Asian stocks climbed and oil slipped below $80 after the US and Iran agreed on a roadmap toward a final peace deal. At the same time, crypto stayed soft. Bitcoin opened the week near $64,000 and missed the risk rally.
The token traded around $63,996 on Monday. It fell 0.4% over 24 hours and 2.2% on the week, according to CoinDesk data. Solana rose 3.7% on the week to $74, while tron added 2.2%. Ether held near $1,733.
Losses ran deeper in other parts of the market. BNB fell 4.2% on the week, XRP dropped 4.3% to $1.13, and dogecoin led major losses with a 6.5% decline. Hyperliquid’s HYPE also cooled, falling 5% on the day after a strong early-June run.
The macro backdrop turned friendlier for risk assets. Yet Bitcoin did not follow the move. An MSCI gauge of Asian stocks rose 0.6%, led by a technology rally tied to optimism around artificial intelligence.
US futures moved in the other direction. S&P 500 contracts fell 0.5%. Meanwhile, Brent crude dropped 1.7% to about $79 a barrel as peace talks between the US and Iran advanced.
Mediators from Qatar and Pakistan said encouraging progress had been made, according to Bloomberg. They also described a mechanism for further technical talks and a communication line to keep commercial ships moving safely through the Strait of Hormuz.
Bitcoin has often tracked risk assets during the Iran story. This week, it stayed flat while equities moved higher. The talks still carried uncertainty. On Sunday, Iran briefly halted them after President Donald Trump again threatened strikes if Hezbollah kept attacking Israel. Both sides later agreed to a channel aimed at preventing escalation.
As the market watched the macro backdrop, crypto remained uneven. Bitcoin held below the levels it had at the start of June. That left traders focused on whether the 60-day roadmap could hold.
Strategy’s STRC preferred shares also came under pressure. The security fell to its lowest level since launch. It traded below its US$100 liquidation preference and raised questions about a key funding channel for the company’s Bitcoin strategy.
STRC hit an intraday low of US$82.53 before closing at US$88.59 on Thursday. That left the shares about 13% below par. Strategy launched STRC in July 2025. The company designed it to stay near US$100 through adjustable dividends. It planned to use the proceeds to buy Bitcoin.
The wider discount pushed the effective yield above 12.9%. It also helped pause at-the-market share issuance, which could slow the capital raising behind Strategy’s Bitcoin purchases.
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The decline in STRC came alongside slower Bitcoin buying. Strategy purchased 1,550 BTC for US$101 million in the week ending 8 June. It then bought 1,587 BTC for US$100 million in the week ending 15 June.
Those purchases brought total holdings to 846,842 BTC. They were much smaller than earlier buys this year. In April, Strategy bought 34,164 BTC for US$2.54 billion in one week.
In May, it bought 24,869 BTC for about US$2.01 billion.
The company also sold 32 BTC worth around US$2.5 million earlier in June to help meet dividend obligations. That sale showed that cash needs can still force Bitcoin sales when funding conditions tighten.
Some analysts argued the STRC drop did not reflect a broken model. Jesse Myers said leveraged positions were being unwound. Scott Melker said dividends are tied to the US$100 liquidation preference, which gives buyers at discounted prices a higher effective yield.
Bitcoin stayed weak even as Asian stocks gained on progress in US-Iran peace talks and oil fell below $80. Strategy’s STRC also slid below par, slowing Bitcoin buying and adding pressure to the market. Traders now await whether the macro rally will finally lift crypto.