Bitcoin price sets $64.5K week-to-date low as Strategy selling worries return
Bitcoin rebounded from weekly lows near $64,500 but remained under pressure as corporate selling concerns returned. BTC has struggled to break above $66,000 even as broader markets rise. QCP Capital said the main overhang is fear that Strategy may need to sell more Bitcoin to fund dividend obligations after buying back $1.5 billion of its 2029 convertible notes; it already sold 32 BTC in May and is extending liquidity through share issuance. Attention also centered on the Federal Reserve meeting, where new chair Kevin Warsh faces pressure to balance inflation against calls for rate cuts. Markets expected no immediate rate cut, and some traders are now pricing in the possibility of a rate hike later this year, which would likely weigh on Bitcoin and other risk assets.
