Bitcoin's Puell Multiple Indicator Shows Miner Pressure, Analysts Say $59,000 May Be This Cycle's Bottom

June 21 — According to Al Jazeera, Iran’s president announced that as part of a preliminary deal to end the war with the U.S., the $6 billion currently held by Qatar will be returned.

June 21 – Iran’s Tasnim News Agency reported that, based on maritime navigation data, no vessels have transited the strategic Strait of Hormuz since the Iranian military announced its closure on June 20. Traffic through the key waterway has fallen to zero, directly contradicting claims from the U.S. military. The news agency asserts the Strait of Hormuz is currently blocked under Iranian control.

**June 21 Update: U.S. Stock Market Closed 3 Straight Days; On-Chain Platform Trade.xyz Pre-Prices Monday’s U.S. & South Korean Equities** The U.S. stock market has been shuttered for three consecutive days, while on-chain Nasdaq-related platform Trade.xyz now offers continuous trading via perpetual contracts—providing real-time price discovery unavailable in traditional finance to set preliminary pricing for Monday’s U.S. and South Korean stock markets. Popular U.S. stocks on Trade.xyz show mixed weekend performance relative to Friday’s after-hours levels; slight gains are forecast for MRVL, AMD, and Intel in Monday’s pre-market session. Per Bitget market data: - SpaceX: Currently trading at $181.2 (vs. Friday’s close of $181.6) - Micron (MU): $1145.7 (vs. Friday’s $1151.01) - Sandisk (SNDK): $2227.4 (vs. Friday’s $2209.87) - NVIDIA: $209.34 (vs. Friday’s $210.33) - Marvell Technology (MRVL): $316.8 (vs. Friday’s $313.57) - Intel: $138.38 (vs. Friday’s $134.16) - G

BlockBeats reported on June 21 that Adam Back, CEO of Blockstream and an early Bitcoin community contributor, stated that the market’s negative view of Strategy and its preferred stock STRC lacks a factual basis. Back emphasized that what Strategy is essentially doing is selling Bitcoin to pay dividends, without altering its Bitcoin reserve strategy. Moreover, Strategy is proving it can deliver returns to investors via Bitcoin while reducing its debt ratio, showcasing a new financial model to the market. The firm suggested Bitcoin could potentially become a cash alternative asset in the future for corporate asset management and capital operations. Back added that the FUD surrounding MSTR and STRC has been exaggerated, and that Strategy will not "reset." Its long-term value lies in holding Bitcoin continuously and driving the market’s understanding of Bitcoin’s monetary properties.

June 21: According to HTX market data, Bitcoin fell below $64,000, trading at $63,926 at press time, notching a 0.7% gain over the last 24 hours.

June 21 — According to Iran’s state-run Islamic Republic News Agency (IRNA), Foreign Ministry spokesman Saeed Khatibzadeh announced that Switzerland’s one-day Berne Summit will host an afternoon quadrilateral meeting between Iran, the U.S., Qatar, and Pakistan. The session is a follow-up to the implementation of the Memorandum of Understanding between Iran and the U.S. A key focus of the Swiss gathering will be the U.S.’s failure to broker a ceasefire in Lebanon. Additional topics on the agenda include exemptions for Iran’s oil sales and the unfreezing of Tehran’s frozen assets.