Overview
- Bitcoin plunged below $60,000 in early June before recovering to the low $60,000s, marking a drop of more than 50% from its October 2025 peak.
- Strategy disclosed it sold 32 BTC between May 26 and May 31 to fund preferred‑share dividends and then filed an SEC report showing a purchase of 1,550 BTC in the following days.
- Market commentators split over cause and consequence, with Michael Saylor blaming capital rotation into AI infrastructure and firms such as Arca saying Strategy’s sale signaled a potential forced‑seller overhang.
- On‑chain data show exchange reserves near multi‑year lows and continued institutional‑size transfers, which suggests large holders are still active even as ETF outflows persist.
- Forecasters disagree on the next leg: some technical analysts point to a possible deeper low below $30,000 while others, noting greater institutional demand and ETF assets near $100 billion, expect a shallower correction.