Bitcoin Reclaims $65K as Strategy Stops Buying | Daily Crypto Roundup

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Welcome back to the Daily Crypto Roundup. Bitcoin has completed another sharp intraday reversal. Michael Saylor's strategy has raised hundreds of millions of dollars without buying a single additional Bitcoin. Tom Lee's BitMine has dramatically slowed its Ethereum buying as it turns its attention towards its own struggling shares. Cardano has completed one of the most important governance upgrades in its history. And Solana is trying to break back above $80 while security incidents continue to damage confidence across its ecosystem. Make sure you stay with us, because today's stories tell us something important about where the crypto market is right now. Prices are attempting to recover, but some of the largest corporate buyers are suddenly behaving more cautiously, and that is something investors cannot afford to ignore. At the time of recording, Bitcoin is trading at approximately $65,400 after reaching its highest level in around a month. Ethereum is trading close to $1,900.
XRP is at approximately $1.11.
BNB is around $573. Solana is trading just below $78.
And Cardano is at approximately $0.165.
Before we get into the first story, please follow the podcast and leave us a 5-star rating. It takes seconds, costs absolutely nothing, and helps Crypto News Today reach more people. You can also receive 20 XRP when you sign up to Kraken through our link and complete your first qualifying trade. Once you have done it, send us a message so we can arrange your XRP.
Today, we begin with Bitcoin, which experienced another dramatic change of direction during Monday's trading session. Bitcoin initially fell to approximately $63,900 as investors reacted to rising oil prices, renewed geopolitical tensions and continued weakness across technology and artificial intelligence related stocks. Brent crude oil climbed above $91 per barrel at one stage as tensions involving the United States and Iran raised concerns about future energy supplies. Higher oil prices can create fresh inflationary pressure, which in turn could make central banks more reluctant to cut interest rates. That matters to Bitcoin because the cryptocurrency has increasingly traded alongside other risk assets. When investors expect interest rates to remain higher for longer, speculative assets can come under pressure. Bitcoin was also affected by weakness across semiconductor and artificial intelligence stocks following the heavy selling seen at the end of last week. However, the mood changed after reports emerged that Iranian mediators had proposed a 10-day ceasefire designed to create an opportunity for negotiations. Oil prices moved lower following that report. Technology shares recovered and Bitcoin climbed back above $64,000 before eventually reaching approximately $65,400.
That represents a gain of around 1.4% over 24 hours and places Bitcoin at its highest level in approximately one month. The crucial area now is $65,000.
Bitcoin has tested this level repeatedly since falling as low as $58,000 during the June market crash. Each previous attempt to establish a convincing breakout has struggled. This means briefly trading above $65,000 is not enough. Bulls need to produce a sustained daily close above the level, followed by continued buying rather than another immediate rejection. If Bitcoin can turn $65,000 from resistance into support, it would strengthen the argument that the June low marked a meaningful market bottom. If it loses the level again, traders may begin looking back towards $63,000, followed by the psychologically important $60,000 region.
Our next story concerns Michael Saylor's strategy, and this is where the behavior of one of Bitcoin's largest corporate holders becomes particularly interesting. Strategy raised approximately $263.5 million last week by selling more than 2.7 million shares of its common stock. Despite raising that money, the company did not purchase any additional Bitcoin. Strategy's Bitcoin holdings remained unchanged at 843,775 Bitcoin for the second consecutive week.
Instead, Strategy used most of the money to strengthen its United States dollar reserve. That cash reserve has now increased to approximately $3.225 billion.
The company says the reserve will help it meet dividend payments on its preferred shares, as well as interest payments and other financial obligations.
Strategy's high-yield preferred security, known as STRC, now carries an annual dividend rate of 12%.
The company estimates that its current cash reserve provides approximately 22 months of dividend coverage. That should reduce the risk of Strategy being forced to sell Bitcoin simply to meet its short-term financial commitments. However, the decision also demonstrates that Strategy cannot focus exclusively on accumulating Bitcoin. It must balance Bitcoin exposure with the increasingly complicated financing structure that has been built around the company. Strategy acquired its current Bitcoin holdings for a total cost of approximately $63.69 billion, including fees and expenses. Its average purchase price is around $75,476 per Bitcoin. With Bitcoin trading near $65,400, the market value of those holdings is currently well below Strategy's total acquisition cost. That does not necessarily mean Strategy has abandoned its long-term Bitcoin thesis. The company still controls more than $843,000 Bitcoin and has billions of dollars remaining under its share sale program. But after years of Saylor presenting every capital raise as another opportunity to buy Bitcoin, two consecutive weeks without a purchase will attract attention. It suggests that strengthening the balance sheet and supporting Strategy's dividend obligations have temporarily taken priority over accumulating more Bitcoin. Another major corporate crypto buyer has also changed its approach. Tom Lee's BitMine purchased just 7,430 Ethereum last week, worth approximately $14 million at the time. For most companies, buying $14 million of Ethereum would be enormous. For BitMine, however, it represents one of its smallest weekly purchases since it began building its Ethereum Treasury Strategy in June 2025