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Bitcoin poised for turnaround as MSTR concerns ease

CoinDesk says BTC was trading around $63,223 as MSTR addressed dividend related sale worries and attention shifts back to bitcoin ETF flow signals.

Reported · Written up by our desk · Market Structure

CoinDesk’s weekly Crypto Long & Short newsletter argued that bitcoin is reaching a market bottom and is positioned for a turnaround, after concerns tied to MicroStrategy (MSTR) eased.

The outlet pointed to recent steps by MSTR to placate worries about potential BTC sales tied to dividend obligations, including shoring up its USD reserve and updating its capital allocation strategy.

CoinDesk also highlighted a broader macro backdrop, saying the money supply surpassed $23 trillion for the first time in May, with a month over month increase of more than 1% that it described as the highest since 2021.

Finally, the newsletter pointed to crypto market structure signals, noting that bitcoin ETFs saw $5.4 billion of outflows year to date through June 30 and framing that shift as something investors can watch as sentiment around MSTR moves from “hysteria” to “calm.”

Latest closeBitcoin $63,409.10 ▼0.7%

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