Bitcoin continues to trade below $66,000, ignoring positive macroeconomic news amid geopolitical détente. Analysts at Singapore-based QCP Capital believe that the main deterrent is investors' fears: the market fears that the largest corporate holder of BTC, Strategy’s Michael Sailor, may start selling Bitcoin in droves to pay dividends.

In early June, Strategy had already sold 32 BTC for $2.5 million. At the same time, the company bought up convertible bonds for $1.5 billion and raised $200 million from MSTR’s stock sale, channeling funds into a bitcoin buyout to form a dividend reserve (approximately 7.5 months). According to QCP Capital experts, it is these aggressive financial maneuvers and expectations of future sales that create uncertainty and add pressure on the exchange rate, suppressing the momentum.

Beyond the Strategy factor, the market continues to be constrained by US inflation risks and uncertainty in the AI segment. Making matters worse, the recent decision by the Federal Reserve to keep the base interest rate in the range of 3.5-3.75% has met a common negative for the crypto market.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.