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Bitcoin traded near $64,000 on Sunday as investors assessed renewed tension around the Strait of Hormuz and fresh doubts over Strategy’s Bitcoin funding model. The leading cryptocurrency recovered from Friday’s fall below $63,000 but recorded little movement across the week.
Bitcoin rose 0.92% over 24 hours to about $64,072. The broader crypto market also posted a modest gain after geopolitical pressure eased earlier in the week. Nevertheless, Iran’s latest order to close the Strait of Hormuz created fresh uncertainty before permanent ceasefire talks in Switzerland.
Bitcoin climbed toward $64,200 over the weekend after a wider risk-off move pushed the price lower on Friday. Ether gained 0.5% to $1,734, while Solana rose 1.5% to $73. Tron also added 1.2%.
Meanwhile, Dogecoin fell 4.9% over seven days. Hyperliquid’s HYPE declined 2% in 24 hours but retained a weekly gain of 14.8%.
US and Iranian officials are expected to discuss a permanent ceasefire in Switzerland. The talks follow a memorandum signed last week that created a 60-day negotiation period, with an option to extend it.
Still, doubts returned after Iran issued another order to close the Strait of Hormuz. The shipping route had reopened under the earlier agreement, helping oil prices fall about 9% last week and supporting risk assets.
A renewed closure could disrupt global oil shipments and raise energy prices. Such a move may reduce demand for risk assets, including Bitcoin, as traders move toward safer holdings.
On the other hand, a lasting ceasefire could remove part of the geopolitical pressure affecting crypto and stock markets. Bitcoin has remained within a narrow range as investors wait for clearer details from the negotiations.
Technical data shows support near the 78.6% Fibonacci retracement level of $63,150. Bitcoin also trades close to its 200-week simple moving average near $62,000.
If Bitcoin holds above $63,150, the price could test $65,000. A break below the support area may open another move toward $62,000. The seven-day simple moving average near $64,670 forms the next short-term level for buyers.
Separate doubts have emerged around Strategy’s Bitcoin purchases after its Stretch preferred shares, known as STRC, fell below their $100 par value. Bitcoin has fallen more than 40% since Strategy launched STRC in late July 2025, adding pressure to the company’s preferred-equity funding channel.
STRC reached a record low of $82.53 on Thursday before closing at $88.59. The instrument uses an adjustable dividend, currently set at 11.5% annually, with proceeds mainly used to fund Strategy’s Bitcoin purchases.
Yet the widening discount has slowed new share issuance and raised STRC’s effective yield to about 13%. Bitcoin critic Peter Schiff described the product as a “classic centralized Ponzi.”
Crypto trader DonAlt also questioned why STRC was “trading like a Ponzi” after its sharp fall below par. Strategy has not directly answered those claims and has continued to present STRC as preferred equity backed by its Bitcoin-focused treasury plan.
Other analysts dispute claims that STRC’s decline signals deeper financial problems. Jesse Myers said “Strategy is fine” and linked the sell-off to leveraged investors facing margin calls and forced selling.
Strategy bought 1,550 Bitcoin for $101 million in the week ending June 8. It added another 1,587 Bitcoin for $100 million the following week, taking total holdings to 846,842 Bitcoin.
However, those purchases were smaller than earlier deals. Strategy bought 34,164 Bitcoin for $2.54 billion in one week in April and 24,869 Bitcoin for about $2.01 billion in May.
The company also sold 32 Bitcoin earlier in June to support dividend payments. Strategy may announce STRC’s next dividend rate on June 30 as investors watch whether the shares move closer to their $100 par value.
Also Read: Bitcoin Bottom Prediction by AI: ChatGPT and Claude Forecast $52K–$54.5K Range for 2026
