U.S. equity futures ticked higher after reports that the U.S. and Iran agreed to pause hostilities and resume negotiations.

Tom Lee: Crypto Selloff Driven by Positioning, Not Fundamentals

Thomas “Tom” Lee, chairman of Ethereum treasury firm Bitmine and a long-time bull on both equities and crypto, said last week’s downturn in digital assets was largely the result of portfolio rebalancing rather than any meaningful deterioration in fundamentals.

“With the June quarter-end approaching, ‘window dressing’ is likely prompting investors to reduce exposure to assets that have underperformed over the past three months,” Lee said in Bitmine’s weekly update.

Bitcoin and ether remain under pressure this quarter, down approximately 12% and 25%, respectively, and are trading just above their 2026 lows with only days left before Q3 begins.

Bitmine continued to buy during the dip, though at a slower pace. Last week’s $43 million ETH purchase marked its smallest allocation since early May.

SpaceX to Enter Nasdaq 100

Elon Musk’s newly public SpaceX (SPCX) is set to join the Nasdaq 100 Index before the market opens on July 7. Shares rose 1.9% in pre-market trading to $156.18.

Bitcoin Gains as Strategy Unveils New Plan

Bitcoin climbed from roughly $59,700 to above $60,400 on Monday after Strategy introduced sweeping changes to its capital strategy.

Executive Chairman Michael Saylor announced a “BTC Monetization Program,” enabling the company to sell bitcoin to build dollar reserves, fund dividends and interest payments, and repurchase shares. Sales for reserve-building are capped at $1.25 billion.

The firm also boosted its USD reserves to $2.55 billion—enough to cover about 17.4 months of dividends—and raised the STRC dividend rate by 50 basis points to 12%, effective July.

The measures come in response to recent stress around STRC, which dropped to a record low of $82.53 last week, well below its $100 par value, amid concerns over dividend coverage and liquidity.

Strategy Introduces New Capital Framework

To stabilize operations, Strategy rolled out a Digital Credit Capital Framework that includes:

• A formal USD reserve policy
• A revised STRC dividend structure
• A digital credit research initiative
• A share buyback program
• A bitcoin monetization strategy

The company also raised the STRC dividend to 12% from 11.5%. Shares of MSTR rose 7.5% pre-market, while STRC gained more than 9%, with bitcoin edging higher to around $60,500.

IREN Added to Russell 1000

AI infrastructure firm IREN climbed about 3% in pre-market trading after confirming its inclusion in the Russell 1000 Index, effective June 26.

On-Chain Data Signals Potential Selling Pressure

On-chain metrics are flashing caution as bitcoin trades near $58,800 following a week of losses.

CryptoQuant data shows repeated spikes in Spot Exchange Inflow Coin Days Destroyed (CDD) since late May, indicating that long-dormant coins are being moved to exchanges—often a precursor to selling.

Meanwhile, Derivatives Exchange Inflow CDD has declined, suggesting the selling pressure is coming from long-term holders rather than leveraged traders, a pattern typically associated with more sustained distribution.

Bitcoin Approaches Worst Month Since 2022

Bitcoin is down about 19% in June with just two U.S. trading sessions remaining, putting it on track for its weakest monthly performance since June 2022.

It is also set to close Q2 down roughly 12%, marking three consecutive quarterly declines—something not seen since 2022. However, the magnitude of losses has been easing compared to prior quarters.

Stocks Rise While Crypto Lags

U.S. equities moved higher in pre-market trading as renewed Middle East diplomacy improved risk sentiment, but cryptocurrencies have yet to follow.

Bitcoin hovered near $60,000, while the Nasdaq-100 tracking Invesco QQQ Trust gained around 1.2%. Gold held above $4,000 per ounce, Brent crude remained below $70, and the U.S. Dollar Index stayed firm above 101.

Crypto-related stocks such as IREN and Cipher Mining rose about 3%, while Strategy and STRC posted modest gains.

Bitcoin Holds Key Technical Level

Bitcoin recently tested the 61.8% Fibonacci retracement of its 2023–2025 rally—a critical support level often referred to as the “golden ratio.”

The level has so far held, with prices rebounding toward $60,000. A break below could trigger further selling, while continued support may attract buyers.

Crypto Muted Despite Easing Tensions

Despite reports of a ceasefire agreement and upcoming talks between the U.S. and Iran in Qatar, crypto markets have remained largely unmoved.

Bitcoin traded near $59,700, down slightly on the day and nearly 7% for the week. Ether and Solana saw modest gains, while XRP and dogecoin continued to weaken.

Equities responded positively to the geopolitical developments, but crypto has failed to follow, continuing a trend of fading relief rallies.

Key catalysts this week include the outcome of U.S.-Iran talks and upcoming U.S. inflation data, both of which could shape bitcoin’s next move.