Bitcoin Slumps Amid Weak Institutional Demand and Strait of Hormuz Fears

The crypto market is under pressure following recent events. Bitcoin has been trading at a discount to global BTC/USDT pairs, and there have been $2.1 billion in ETF outflows in June.

Strategy's STRC stock is also showing weakness, with concerns over monthly dividend obligations and share dilution. The company offers an 11.5% yield but has less room to pay its cash dividends, forcing it to issue more shares or reduce its USD cash reserves.

The US market was down after President Trump said the Iran deal was not final, and investors fear that oil flows through the Strait of Hormuz will be disrupted. This could add pressure on inflation and the stock market.