Miss_1903

#BTCProbes60KKeySupportLevel
Bitcoin holds above $60,000; Strategy’s financing model under scrutiny
Bitcoin continued to hold above the $60,000 level on Saturday. Broader cryptocurrency markets maintained their upward momentum as investors weighed growing concerns regarding Strategy’s Bitcoin accumulation strategy ahead of a critical dividend reset.
Bitcoin was trading at $60,348.40, up 0.73%, maintaining its position above the psychologically significant $60,000 mark. Market attention is largely focused on June 30, the date when Strategy’s STRC perpetual preferred shares will trade ex-dividend and undergo a monthly dividend rate reset.
Investors holding the shares prior to the ex-dividend date will receive an initial semi-monthly dividend payment of $0.48 per share on July 15.
The dividend reset is viewed as a particularly significant development. STRC is currently trading around $73—approximately 27% below its $100 par value—pushing the effective yield to around 15%. Some investors anticipate that Strategy will raise the dividend rate from its current 11.5% level to better reflect market pricing.
Weakness in STRC has reignited debate over Strategy’s capital-raising model. In an interview, Brad Garlinghouse stated that he remains optimistic about Bitcoin but argued that the company's reliance on issuing preferred shares to fund additional Bitcoin purchases has negatively impacted the broader cryptocurrency market.
Garlinghouse characterized this approach as financial engineering rather than long-term value creation and cited the drop in STRC below its par value as evidence of waning investor confidence in the financing model. He emphasized that his criticisms were directed at the financing strategy, not at Bitcoin itself.
Strategy has accumulated a total of approximately 844,000 Bitcoin at an average purchase price of around $75,600 per coin. Given that Bitcoin is trading around $60,350, the company's unrealized losses exceed $12 billion.
This paper loss exceeds the total market capitalization of many well-known cryptocurrencies—including Dogecoin, Cardano, Chainlink, Litecoin, and Bitcoin Cash—highlighting the scale of Strategy’s leveraged exposure to the world's largest cryptocurrency.
Some analysts question whether the company should temporarily slow its Bitcoin purchases and strengthen its cash position, as falling preferred share prices make raising new capital more difficult.
Others argue that while the efficiency of the financing model may have diminished, it remains functional, suggesting that long-term performance hinges on a recovery in Bitcoin's price rather than short-term fluctuations in preferred shares.
Cryptocurrency prices today: Altcoins show mixed performance following earlier gains
Broader cryptocurrency markets traded mixed on Saturday amidst low trading volumes.
Ether rose 0.5% to $1,583.12.
XRP gained 1.2%, while BNB fell 1.0%.
Solana dropped 0.8% and Cardano declined 1.0%.
Among memecoins, Dogecoin fell 0.8% and TRUMP dropped 1.8%.
‍$BTC $XRP $DOGE

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#SOLANA, While Solana maintains critical support in the $55–$70 range, a $240 target stands out should it break above $100.
Solana is attempting to hold its ground within the critical support zone of $55 to $70.
If SOL rises above $100, the $120–$150 band and subsequently the $220–$240 range could come into focus.
While the $200–$300 range is highlighted on the weekly chart, a target exceeding $1,000 is considered speculative.
The risk of a decline could increase if there is a sustained drop below the $50–$60 band.
Following its recent decline, Solana is trading within the strong support zone of $55 to $70. A scenario for a broader recovery could gain momentum if the price climbs back above $100.
Critical threshold in a multi-year pattern
On weekly charts, SOL is hovering near the lower boundary of an expanding pattern that has been forming since 2024. The price action around the $68 level is seen as decisive in determining whether the market can successfully defend this zone. Previous tests of this same boundary have resulted in upward reactions.
An expanding pattern refers to a technical structure where the price creates higher highs and lower lows over time. In such structures, the upper and lower boundaries are monitored as zones of heightened volatility, where a breakout is crucial for determining the future direction.
According to the analysis, if the $55–$70 zone holds, the $100 level—followed by the $200–$300 range—could come back into play.
However, for a more significant bullish scenario to gain strength, the price must break above the pattern's upper trend line. The analysis assessed that this upper limit could form around $400 as the structure develops. It was emphasized that a confirmed breakout from the pattern could signal levels above $1,000 in the long term, though this remains merely a speculative target for now.
$55 to $70 Key support zone
$100 Initial threshold for a strong recovery
$200 to $300 Potential medium-term target area
$400 Resistance near the upper trend line
Above $1,000 Long-term speculative target
On the other hand, a drop below $55—and the price remaining below that level—could significantly weaken the bullish outlook. In such a scenario, the risk of deeper losses might increase.
Possibility of reaching $240 monitored on the daily chart
Similarly, the $60 to $70 range stands out on the daily chart. Although the price recently dipped briefly below the near-term consolidation zone, it has managed to remain above the broader support area.
The analysis suggests that reclaiming the $90 to $100 range could strengthen the likelihood of a recovery; in that event, the $120–$150 range and subsequently the $220–$240 zone would be the levels to watch.
The last two lows observed in the Relative Strength Index (RSI) also indicate that selling pressure may be easing. The current RSI level has recovered to approximately 41. However, this outlook alone does not confirm a definitive change in direction.
In the short term, a sustained drop below the $50 to $60 range could undermine expectations of a bottoming-out process. Therefore, the market's primary focus will be on whether the support zone holds and whether the $100 mark can be reclaimed.
‍$SOL