Bitcoin experienced a significant downturn on June 5, falling below the $60,000 mark, a move that intensified a sell-off that began after Strategy’s unexpected announcement earlier in the week about a partial sale of its Bitcoin assets. This disclosure, made on June 1, shocked the markets and contributed to an already unstable sentiment within the cryptocurrency sector.
The last few months have been tumultuous for Bitcoin, which reached an all-time high of $126,080 on October 6, 2025, only to face a steep decline following a flash crash on October 10. Since that incident, Bitcoin’s price has remained largely stagnant, oscillating within a $65,000–$80,000 range that has tested the resolve of investors.
The current market conditions are exacerbated by significant outflows from U.S. spot Bitcoin exchange-traded funds (ETFs), which saw net withdrawals of $2.43 billion in May alone. As of early June, investors have already pulled out an additional $1.40 billion, according to recent data from SoSoValue.
Strategy’s June 1 announcement revealed that it sold 32 Bitcoin for about $2.5 million between May 26 and May 31. This marked the company’s first Bitcoin sale since 2022, reducing its holdings to 843,706 BTC. The timing of the announcement, coupled with previous indications from Strategy’s leadership about potential sales, has unsettled the market further.
The last occasion Bitcoin traded below $60,000 was in October 2024, prior to a series of pro-crypto announcements from then-President Donald Trump that spurred a bullish rally. This latest decline represents a significant moment, marking the first time Bitcoin has dipped below this threshold in 20 months.
At its lowest during the recent sell-off, Bitcoin hit $59,743, but subsequently registered a slight recovery, trading at approximately $60,782 at the time of this report. The ongoing volatility continues to pose challenges for traders and investors navigating the uncertain landscape of cryptocurrency markets.
