Analysts point out the reasons for Bitcoin consolidation - ForkLog

# Analysts Point to Reasons for Bitcoin Consolidation

The agreement between the US and Iran has reduced risks of problems in the global energy sector, but Bitcoin still remains below $66,000 due to concerns over potential sales by Strategy. This was stated by QCP Capital analysts.

"Companies may need to sell more Bitcoin to fund dividend payments, especially after repurchasing convertible bonds maturing in 2029 worth $1.5 billion," — the report says

As Strategy continues to issue shares and increase its growth potential, this optimism could ultimately turn against the first cryptocurrency, according to QCP. Nevertheless, experts noted a stabilization of the macroeconomic situation, which favors risk assets.

Meanwhile, contributors from CryptoQuant — the COINDREAM team — noted that short-term holders are remaining calm. Currently, the SOPR indicator for this category of investors is close to 0.995, signaling minimal losses.

Source: CryptoQuant/COINDREAM. The indicator remains above the "panic threshold," which is at 0.95.

"The current structure indicates a fragile recovery phase, not full capitulation. Returning to the level of 1 will confirm an improvement in short-term sentiment, while falling below 0.95 will signal increasing panic risk," — analysts added

While Bitcoin maintains relative stability, selling pressure from altcoins has reached a five-year high, according to data from IT Tech researchers.

Source: CryptoQuant/IT Tech. The cumulative difference between buy and sell volumes across all cryptocurrencies excluding BTC and ETH has been in negative territory for 15 months straight. The indicator nearly hit zero at the beginning of 2025 but then sharply reversed and has not stopped declining since.

Recall that on June 15, Bitwise CIO Matt Hougan urged long-term investors to focus less on finding the bottom and to look toward the next Bitcoin bull cycle.