Bitcoin Bounces Above $63,000 After Strategy Sell-off Fades

The price of bitcoin (BTC) has reversed sizable early Monday losses, returning to $63,400 around the noon hour on the East Coast. Bitcoin had rallied over the weekend to nearly $64,000, but lost all those gains and more after Strategy (MSTR) reported the sale of more than 3,000 BTC last week. Buyers returned mid-morning, though, perhaps buoyed by the idea that Strategy may not have to sell a lot more of its stack, or maybe an offhand comment by President Trump that bitcoin might be a worthy addition to Trump Accounts.

Bitcoin has fallen about $1,000 on the initial news to $61,900 earlier in the session, but the rapid recovery suggested that the market had already priced in the possibility of larger sales from the corporate bitcoin holder. The company disclosed the sale of 3,588 BTC for $216 million last week, a dramatic step up from its initial sale of just 32 bitcoin several weeks ago. That earlier sale had sparked a panic-driven plunge that took BTC from $74,000 to $60,000 in a few days.

Executive Chairman Michael Saylor had previously suggested it might be a good idea to inoculate the market over the company's intention to possibly fund dividend payments with occasional bitcoin sales. Markets, however, are responding differently to last week's sale. After a brief dip as the headline hit, bitcoin returned to very close to its weekend highs, up 1.7% over the past 24 hours.

Online Experts Weigh In on Strategy's Bitcoin Sales

Strategy now has a completely different business model, wrote Peter Schiff, a longtime no-coiner and critic of Michael Saylor and his company. Instead of selling common and preferred stock and issuing debt to buy bitcoin, the new strategy is to sell bitcoin to pay interest and dividends, pay off debt, buy back shares it sold, and hope that bitcoin's price goes way up.

You guys who believed selling 32 BTC caused sell-off three weeks ago have some reflecting to do, said Grant Cardone. Everyone was worried about Saylor getting liquidated, wrote Jeff Sekinger. Well this is it. This is what it looks like. They will sell chunks of BTC at a loss to fund their credit products that aren't backed by cash flow. So if BTC doesn't appreciate, they will continue selling at a loss.

I'm on board with the firm moving in this direction, wrote Josh Mandell. When the usual approach to funding dividends is just selling more shares of common stock, opting to sell a small amount of bitcoin instead essentially behaves like a buyback of the common.

Strategy CEO Phong Le stated that the company is evolving from one-way capital issuance to active capital management. Meanwhile, Strategy disclosed an $8.32 billion loss on digital assets during the three months ended June 30, as bitcoin started the second quarter at around $68,000 and ended at roughly $60,000.

SpaceX Coming to Nasdaq 100 at Very Low Weighting

Funds tracking the Nasdaq 100 — including Invesco's mammoth QQQ, with nearly $500 billion in AUM — will be buyers of SpaceX (SPCX) shares at Monday's closing price as Elon Musk's company gets added to that influential index Tuesday morning. That may not produce the buying pressure one might imagine, though. The company sold less than 5% of its shares in its IPO last month. Combined with lockup rules preventing employees from unloading stock, it means only a small fraction of SPCX shares are actually publicly floating.

Nasdaq adjusts index weighting by free float, meaning SpaceX will be weighted as closer to a $300 billion company, rather than its current $2 trillion valuation. That means an initial index weight of less than 1% in the Nasdaq 100, limiting the immediate impact from passive inflows.

Data Center Names Bounce from Last Week's Drubbing

TeraWulf (WULF) inked a 20-year lease with AI giant Anthropic for its Kentucky data center. The lease is expected to be worth about $19 billion over the initial term. WULF shares are higher by 13% in Monday morning trading, leading a sector rebound after sharp declines last week. The group plunged alongside large reversals in other popular AI-related trades, such as semiconductor and memory chip stocks.

IREN (IREN) on Monday is up 13%, while Hut 8 (HUT) is ahead 10.5%. Cipher Mining (CIFR) is gaining 9.5%, while Keel Infrastructure (KEEL) and Bitdeer (BTDR) rise 8%. Anthropic has signed a 20-year lease for a 400 megawatt AI data center developed by TeraWulf in Kentucky, with first power expected in the second half of 2027. The agreement is projected to generate about $19 billion in revenue. TeraWulf, originally a bitcoin mining company, has pivoted to building AI-focused data center infrastructure.

Trump Teases Bitcoin in Trump Accounts

Something could happen, said President Trump minutes ago, responding to a question about whether Trump accounts could include bitcoin. I'm a big fan of crypto. Bitcoin bulls will be forgiven for not holding their breath. Bitcoin was holding at the $62,000 level following the comments, down from more than $100,000 when the president took office in January 2025. Excitement then centered on the imminent announcement of a Strategic Bitcoin Reserve and a friendlier regulatory environment. While there have been some industry wins on the regulatory front, there's been little movement on the SBR, and Trump has mostly delivered on enriching himself, recently reporting more than $1 billion in profit from various crypto ventures in 2025.

American Bitcoin Grows Treasury to 8,000 BTC

American Bitcoin (ABTC), a bitcoin mining and treasury company, added another 500 BTC to push its total holdings to 8,000 BTC. That now ranks the company as the 16th largest publicly traded holder of Bitcoin. Eric Trump serves as Chief Strategy Officer. Despite increasing its Bitcoin reserves, ABTC shares are still down around 70% year to date. The company recently completed a 1 for 15 reverse stock split to maintain its Nasdaq listing, reducing the number of outstanding shares without changing the value of the business or its Bitcoin holdings.

Tom Lee's Bitmine Adds More Ether

BitMine (BMNR) added 42,197 ETH tokens last week for about $74 million. The company now holds roughly 5.74 million ETH, or 4.8% of the total supply of the token. ETH is lower by 1.5% over the past 24 hours at $1,740.

Morgan Stanley, JPMorgan Split on Chip Stocks

Morgan Stanley analysts cautioned that U.S. stocks may struggle to reach fresh highs as investors rotate out of semiconductor shares and into hyperscalers such as Microsoft (MSFT), Amazon (AMZN) and Meta (META). The bank said momentum in chip stocks is fading and maintained a year-end S&P 500 target of 8,000. JPMorgan analysts, on the other hand, argued that the recent semiconductor pullback is a buying opportunity and that the AI-driven chip cycle remains strong, with meaningful new supply unlikely before 2028, and continued to favor chipmakers over hyperscalers.

Indexes tracking semiconductor stocks and hyperscalers have retreated from recent highs as investors question rich valuations and reassess the outlook for AI-related trades. It's possible this led to some capital flows into the floundering crypto market, where bitcoin last week bounced nearly 10% from lows of about $58,000. After nearly touching $64,000 over the weekend, bitcoin has pulled back Monday morning to $61,500.

SK Hynix to Debut on Nasdaq Amid AI Boom

SK Hynix (000600) is set for one of the largest IPOs of 2026, with bookbuilding scheduled for July 6-9, pricing on July 9 and Nasdaq trading set for July 10, according to the offering summary. The memory-chip maker plans a reference price of $158.14, implying a reference market capitalization of about $1.16 trillion. Proceeds will be used to fund capital expenditures and the purchase of extreme ultraviolet (EUV) scanners, reinforcing its leadership in AI memory chips. SK Hynix shares in Korea have surged 260% this year, driven by booming demand for AI infrastructure and high bandwidth memory (HBM). The flow of capital into major AI companies and stock offerings will continue to attract investment away from other risk assets, such as bitcoin, which has struggled this year, and is down 50% from its October all-time high.

Nine Months Since Bitcoin's All Time High

Exactly nine months ago, on Oct. 6, Bitcoin reached its all time high of around $126,000. It now trades near $62,500, a roughly 50 percent correction, after falling as low as $57,800. If the four year cycle continues to hold, a historical pattern in which Bitcoin has tended to move through approximately four year periods of bull markets, bear markets, and recoveries, then the cycle bottom may still be months away, potentially around October.

Lighter Token Surges on Bullish Tokenomics Update

LIT, the native token of decentralized perpetuals platform Lighter, has rallied by 13% to $2.50 in 24 hours. That makes it the best performing top 100 cryptocurrency by market value. The token has gained 31% since Lighter unveiled a tokenomics update on June 30. The update centers on two main adjustments: Repurchased tokens that are acquired through ongoing exchange revenue will now face permanent burns, directly shrinking supply over time. Burns may be executed using undistributed LIT rather than the exact repurchased tokens. This is economically equivalent for LIT holders and allows Lighter to manage treasury operations efficiently and avoid unnecessary costs. Additionally, staking rewards have transitioned away from temporary bootstrapping funds and will instead draw from Lighter's remaining ecosystem allocation, with the protocol aiming for an initial 6% annualized yield.

Bitcoin Clawed Back Above $63,000 on Soft Jobs Data

Bitcoin touched $63,882 overnight before retreating to around $62,900, per CoinDesk data. The 24-hour high of $63,900 held briefly before sellers pushed it back down. Thursday's U.S. jobs report came in weaker than expected, giving liquidity-sensitive assets a lift heading into the weekend. A weakening jobs market makes a Fed hike less likely and gradually shifts the backdrop that pushed ETF investors out of bitcoin through June. That process takes time, and one print does not flip the setup. The July 14 CPI release is the next data point that could either extend the relief or further cap an early-July rally.

Source: Coindesk News