Bitcoin price is currently trading at around $65,150, down -0.8% over the past 24 hours. The main risk below this price level is not macro rates or ETF flows, but rather the strategy’s upcoming Q2 earnings report (MSTR) on July 31.
As the largest publicly traded holder of Bitcoin, a decline in the company’s metrics could directly impact Bitcoin. In the first quarter of 2026, Strategy reported an operating loss of $14.5 billion, driven largely by falling bitcoin prices, although software revenue grew to $124.3 million.
Accumulation metrics have worsened, with Bitcoin yield falling to 5.8% and Bitcoin stock growth falling to 8% year over year. The London Stock Exchange Group’s (LSEG) second-quarter consensus expects a return of $3.86 billion to operating profit.
This is based on limited analyst estimates and could lead to a downside surprise, especially given that Bitcoin’s price fell in the second quarter to around $59,100 from around $68,100 at the end of the first quarter.
Can Bitcoin price hold $60k as strategy mNAV risks increase?
The strategy has more than $51,000,000,000,000 $ Bitcoin.
But the company itself is now worth only $29.5 billion.
For years, investors have dealt… $MSTR Such as leveraged Bitcoin ETFs.
The model was simple:
Issue more shares → Buy more Bitcoin → BTC rises → Investors continue to pay…
– Ted (@TedPillows) June 27, 2026
The $60,000-$61,000 area is now the crucial support range. A decisive break lower opens the way towards the mid-$50,000 area, where the next large demand group lies. Resistance levels are between $66,000 and $68,000, with the previous highs above $70,000 representing the upper scenario target.
There are three scenarios that frame the near-term range:
Bull case: Macro data has become supportive, Bitcoin ETF (exchange-traded fund) spot inflows have resumed, BTC has regained highs at $60,000, Strategy’s mNAV has stabilized above 1.22x, and the accumulation pattern remains stable.
Basic case: Bitcoin price is moving in a range between $60,000 and $65,000 as open interest returns to normal, and traders await Fed signals, with mNAV hovering just above parity.
bear case: $60,000 fails, mNAV falls back towards or below the 0.99x low it touched in late June, and Possibility of imposing the strategy Selling BTC presents real structural selling pressure.
This last scenario is the one that most traders have underpriced. When mNAV is less than 1.22x, the break-even level declared by management once debt and preferred equity are taken into account, Every stock issue destroys value rather than creates itThe buying pressure strategy that has historically provided Bitcoin is evaporating.
The model that made MSTR a leveraged BTC proxy only works at a premium. Without it, the strategy becomes a carrier rather than an accumulative tool, which is a subtle but important shift of market structure.
explores: Best Meme Coins You Can Buy in July
Bitcoin Hyper targets infrastructure bullish as BTC spot kiosks stall
Traders are monitoring the Bitcoin price range as structural support for the strategy fades, and are increasingly looking for early-stage exposure across the Bitcoin stack, where upside potential is asymmetric, and price action is decoupled from Bitcoin’s spot volatility.
Bitcoin Hyper ($HYPER) It positions itself at that infrastructure layer, specifically as the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, targeting the sub-second end and low-cost smart contract implementation while maintaining Bitcoin’s core security model.
The project addresses Bitcoin’s fundamental limitations — slow throughput, high fees, and limited programmability — through a decentralized fiat bridge for Bitcoin transfers and an SVM-based implementation that the team claims outperforms Solana itself in transaction latency.
The pre-sale has raised $32,977,147.17 at a current token price of $0.0136835, with storage available for participants.
Visit the Bitcoin Hyper Presale website here.
discovers: Best coins to buy in 2026
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
Daniel Francis is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel brings his background in cross-chain analytics to author evidence-based reports and detailed guides. It is certified by the Blockchain Council and is dedicated to providing “information gain” that cuts through the market noise to find blockchain’s real-world utility.
