Bitcoin Stalls Near $62.6K as Strategy Adds 1,550 BTC, Humanity Hack Drains $32M

Bitcoin News The recent Bitcoin rebound off Friday's sub-$60,000 plunge looks more like a relief rally than a genuine turn, analysts caution. Traders argue the asset must reclaim the $79,000-$80,000 zone before the move qualifies as a regime shift rather than a corrective bounce inside the broader downtrend that began last year. More optimistic observers see a recovery toward $68,000 as plausible, framing it as a rebound from the steep slide between mid-May and early June. For now, the consensus is sober: without acceptance above the key levels, the recovery remains a counter-trend pop, and the prevailing bear market stays intact. Strategy, the largest publicly listed corporate holder, disclosed it acquired an additional 1,550 BTC for roughly $101 million, lifting its total stash to 845,256 coins. The buy dwarfs the 32 BTC the firm offloaded in the final days of May, yet it failed to move price, with Bitcoin pinned near $62,600. The muted reaction underscores how thin conviction has become: corporate accumulation that once sparked rallies now barely registers. Market participants note demand reappears on dips but capital is not chasing upside with the confidence seen earlier in the year, leaving even sizable treasury purchases unable to override the cautious macro backdrop weighing on risk appetite. A sharp reminder of sector risk arrived as Humanity Protocol's H token collapsed as much as 80% to 90% after attackers compromised the project's private keys and drained more than $32 million. Losses were still climbing as the exploit unfolded, ranking it among the more damaging incidents of the cycle. The episode rattled an already fragile altcoin complex, reinforcing why investors are demanding tighter operational security from emerging protocols. Private-key theft remains one of the most catastrophic failure modes in crypto, and the speed of the H token's decline highlighted how quickly liquidity evaporates once confidence in a project's custody and infrastructure breaks down. Derivatives data paints a picture of caution rather than capitulation. Total crypto futures volume eased 1.3% to about $190.7 billion over 24 hours, while open interest held roughly flat near $103 billion. Liquidations crashed 48% to $301 million, a sign the most aggressive leverage has already been purged from the system. Negative funding rates and put-heavy positioning signal persistent defensiveness, with traders hedging downside rather than positioning for a breakout. The combination of reduced forced selling and steady open interest suggests the market has stabilized at lower levels, but the absence of bullish funding leaves little fuel for a sustained advance without a fresh catalyst. The weakness extends well beyond Bitcoin into the wider digital-asset market. Broad benchmarks tracking the largest tokens slipped around 1.3% over 24 hours, while a DeFi-focused index fell roughly 1.8%, underscoring that risk aversion is pressuring nearly every corner of the space. Bitcoin's inability to hold ground above $64,000 has removed the anchor that typically lifts smaller assets, and trading desks across major exchange venues report subdued spot activity. With the bellwether asset drifting sideways, capital rotation has stalled, leaving altcoins exposed to amplified downside whenever sentiment sours or fresh negative headlines emerge. Macro forces remain the dominant variable. Investors are bracing for Wednesday's U.S. inflation print, expected to show the cost of living topped 4% in May, well above the Federal Reserve's 2% target. A hotter reading would stoke fears the Fed leans more hawkish at next week's FOMC meeting, pressuring risk assets further. Persistent ETF redemptions compound the strain: the eleven U.S. spot Bitcoin funds have processed more than $5 billion in net outflows over four weeks. A meaningful reversal in those flows, paired with softer inflation, is widely viewed as the precondition for any durable recovery in price. Technically, Bitcoin trades near $62,621 after a 1.8% daily decline, locked in a confirmed downtrend. The RSI at 25.7 sits deep in oversold territory, raising the odds of further sharp relief bounces, yet the MACD remains bearish, confirming downside momentum still controls the tape. Immediate support rests at $61,820, with deeper cushions at $59,131 and $52,679. Resistance stands at $64,203, then $66,611 and $68,192. A reclaim of $64,203 on rising volume would validate near-term bulls, while a clean break above $68,192 opens the path toward the $79,000-$80,000 reclaim analysts demand. A daily close below $59,131 invalidates the recovery thesis and exposes the $52,679 zone.