Bitcoin extended its sell-off in early June, sliding toward $65,000 and marking its lowest level since late March. Market sentiment remained under pressure, weighed down by Strategy’s recent Bitcoin sale and a broader institutional rotation toward artificial intelligence investments at the expense of digital assets. Strategy disclosed the sale of approximately $2.5 million worth of Bitcoin—its first divestment since late 2022—signaling a symbolic break from its longstanding accumulation strategy.
Investor confidence was further dented by persistent ETF outflows. US spot Bitcoin ETFs posted net redemptions for 11 consecutive sessions, with cumulative outflows estimated at roughly $3.45–$3.5 billion. Risk appetite was also subdued by escalating tensions between the US and Iran, which dampened expectations for progress in peace negotiations. Other major cryptocurrencies, including Ether, BNB, Cardano, and Solana, traded lower as well, registering losses of up to 2%.
