Bitcoin continues to face intense selling pressure, with the asset falling below the key $60,000 support level as broader market sentiment weakens.
The latest drop follows Bitcoin’s rejection near $67,200 at the start of last week, a move that triggered continued downside momentum and left bulls struggling to regain control.
Just over a week ago, sentiment across the crypto market was considerably more optimistic. Investors were encouraged after U.S. President Donald Trump suggested a potential agreement with Iran could be finalized by June 19.
That optimism quickly faded as no agreement materialized. Instead, tensions between both sides escalated again, with renewed threats of further conflict over the weekend.
At the same time, continued net outflows from spot Bitcoin exchange traded funds have added further pressure, signaling persistent weakness in institutional demand.
Growing Concerns Around Strategy
A major source of concern in the current market revolves around Strategy and its financial position.
Fear surrounding the company has intensified as its STRC shares remain below their $100 target value. Market uncertainty around the largest corporate holder of Bitcoin continues to grow.
Some analysts believe Strategy may eventually need to sell at least 50,000 BTC over the coming years, while others have urged the company to pause further Bitcoin purchases until its financial position improves.
In response to these concerns, Strategy has already shifted toward smaller Bitcoin purchases while focusing on rebuilding its US dollar reserves.
Meanwhile, the company’s main stock, MSTR, has suffered a sharp decline, falling 10 percent in a single day to around $93 at the time of writing. This marks its lowest level in two years.
The broader crypto market has also followed Bitcoin lower, with most major altcoins recording losses.
According to market data from Coinglass, total liquidations across crypto derivatives markets have surged to approximately $650 million as bearish momentum accelerates.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
