'Fleeing' from Bitcoin

Bitcoin is experiencing a massive sell-off. Photo: Reuters .

According to Bloomberg , Bitcoin's price has fallen to its lowest level since February, when renewed clashes in the Middle East put pressure on global financial market sentiment.

The world's largest cryptocurrency at one point lost more than 5% of its value, falling below the $62,000 /BTC mark in Asian trading on the morning of June 4th, its lowest level since February 6th. This decline extends Bitcoin's difficult trading week, as the digital currency has lost approximately 16% of its value in just the past few days.

The sell-off began after Michael Saylor's Strategy Company sold approximately $2.5 million worth of Bitcoin from its massive holdings.

For many years, Strategy has been considered one of the world's largest Bitcoin buyers. The company operates on a "digital asset treasury" model, using its balance sheet to accumulate and hold Bitcoin long-term. Therefore, Strategy's stock has long been considered a key indicator of Bitcoin's performance in the stock market.

Michael Saylor's decision to sell off a portion of his Bitcoin holdings has caused concern among investors, even though the businessman had previously signaled that the company might consider selling assets in the future.

Bitcoin faces the risk of breaking through its 2026 low. Photo: CoinMarketCap.

You may also like

New developments at the auto company that previously borrowed from individuals at an 18% annual interest rate to finance its business.The Securities Commission has received and processed the application for a private placement of shares to increase the charter capital of Giai Phong Automobile. The company intends to convert debt into equity.

“Bitcoin prices fell sharply this week after Strategy broke its commitment never to sell Bitcoin. That shook market confidence,” said Josh Du, Chief Investment Officer of Animoca Brands.

According to the expert, amid rising oil prices and an increasingly tight macroeconomic environment, Bitcoin is facing the risk of losing the crucial support level of $62,000 that has been maintained since the outbreak of the conflict in Iran.

The latest downturn also highlights the growing divergence between Bitcoin and technology stocks. While many technology stock indices have repeatedly reached new highs, Bitcoin continues to weaken.

Compared to its all-time high of over $126,000 set last October, this cryptocurrency has now lost more than half its value.

Bitcoin is also being negatively impacted by geopolitical risks. The overnight airstrikes have heightened concerns about the prospects for negotiations between the US and Iran toward a temporary peace agreement.

Along with Bitcoin, Asian stock markets and US stock index futures also fell simultaneously in the morning trading session on June 4th.

Smaller-cap cryptocurrencies also faced significant selling pressure. Ether, the world's second-largest cryptocurrency, fell to its lowest level since April 2025.

According to data from CoinGlass, approximately $1.5 billion worth of bullish positions were wiped out in the past 24 hours, with nearly half of that liquidation occurring in the last four hours alone. Bitcoin led the wave of liquidations.

In other news, investors have withdrawn nearly $4 billion from US-listed spot Bitcoin ETFs over the past 12 consecutive sessions. This marks the longest losing streak since Bitcoin ETFs began trading.