to the question hanging over the market: this isn't the end of the crypto cycle, it's the middle of it.
Two record-breaking data points are sitting side by side in Bitcoin's on-chain data right now, and together they describe an unusual market.
Bitcoin has dropped below $59,000 for the first time since September 2025, trading around $58,900 after a 3.7% fall over 24 hours.
Bitcoin and Ethereum are clawing back ground after a brutal session. BTC has bounced to $61,742 from a low of $59,010, and ETH sits at $1,652 after touching $1,550. The recovery is real, but it's happening against a backdrop of $1 billion in liquidations over 24 hours, one of the three largest liquidation events of the past 90 days.
Two of crypto's research desks are looking at the same Bitcoin chart and drawing different near-term conclusions.

