Bitcoin opened Monday near $59,700 as renewed U.S.-Iran peace efforts lifted equity futures but failed to revive crypto demand. The asset fell 0.3% during the session and 6.8% across the week. Meanwhile, fresh criticism of Strategy’s Bitcoin purchases added pressure around the market’s largest corporate holder.
Axios reported that the United States and Iran agreed to halt strikes and meet this week in Qatar. The talks will cover the Strait of Hormuz and a broader path toward ending the conflict. S&P 500 and Nasdaq 100 futures gained 0.5% following the report. Crypto markets barely responded, continuing a pattern that has shaped trading during the past two weeks.
Ether rose 0.3% to $1,572, while Solana gained 1.5%. By contrast, XRP and Dogecoin extended their declines as traders remained cautious. Bitcoin rallied after the June 19 peace agreement. Yet those gains faded as a hawkish Federal Reserve outlook and exchange-traded fund outflows returned to focus.
Meanwhile, South Korea announced plans to double DRAM production capacity around Seoul within five years. Samsung and SK Hynix committed 800 trillion won, or about $518 billion, toward four fabrication plants. Asian technology hardware shares declined during the rotation, although eight of the eleven MSCI Asia Pacific groups advanced. The artificial intelligence chip trade continued to shape wider market movements.
Will the Qatar talks and Thursday’s inflation report give Bitcoin a lasting catalyst? Both events now represent major tests for crypto markets this week.
Economist Peter Schiff said Sunday that Michael Saylor had destroyed shareholder value through Strategy’s Bitcoin accumulation plan. He cited the company’s paper losses and declining stock price. According to Schiff, it carries almost $14 billion in unrealized losses on its Bitcoin holdings. He also compared its $29.54 billion market value with the $64.10 billion spent acquiring Bitcoin.
Strategy holds more than 847,363 Bitcoin at an average purchase price of $75,651. That position makes the company the world’s largest corporate Bitcoin owner. Schiff argued that a large Strategy sale could push Bitcoin lower and limit potential liquidation proceeds. He has repeatedly criticized the company’s business model and cryptocurrency exposure.
Last week, Schiff said Saylor’s Bitcoin bet could become the largest losing trade in history. He has also called MSTR stock the worst route to Bitcoin exposure.
Read More: Why Bitcoin Network Usage is Surging Despite Stagnant Prices?
Concerns grew after Strategy disclosed Bitcoin sales earlier this month. The announcement weakened the ‘never sell’ position that many bullish investors had associated with the company. Since that disclosure, MSTR shares have fallen 45%. The stock closed Friday at $82.31 after dropping 3.54% during the regular trading session.
Saylor has defended Strategy’s actions during the current bear market. He said the company has provided liquidity and support for Bitcoin rather than creating systemic risk.
Bitcoin later traded near $60,041, up 0.28% over 24 hours, according to Benzinga Pro. That reading remained close to the level recorded during Monday’s flat market opening.
Bitcoin remained near $60,000 even as U.S.-Iran peace talks supported equities, while Strategy faced renewed criticism over its mounting paper losses and declining share price. Investors should now watch the Qatar negotiations and inflation data, as both could shape Bitcoin’s next major market direction.