This Week in Crypto: MicroStrategy’s Bitcoin Fears Fade, $500M Claude Bill, Thiel Stock Halves
Crypto and its neighboring markets spent the week separating conviction from hype. Bitcoin (BTC) shook off sell-off fears and pushed its long-term floor higher, even as a $500 million AI bill and a 50% stock crash showed how fast unbacked bets unravel.
That split ran through the week's biggest names. SpaceX banked a $2.29 billion defense win, and Bitcoin holders bought weakness, while a runaway AI tab and a Las Vegas sports flop supplied the cautionary half.
MicroStrategy Reversal Cools Bitcoin Sell-Off Fears
Bitcoin trades near $73,600 after a week that tested nerves more than support. MicroStrategy, the largest corporate holder, withdrew 411.5 BTC worth about $30 million from Coinbase Prime hours after depositing it.
The deposit was its first direct exchange move in nearly two years. The round trip eased fears that Michael Saylor was lining up a sale. Prediction-market odds of a 2026 sale eased but stayed high.
The firm still holds 843,738 BTC and has bought none since May 18. Tom Lee's BitMine bought the weakness too, adding 25,000 ether (ETH) for $50.6 million.
Bitcoin's 200-Week Floor Climbs Past $61,000
The structural picture looks steadier than the price. Bitcoin's 200-week moving average has climbed past $61,000, up from $60,000 in early May.
Blockstream CEO Adam Back flagged the move on May 30 as a long-term bull signal. The average smooths nearly four years of weekly closes and has marked every prior cycle bottom.
Only the 2022 bear market saw a weekly close below it. With BTC near $73,600, the spot price sits roughly $12,600 above that rising floor. Back paired the chart with a discipline argument borrowed from the late Charlie Munger.
A $500 Million Claude AI Bill Lands in One Month
The fallout from the week's biggest AI bill is still spreading. An unnamed enterprise client ran up a $500 million charge on Anthropic's Claude AI in a single month, Axios reported.
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