Bitcoin, after a week of sharp fluctuations, remained close to $60,000. Despite renewed tension in the Middle East and the testing of global risk preferences, there was no apparent panic in the market on weekends and BTC was relatively calm.

It fell to the vicinity of $58,000 last week.

At the beginning of last week, bitcoin rose to about $655 million after recovering support of $64,000, but the increase was not sustained. This was followed by an increase in sales, with prices falling by $6.24 million and $5.99 million, followed by an approach of $5.88 million, which was low since the end of 2024.

Short-line areas of current market interest are relatively clear. If $58,000 were to fall, the push could be further expanded; if the 64,000 to $66,000 were to be repositioned, the buyout would begin to resume.

The Middle East risk didn't trigger a weekend panic.

The calm in this round has come to the fore because the United States and Iran have, again in recent days, blamed each other for the breakdown of the ceasefire and the geo-risk has reheated. Earlier, the market had been warmed by an agreement between the United States and Iraq, when oil prices and inflationary concerns had eased, when Bitcoin had broken by $65.5 million.

At present, geo-situations have not yet triggered a centralized sale of the encrypted market. Bitcoin has not recovered its strength, but it has not been further lost on weekends, indicating that funds are still looking in a clearer direction.

Strategy's concerns are still silencing.

Another ongoing pressure from the market comes from Strategy. This company, formerly MicroStrategy, is still the world ' s largest business, Bitcoin, and therefore changes in its capital structure directly affect market sentiment.

It was pointed out that Strategy had in the past relied on stock premium financing and continued to buy bitcoin, under pressure from weak market pricing. CryptoQuant also mentioned that, as cash reserves fell, the dividends covered by STRC had been reduced to about 14 months and recommended that the company suspend the increase in its reserves of bitcoin and prioritize the restoration of cash reserves.

But that doesn't mean Strategy needs to sell bitcoin immediately. The current market is more concerned about whether concerns about BTC will be magnified if further pressure is taken on STRC or MSTR.

The data in the chain is close to historical underestimation.

With regard to the data on the chain, CriptoQuant analyst Crazzyblock indicated that the short-term holders of bitcoin had achieved a dominance of 27.6 per cent. This level usually means that long-term holders have the majority of realized capital, which is historically closer to accumulation than at the top of the cycle.

Another analyst, Facundo Fama, focused on the SOPR indicator for long-term holders. He noted that when LTH-SOPR was close to or below 1, it meant that long-term holders were selling their holdouts in near-loss or even loss. Last time this indicator was lower than 1 for three months or October 2022, when bitcoin was traded near $20,000.

According to analysts, these data do not directly confirm that the market is at its bottom, but indicate that long-term holder pressure has returned to less common areas. In the short term, the ability of Bitcoin to hold $58,000 and recover between $64,000 and $66,000 will continue to determine the next phase.