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Bitcoin Falls 11.6% for the Week; Strategy Sells 32 BTC Amid Macro Headwinds

GateNews
Market AnalysisPrice VolatilityStocks
BTC-3.45%
According to QCP Capital, Bitcoin declined 11.6% during the week ending June 3, pressured by multiple factors. Strategy's rare sale of 32 BTC worth approximately $2.5 million broke market expectations of "no sales," though the position is negligible relative to its 840,000+ BTC holdings. Meanwhile, geopolitical tensions in the Middle East and stalled U.S.-Iran negotiations pushed oil prices higher, while stronger-than-expected U.S. job opening data reduced rate-cut expectations. Options market sentiment turned defensive, with 30-day ATM implied volatility rising to 41.4%, up 7 percentage points for the week. Risk Reversal indicators remain negative. QCP noted current weakness reflects repricing of downside risks rather than panic selling, with weak spot demand, rising oil prices, higher real rates, and macro uncertainty pressuring risk assets. BTC must stabilize above $67,000–$68,000 to avoid further selling pressure.
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