Foreign media reports indicate that Bitcoin has fallen nearly 15% in June, with pessimism intensifying after rumors circulated that Strategy was selling off its holdings. As of press time, Michael Thaler had not provided a clear response to these speculations, raising concerns that the selling pressure may not yet be over.
As Bitcoin fell to $61,200, the Crypto Fear and Greed Index also dropped to 11, entering the "extreme fear" zone. The article notes that this level is close to the sentiment readings near the lows of February and March this year, but many analysts believe this does not necessarily mean a strong price rebound is imminent.
Analysts remain cautious.
Trader Peter Brandt stated that Bitcoin has reached his previously set target of February lows, but the market may continue to decline, potentially even experiencing a more thorough sell-off. He believes that a truly meaningful low point for trading may not appear until October.
The article also points out that while Bitcoin's year-to-date decline has widened to approximately 25%, US stocks have strengthened. This divergence has led some market participants to question whether risk capital is shifting from crypto assets to other popular sectors.
Funds may continue to flow into AI trading
Jake Ostrovskis, head of OTC trading at Wintermute, believes that a cooling down of the AI trading hype may be needed for the market to regain stronger interest in crypto assets and Bitcoin. Benjamin Cowen expressed a similar view, believing that a rotation of funds is needed to potentially mark the start of the next Bitcoin cycle.
The article mentions that the market is paying close attention to the potential IPOs of several AI companies. SpaceX is expected to launch its IPO on June 12, Anthropic is expected to go public in September, and OpenAI may also proceed with its public listing later in 2026. Foreign media believe that the continued attraction of funds to the AI sector may suppress risk appetite in the crypto market in the short term.
Institutions are betting on lower prices
The derivatives market also reflects a rise in defensive sentiment. Deribit data shows that options traders, especially institutional investors, are increasing their hedging against further declines in Bitcoin.
The article states that in the past 24 hours, put options expiring at the end of June at $50,000 and $45,000 became among the most actively traded contracts. This indicates that some funds are preparing for further weakness in Bitcoin.
Overall, foreign media believe that while the current level of extreme panic is close to previous lows, the market has not yet reached a consensus that it has bottomed out. In the short term, whether Bitcoin can stabilize depends on whether selling pressure eases and whether funds flow back into the crypto market from popular AI trading.
