Bitcoin stuck in a rut 🚜

Bitcoin is caught in a standoff, analysts told Decrypt, with selling pressure "nearly exhausted" but few buyers stepping up.

Author

Stephen Graves
June 22, 2026

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📝 What you need to know

Bitcoin is caught in a sideways grind, reflecting selling pressure that’s “nearly exhausted, rather than a return of demand,” analysts told Decrypt. While it showed unexpected resilience in the face of new Fed Chair Kevin Warsh’s hawkish debut, any rally depends on a return of risk appetite and "cooperation from long-end rates," with Bitcoin reverting to a macro liquidity asset trading framework.

Catalysts may yet be weeks away, with the Clarity Act vote and a delayed cooling of inflation should the U.S.-Iran truce hold—but a near-term test looms with the expiry of $10.9 billion in Bitcoin options Friday.

Meanwhile, Bitcoin treasury firm Strategy is focusing its efforts on padding its cash reserve, topping it up to $1.4 billion while making its smallest BTC buy since its market-shaking decision to sell three weeks back.

Bitcoin 'Resilient' After Hawkish Fed, But No 'Return of Demand': Analysts

With ETF outflows persisting and selling "nearly exhausted," analysts say Bitcoin is range-bound and waiting for a catalyst.

📰 In the News

Strategy Pads Cash Reserves to $1.4B After STRC's Stumble

Michael Saylor’s firm topped up its USD cash reserve to $1.4 billion as it made its smallest Bitcoin buy since selling 32 BTC three weeks ago

$1.9M in Fake Bets Drove Polymarket Hype: WSJ

A Wall Street Journal probe found none of the roughly $1.9 million in bets shown across 1,100-plus creator videos were real.

Bank of England Eases Stablecoin Rules, Swaps Holding Caps for £40B ‘Guardrail’

The BoE scrapped individual holding caps for a £40 billion per-coin issuance limit and will let issuers hold more reserves in government debt.

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📊 Myriad Insight of the Day

Norway vs Senegal: World Cup Group I
Norway 44%Draw 28%28% Senegal
   
Why it matters
Norway opened with a 4-1 thrashing of Iraq, Haaland scoring his first two World Cup goals on debut, per ESPN. France beat Senegal 3-1 in the other Group I match, leaving Senegal needing a win Monday at MetLife to stay alive. Norway's last World Cup was 1998; Senegal famously beat France in their own 2002 debut. The matchday-one results have shifted the market against Senegal, whose chances slipped while Norway's crept up.
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📚 Watch & Learn

📹️ WATCH: BTC Holds $64K as Iran Deal Wobbles, STRC Fell to a Record Low of $83, CME Sues the CFTC

🎧 LISTEN: The Decrypt News roundup with TylerD - June 22nd

STRC finding a new low and another $227M in ETF outflows weren't enough to keep Bitcoin down over the past week. But new Iran peace deal uncertainty has markets wobbling.

🎓️ LEARN: What Are Coin Mixers and How Do They Work? - Decrypt

Coin mixers like Tornado Cash have faced sanctions for aiding money laundering, but advocates argue they have legitimate use cases.

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