Michael Saylor should stop buying Bitcoin and rebuild cash reserves at Strategy, according to CryptoQuant. The on-chain analytics firm said mounting dividend obligations and shrinking cash have tightened the company’s financial flexibility.

CryptoQuant says Michael Saylor’s Strategy (formerly MicroStrategy) should take a break from accumulating Bitcoin and focus on rebuilding its cash buffer. The analytics firm warned that Strategy may need to slow or temporarily halt its aggressive buying as cash reserves have reportedly fallen by about 38%.

Analysts say bitcoin could fall to around $59,000 in the near term. They attribute the risk mainly to weaker market liquidity. With investors turning more cautious and avoiding large trades, volatility and selling pressure could rise. That could soften demand and push prices lower.

Bitcoin is starting to diverge from its long-running relationship with technology shares as investors direct more capital toward artificial intelligence companies. The rotation is raising the risk that Bitcoin revisits the $60,000 level.

The digital asset market faced heavy selling pressure on June 23, 2026, causing Bitcoin (BTC) to drop more than 3% to hover around the $62,500 pivot zone. The benchmark cryptocurrency extended its multi-week range-bound weakness, slipping roughly 1.93% over a 24-hour window to underperform a relatively flat altcoin market.

On-chain data indicates neither bulls nor bears have taken firm control of bitcoin’s market direction. BTC has been trading in a consolidation range, leaving the market in a holding pattern rather than a sustained bearish phase. The analysis suggests price action is stuck in limbo, with signals failing to confirm a durable uptrend.

Bitcoin is trading in a risk-off environment, but key indicators have not yet reached levels typically seen at a cycle bottom. Recent positioning shows dip buyers leaning aggressively long, raising the risk of a long squeeze. Meanwhile, stress appears concentrated among short-term holders rather than long-term holders.

President Donald Trump signed two executive orders at the White House on June 22. One order targets delivering a scientifically relevant quantum computer by 2028.