On June 4, Bitcoin briefly dropped to around $61,300, marking one of its sharpest declines in recent months. The asset later recovered part of its losses and climbed back above $64,000. The last time Bitcoin traded near these levels was in February 2026.
Bitcoin miners finally had a reason to celebrate as their revenue posted its strongest growth in four months, surpassing the $1 billion mark for the first time since January. However, the momentum has slowed dramatically as Bitcoin fell below $66,000 on Tuesday before staging only a modest recovery the following day.
Bitcoin has once again become the focus of market attention after prediction markets began assigning nearly even odds that the cryptocurrency could fall below $50,000 before the end of 2026.
Bitcoin plunged sharply below the $66,000 level after a new escalation of tensions between the United States and Iran. On Coinbase, the price of $BTC fell to as low as $65,385, marking its lowest level since late March.
Prediction market traders are increasingly betting that Bitcoin’s correction is far from over, even after the cryptocurrency dropped to around $65,000 this week amid growing pressure from ETF outflows and weakening institutional demand.
El Salvador continues to purchase one bitcoin per day despite the cryptocurrency’s price decline. Under the leadership of Nayib Bukele, who marked seven years in office on June 1, the country has accumulated more than 7,000 bitcoins.
Last week, readers were informed about the renewed flow of funds into dollar-denominated alternatives such as Tether and USD Coin (USDC) amid Bitcoin’s decline from its early-May highs above $80,000. This combination of factors served as an early warning sign of a potential full-scale risk-off move across the cryptocurrency market.
Bitcoin dropped to its lowest level in more than two months on Wednesday, extending a sharp decline after the largest corporate holder of cryptocurrency — Strategy — sold part of its holdings, which the market interpreted as a bearish signal.
Bitcoin experienced a sharp decline in early June 2026, tumbling more than 6% in 24 hours to an intraday low of $66,948.
At the beginning of June, flows into cryptocurrency exchange-traded funds (ETFs) showed a defensive trend: Bitcoin-focused funds lost nearly half a billion dollars, while Ethereum-based products extended their outflow streak to 15 trading days. At the same time, $XRP and $HYPE ETFs once again attracted fresh capital, indicating that investors are still making selective bets beyond the largest crypto assets.
Strategy's sale of 32 $BTC turned a relatively small transaction into a significant test for corporate Bitcoin treasuries. The question is no longer whether public companies hold $BTC. Investors are now watching how these companies meet their cash obligations while attempting to maintain their Bitcoin positions.
Bitcoin’s drop toward the $68,000 level on Tuesday was driven by a sharp outflow from risk assets, triggered by a combination of ETF redemptions, a rare Bitcoin sale by Strategy, and a broad wave of derivatives liquidations.
Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, stated that Strategy’s recent Bitcoin sale may signal the beginning of a new period of Ethereum strengthening relative to Bitcoin.
As investors’ expectations for a new short-term bullish trend in Bitcoin continue to weaken, the leading cryptocurrency BTC intensified negative market sentiment with its sharp decline over the past 24 hours.
After Bitcoin (BTC) surpassed the $82,000 mark during the first week of May, it once again entered a downward trend. As Bitcoin continues to trade below the $70,000 level, investors are questioning whether the local low of $60,000, recorded in February, will be tested again.
The leading cryptocurrency, Bitcoin ($BTC), has fallen below $70,000 following a downward trend over recent weeks and yesterday's sell-off by institutional investors. As BTC dropped below $70,000 for the first time since April, the percentage of investors holding their coins at a loss also increased.
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