The price of Bitcoin fell to its lowest level in months on Wednesday night, shattering less $62,000 and erasing a sharp intraday loss of over $5,300 – a roughly 8% drop in 24 hours – as a perfect storm of institutional exodus, leverage divestment, geopolitical fear, and the symbolic but blatant sell-off of Michael Saylor’s strategy converged to shatter market confidence.
At approximately 10:00 PM EST, Bitcoin was trading at $61,463.22, down from a 24-hour high of $67,416.50 and dangerously close to the critical psychological limit of $60,000. The sell-off erased weeks of initial recovery and put the world’s largest cryptocurrency about 51% below its level. Highest level ever Valued at $126,277, set for October 2025.
The catalyst that many analysts believe broke the market’s will was Monday’s SEC filing from Strategy revealing that the company… Sold 32 Bitcoin between May 26 and 31, generating nearly $2.5 million at an average price of $77,135 per coin.
Although insignificant compared to Strategy’s holdings of more than 818,000 Bitcoin, the deal represents the company’s first disclosed net reduction in its Bitcoin position in years — a stark departure from co-founder Michael Saylor’s “never sell” principle.
The move was intended to fund the dividend obligations on its STRC preferred shares, which carry a variable annual dividend of 11.5%. However, the market reaction was sharp. Bitcoin’s price immediately fell below $72,000 after the announcement, and Strategy’s own stock fell nearly 6% on the same day.
STRC stock was trading today at around $94.
Digging into Bitcoin Prices as Bitcoin ETFs Continue Outflow
U.S. Bitcoin ETFs recorded a streak of 11 to 12 consecutive days of net outflows, the longest period since the products launched, with withdrawals totaling about $3.45 billion during that period. The week ending May 29th alone opinion $1.42 billion in net outflows, the third largest weekly withdrawal on record.
Throughout the entire month of May, cumulative outflows from Bitcoin ETFs receipt $2.30 billion — the worst single month of 2026 — even as Bitcoin’s price fell just 3.69% in that time, suggesting that institutions were quietly offloading risk at a pace far ahead of what was implied by price action alone.
Aside from cryptocurrency-specific factors, the price of Bitcoin has been exposed to a decline due to a deteriorating macroeconomic backdrop. Escalating tensions between the United States and Iran – Included Military unrest in the Middle East has pushed investors toward safety, triggering a risk-off move that has hurt highly volatile assets across the board.
Adding to the bearish picture is the attractiveness of the artificial intelligence boom. Capital that could have flowed into Bitcoin is increasingly chasing AI-related stocks, with imminent The IPOs of OpenAI and SpaceX are shifting interest to speculation.
