Bitcoin Steadies Above $63k After Sharp Weekly Drop as Macro Conditions Improve

Bitcoin recovered above $63,500 after a volatile week that saw the price swing from nearly $73,000 to below $60,000 before stabilizing. The move marked one of the most turbulent periods in recent months, with the asset briefly entering valuation zones typically linked to bear market bottoms, but without the full panic selling usually seen at cycle lows.

Sharp Drop Followed by Fast Recovery

Bitcoin opened the week near $73,000 but quickly fell under $60,000, its lowest level since the U.S. election in November 2024. By Saturday, it had rebounded to around $63,500, still roughly 50% below its October 2025 all-time high of $126,000.

Despite the steep correction, the market did not experience a full capitulation event, which often signals a confirmed bottom in previous cycles.

Strategy Bitcoin Sale Sparks Market Reaction

Sentiment was briefly shaken when Strategy, the largest corporate Bitcoin holder, disclosed it sold 32 BTC worth about $2.5 million between May 26 and May 31. The company said the sale was used to fund dividends on its STRC preferred shares.

Although the amount sold was small compared to its massive holding of around 845,000 BTC, the move surprised traders because the firm, led by Michael Saylor, has long promoted a “never sell Bitcoin” philosophy.

At the same time, Strategy also sold roughly 800,000 shares through its at-the-market program, adding to investor uncertainty and raising questions about its financial strategy.

Macro Factors Drive Recovery

Broader market conditions played a key role in Bitcoin’s rebound. Earlier weakness was driven by rising geopolitical tensions between the U.S. and Iran, higher oil prices, and concerns about prolonged high interest rates, all of which pressured risk assets.

However, sentiment improved after signals of easing tensions between Washington and Tehran, along with a drop in oil prices. U.S. officials also pointed to progress toward a potential agreement, which helped restore confidence in global markets.

SpaceX Debut Boosts Risk Appetite

A strong market debut for SpaceX added further support to risk sentiment. The stock listed on Nasdaq and closed at $161, up about 19% from its offering price of $135, encouraging renewed interest in risk assets across markets.

Bitcoin itself ended the week up 4.7%, but the move masked significant volatility and a deep midweek selloff.

Market Outlook Still Depends on Demand

Despite the recovery, analysts note that a sustainable bottom will require stronger demand. Stable ETF inflows, renewed large-scale buying, and clearer signs of seller exhaustion are still needed before confirming that the correction has fully ended.