Bitcoin experienced a significant decline, falling approximately 11.6% over the past week, according to QCP's latest market commentary. The cryptocurrency struggled to regain key momentum levels, reflecting increased market pressure. The report also noted a rise in demand for downside protection in the options market, indicating growing investor caution. Additionally, Strategy's sale of 32 BTC in late May to pay preferred stock dividends, though limited in scale, has impacted its position as a structural BTC buyer, further influencing market sentiment.