$BTC 6.22 Cryptocurrency Full Report｜MSTR Continues to Underperform, Linked to Bitcoin, Daily Range Bound, No Clear Trend

BTC current price 63,700 USD, up 0.88% in 24 hours, narrow range recovery from lows, repeatedly testing 62,000 support and 64,500 resistance; ETH 1692 USD slightly follows up, ETH/BTC ratio continues to weaken, funds concentrate on BTC for safe-haven, altcoins show severe divergence, most small coins lack rebound strength.
24-hour total liquidation of 286 million USD, balanced long and short liquidations, market sentiment remains cautious, fear and greed index stays in extreme fear zone.
Core Major News
MSTR’s decline drags down the market, increasing long-short divergence
MSTR stock price fluctuates at low levels, after continuous deep retracement for several days, market worries about the company’s high debt interest payments, expecting to sell BTC to repay debts, forming negative linkage suppressing Bitcoin’s rebound height; industry opinions are divided, Adam Back publicly supports bullish logic, believing market overreacts to MSTR’s coin selling risk, but short-term stock signals show no stabilization, BTC’s upward rebound space is limited.
Federal Reserve hawkish expectations continue to suppress liquidity
Federal funds rate futures show a 76% chance of rate hike in September, Deutsche Bank raises forecast, possibly two rate hikes totaling 50 basis points within the year, year-end rate at 4.1%; US bond yields rise, prolonged high interest rate cycle, lack of cash flow puts pressure on crypto asset valuations. BTC spot ETF has experienced six consecutive weeks of net outflows, totaling 6.35 billion USD over 30 days, hitting a new record, institutions continue to reduce holdings, only a few top funds slightly increase holdings, incremental capital is severely lacking.
Options expiration risk remains
On June 26, over 13 billion USD worth of BTC options expire, with call options heavily concentrated above 68,000, short-term resistance faces heavy shorting pressure, the market mainly engages in stock-to-stock battles, difficult to sustain a continuous upward trend.
Industry and macro hotspots
AI regulation easing: US relaxes stance on Anthropic, IPO obstacles decrease, boosting on-chain AI concept slightly; a16z data shows trading volume in prediction markets hits new highs;
Geopolitical tensions: US-Iran negotiations see no substantial breakthrough, Hormuz Strait risk premium repeatedly disturbs the market;
Global regulation tightening: G20 implements unified crypto regulation standards, strengthens anti-money laundering and cross-border capital controls; domestic virtual currency payment channels are continuously blocked, trading and speculation are strictly prohibited; EU plans to phase out platforms without MiCA licenses by July.
Market operation ideas
MSTR’s sharp decline links to Bitcoin’s weakness, daily chart enters range-bound consolidation, abandon directional predictions, rely on support and resistance levels for light long and short trades, strictly control futures positions and set stop-losses, wait for volume breakout above or below the range to switch market outlook accordingly.