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Key Takeaways:
- BTC dropped to $71,738, down 2.34% on the day.
- Iran suspended all indirect talks with the US via mediators on June 1st.
- Strategy disclosed a 32 BTC sale, with proceeds used to fund preferred stock dividends.
- 0.5 Fibonacci at $71,382 is the next critical support, now within touching distance.
- RSI at 31.05 is approaching oversold territory not seen since the February lows.
Two pieces of news landed on June 1st and neither was positive. The more significant was geopolitical. Iran’s negotiating team announced it was suspending all indirect talks and message exchanges with the United States through mediators. According to CNBC, the decision came in protest against escalating Israeli military operations in Lebanon, which Tehran views as a violation of the fragile regional ceasefire holding since April. With peace talks frozen, the geopoliti...
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