Bitcoin could slide more quickly if a large cluster of long positions is liquidated just below current levels, one analyst warned. The analyst said more than $1.6 billion in long leverage is concentrated around $58,000. With Bitcoin at $59,175 on Wednesday, that zone was described as close to being triggered.

Michael Saylor should stop buying Bitcoin and rebuild cash reserves at Strategy, according to CryptoQuant. The on-chain analytics firm said mounting dividend obligations and shrinking cash have tightened the company’s financial flexibility.

Bitcoin is under pressure from two sides: sustained selling and a fresh macro headwind. Analysts say a strengthening U.S. dollar is adding to downside forces. They also point to continued distribution as weighing on the market.

The U.S. economic calendar is crowded for June 22–26, with several releases expected to shape inflation and growth expectations. Fresh inflation data is due, including the Personal Consumption Expenditures (PCE) report. Geopolitical rhetoric is also intensifying again in the Middle East.

Another weekly batch of crypto options is set to expire as spot markets turn lower again. About 30,500 Bitcoin options and 137,600 Ethereum contracts are due to roll off on Friday, June 19. The combined notional value of the expiries is around $2.1 billion.

Michael Saylor’s Strategy says its Bitcoin reserve provides 32 years of dividend coverage. The claim is based on the firm’s BTC treasury being worth just under $55 billion versus $1.7 billion in dividend obligations. Critics argue the calculation depends on assumptions that may not hold, including Bitcoin’s price and whether Strategy needs to sell BTC to fund payouts.

Crypto prices opened the week in the green as traders weighed headlines around an Iran peace deal and a packed US macro calendar running from June 15 to 19. Markets are also focused on Wednesday's Federal Reserve rate decision and Kevin Warsh's first meeting as Fed Chair, alongside May industrial production, housing starts, and retail sales data.

Roughly 35,000 Bitcoin options are set to expire on Friday, June 12, with a notional value near $2.23 billion, while about 175,000 Ethereum options worth around $293 million also roll off. Max pain levels are cited at roughly $67,000 for BTC and $1,750 for ETH, as spot markets remain pressured even with BTC up about 2% to around $63,500.

Bitcoin hovered around $62,000 as geopolitical risk rose after Iran said it had closed the Strait of Hormuz and the US reported additional strikes in the region. US CPI climbed to 4.2% on Thursday, the highest in three years, adding pressure to risk assets. The broader crypto market cap sat near $2.2 trillion, close to levels last seen in October 2024.