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Strategy's STRC hits record low on Bitcoin weakness
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Strategy's preferred stock STRC fell to a new low as Bitcoin traded below $60,000. The shares traded around $73, down 3 percent in pre-market trading on Friday.
Bitcoin fell to an intraday low of $58,189 on June 25 before recovering toward $59,700. Spot Bitcoin ETFs recorded net outflows of roughly $692 million in recent sessions. The moves came ahead of a major options expiry.
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Strategy Inc.’s perpetual preferred stock STRC has seen its 90-day correlation with Bitcoin rise to nearly 0.70, the highest level since the instrument debuted in July 2025. The stock has fallen sharply alongside Bitcoin in recent weeks.
Bitcoin climbed back above $65,000 on June 22 after touching lows near $63,000, supported by a sharp drop in crude oil prices.
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Ethereum core contributors are debating a protocol change that would allow validators to redirect a portion of their rewards to fund ecosystem development. The mechanism would cap the redirection at 10% and activate it network-wide if a majority supports it.
Residents in Hong Kong continue to use platforms like Polymarket and Kalshi for bets on politics and other topics even after official warnings.
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Activity on the Bitcoin network has surged even as the cryptocurrency's price has fallen nearly 50 percent below its peak, according to CryptoQuant. The increase in network use does not appear to be tied to movements in Bitcoin's value.
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