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Bitcoin Holds Near $63,000 After Strategy Purchase; ETF Outflows Slow
On Tuesday, Bitcoin stabilised after the largest corporate holder of the cryptocurrency, Strategy, used the recent price decline to buy more, while tensions in the Middle East eased, bringing some relief to crypto markets.
Institutional investors continued to sell spot Bitcoin ETFs, although at a somewhat slower pace than in previous weeks.
Bitcoin rose 0.7% to $63,434.4 as of 06:25 GMT. The world’s largest cryptocurrency stabilised this week after falling more than 17% last week amid a broad and prolonged sell-off in the sector.
Crypto markets followed gains in risk assets after Israel and Iran agreed to stop striking each other at the request of US President Donald Trump.
Strategy Bought $100M Worth of Bitcoin After Last Week’s Sale
The largest corporate holder of Bitcoin, Strategy Inc (NASDAQ: MSTR), said on Monday that it had purchased 1,550 Bitcoin for a total of $101 million, bringing its total holdings to 845,256 coins.
The size of the purchase significantly exceeded the sale of 32 Bitcoin that took place on June 1 and aligns with Executive Chairman Michael Saylor’s pledge to buy more Bitcoin than the company sells.
Nevertheless, Strategy still faces elevated debt and equity obligations related to capital raised to finance large-scale Bitcoin purchases — a trend that could trigger further sales in the future. Last week, the company sold 32 Bitcoin mainly to fund dividend payments on a number of preferred shares.
Last week’s sale was one of several sell signals for Bitcoin, as it marked the company’s first disposal of its holdings since late 2022.
Bitcoin ETF Outflows Continue, but the Pace Is Slowing
Institutional investors continued to sell Bitcoin ETFs this week, though more slowly than in the previous three weeks.
On Monday, investors withdrew $91.4 million from spot ETFs — significantly less than the $325.7 million recorded on Friday.
Bitcoin ETFs have now posted three consecutive weeks of outflows: last week’s outflow reached a massive $1.7 billion, the worst figure since February 2025.
Negative sentiment towards cryptocurrencies has been shaped by a range of factors: risk aversion amid the war in the Persian Gulf, concerns over rising interest rates and a shift in investor interest towards artificial intelligence-related stocks.
Crypto Market Today: Altcoins Rise Alongside Bitcoin, but Gains Remain Limited
On Tuesday, cryptocurrency prices broadly increased, although overall gains remained limited amid continued investor caution.
Ether, the second-largest cryptocurrency by market capitalisation, rose 1.4% to $1,689.72, while XRP gained 2.7% to $1.1725.
Solana, Cardano and BNB rose in a range of 1% to 5%.
Among meme coins, Dogecoin rose 1.5%, while $TRUMP gained 2.2%.
See also: "The 100 Largest Bitcoin Wallets Now Hold 1.26M BTC"
