Bitcoin stabilized near $60,000 on June 26, rising 0.3% to $59,623.62, but risk-off sentiment continues to weigh on the market. Spot Bitcoin ETF redemptions totaled $1.3 billion in the past week, signaling that some institutional investors are reducing positions rather than buying the dip. Ethereum rose 0.4% to $1,567.40, while Solana surged 8.4% to $71.85, buoyed by increasing tokenized stock issuance on its network. Uncertainty surrounds Michael Saylor's Strategy firm, the largest corporate Bitcoin holder with about 4% of total coins, as its shares have fallen nearly 50% in the past month.
MicroStrategy IncorporatedShares have fallen nearly 50% in the past month, and the company is the largest corporate Bitcoin holder, exposed to Bitcoin's price weakness and ETF outflows.