Virtual Currency Space

Bitcoin has fallen to its lowest level since February, dropping more than 25% this month, as long-term holders liquidate billions in holdings and efforts to advance US crypto regulation face uncertainty in Washington.

Bitcoin's slide deepened on Wednesday, with the price dropping as low as $61,300 for the first time since February, extending one of the most turbulent periods for the world's largest cryptocurrency this year.

Bitcoin dropped to its lowest level in nearly four months Thursday, weighed down by a combination of geopolitical anxiety, persistent institutional selling, and Strategy’s first Bitcoin sale in years.

Bitcoin fell to a near four-month low of $61,311 before trimming some of those losses, recovering to trade around $62,580.4 by 06:37 ET (10:37 GMT).

In the past two days, bitcoin's highest-conviction holders have sold about $2.4 billion in bitcoin.

Of the bitcoin sold in the past 30 days, 26% came from investors who bought it above $90,000.

"Top-buyer capitulation is a very common theme in late cycle bear markets. This makes us more confident that BTC's bear market is in late stages," said Compass Point analyst Ed Enge

Alarm bells are going off around bitcoin, with most of the headlines focusing on the biggest bitcoin treasury company's very big decision to sell a small amount of bitcoin.

Why it matters: A bitcoin sale by Michael Saylor's Strategy has drawn outsize attention, but geopolitical uncertainty and competition from stocks are posing bigger near-term risks to the cryptocurrency's price.

State of play: Some $2.8 billion left U.S.-listed spot-bitcoin ETFs in nine-straight sessions through May 28 — the longest stretch of withdrawals in the funds' two-year history, Bloomberg noted.

Since hitting an all-time high of $126,080 in October, the price of bitcoin fell over 40% through last week.

Between the lines: Analysts point to several overlapping pressures:

One is the Iran war, and investors' waning appetite for the riskiest risk assets amid soaring oil prices and fresh inflation worries.

Another is the boom in AI-related stocks, leading some institutional investors to rebalance portfolios and go even lighter on bitcoin.

In short, there have just been so many better ways to find returns, Bloomberg's Joe Weisenthal notes.

Souring Bitcoin sentiment has triggered almost $1.5 billion in crypto liquidations over the past 24 hours, as the largest digital asset sank back to a two-month low.

Bitcoin on Tuesday fell below $70,000 for the first time since April amid deteriorating market sentiment.

The price of the flagship cryptocurrency was last lower by more than 6% at $67,014.97, according to Coin Metrics. Earlier, it fell as low as $66,954.99, its lowest level since April 5. Ether declined by 4.7%, and stocks across the crypto sector were in the red as well. Strategy fell 9%, Galaxy lost 5.9% and Coinbase was down 4.7%.

Bitcoin derivatives markets flashing warning signs as price plunges below $70,000

Open interest has risen to 773,000 BTC, one of the highest readings on record, while funding rates remain elevated despite weak spot demand and growing market fear.

Defunct bitcoin exchange Mt. Gox moved 10,422.65 bitcoin worth about $739 million to new wallets on Tuesday, its largest transfer in months ahead of an October 31, 2026 repayment deadline.

The split transaction, which sent most of the coins to a previously unseen address, mirrors earlier administrative moves tied to creditor distributions, though none of the bitcoin has yet reached a custodian or exchange.

Mt. Gox still holds roughly 34,504 bitcoin valued at $2.43 billion, and any eventual payouts to the roughly 19,500 creditors—many of whom bought before the 2014 collapse—could add selling pressure to a market already under strain.

Strategy (NASDAQ: $MSTR) has sold some of its Bitcoin (CRYPTO: $BTC) holdings.

It marks the first time that the crypto treasury firm led by Executive Chairman Michael Saylor has sold any Bitcoin in four years.

A regulatory disclosure shows that Strategy sold 32 Bitcoin over the past week for proceeds of $2.5 million U.S.

On the 8-hour chart, Bitcoin slipped under a head and shoulders formation on May 28, a bearish setup of three peaks that projects a downside target near $66,800.

The selloff should have come fast. Instead it stalled.

Both green and red volume bars have shrunk since the break, and that fading interest let buyers defend the zone. The early burst of sell-side pressure quickly faded, leaving a tight range instead of the steep slide the pattern usually delivers.

That muted follow-through is the surprise. Setups like this often resolve in a quick drop, yet sellers have not pressed their advantage, and the market has settled into a holding pattern instead.

Strategy Inc. (NasdaqGS:MSTR) has moved a significant amount of its Bitcoin holdings to Coinbase, raising questions about a possible sale.

The shift comes after recent debt and equity transactions that have drawn attention to the company’s capital structure and related risks.

Industry experts are highlighting growing concerns around competing claims among equity, debt, and Bitcoin holders if the company adjusts its long standing "never sell" approach.

Bitcoin (CRYPTO: BTC) remains one of the most polarizing assets in all of markets, with strong supporters and even stronger opponents. And it continues to take investors on a wild ride.

The top cryptocurrency trades 41% below its all-time high from October last year (as of May 29). While the past eight or so months have been disappointing for the bulls, the current bear market is nothing new. The past might provide clues as to what's to come.

Bitcoin’s price fell below $74,000 on Wednesday after a sharp wave of liquidations swept through crypto markets, falling to a low of $72,000 on Thursday, with fund manager Michael Kramer warning the token could fall “much lower” as liquidity conditions tighten.

On May 18, in a regulatory filing, Strategy Inc (NASDAQ:MSTR) disclosed an update on its Bitcoin position, reporting the purchase of 24,869 BTC for roughly $2.01 billion in cash. The acquisition was executed over the period between May 11 and May 17 at an average price of $80,985 per Bitcoin. Following this transaction, the company’s total holdings rose to 843,738 BTC. The cumulative cost basis for its Bitcoin treasury was reported at approximately $63.87 billion. The update reflects the company’s continued accumulation strategy and expansion of its digital asset reserves through large-scale market purchases executed over a short trading window.

The U.S. has conducted new strikes against Iran, Reuters reported Wednesday evening. Details are sparse, but the headline was enough to send an already weak crypto market even lower.

Bitcoin has sunk to $74,300, down nearly 2% over the past 24 hours, and its weakest level in about six weeks.

Bitcoin drops to 13th largest asset as capital flees to AI and precious metals

Bitcoin’s weak 2026 performance has coincided with sharp gains in metals and semiconductor giants, raising concerns that the cryptocurrency could continue losing ground.

Bitcoin ETFs saw $334 million in net outflows on Tuesday, driven by $192 million exiting BlackRock’s IBIT.

Notably, a single investor executed a $1.3 billion trade of BlackRock’s IBIT on Tuesday.