- Bitcoin dropped to $59,101 on Friday — a 7% single-day slide and its first breach of $60,000 since Donald Trump won the White House in 2024 — before recovering 3.8% to around $63,400 in Monday trading.
- Strategy Inc. disclosed a small Bitcoin sale last week — its first since 2022 — rattling confidence in the company’s “hold forever” model and contributing to an 18% weekly loss for the token.
- Chairman Michael Saylor hinted at further Bitcoin purchases over the weekend via social media, helping steady the market; Strategy’s expected Monday 8-K SEC filing will clarify the company’s recent activity.
- Bitcoin has lost roughly half its value since peaking above $126,000 in October 2025, with the decline driven by ETF outflows, geopolitical uncertainty, and growing doubts about digital-asset treasury firms’ long-term viability.
What Happened?
Bitcoin fell below $60,000 for the first time since Trump’s November 2024 election win, touching $59,101 on Friday after a 7% single-session drop. The selloff was compounded by Strategy Inc.’s disclosure of a small Bitcoin sale — its first since 2022 — which undermined confidence in the firm’s signature model of accumulating and holding Bitcoin indefinitely. Over the course of last week, Bitcoin lost roughly 18% of its value. On Monday, the token recovered, climbing as much as 3.8% to near $64,200 before settling around $63,400. Ether rose 5.6% to roughly $1,720. Michael Saylor’s weekend social media post hinting at additional purchases helped soothe trader nerves, as did news of Israel’s retaliatory strike on Iran, which paradoxically eased some pressure on risk assets after initial fears of broader escalation.
Why It Matters?
The $60,000 threshold carries psychological weight as a level Bitcoin had held since the 2024 U.S. election re-energized crypto markets. Its breach — combined with Strategy’s first Bitcoin sale in four years — sent a signal that even the market’s most committed institutional buyer is not immune to liquidity pressure. Bitcoin has now lost approximately half its value from its October 2025 peak above $126,000. Analysts described sentiment as “incredibly shaky,” with institutional investors like DACM raising cash to multi-year highs. The ongoing convergence of ETF outflows, geopolitical turbulence, and questions about digital-asset treasury firms makes the current recovery fragile.
What’s Next?
All eyes are on Strategy’s Monday 8-K SEC filing, which will reveal whether the company made any Bitcoin purchases last week following its disclosure of the small sale. Saylor’s hint at buying could deliver a sentiment boost if confirmed. Broader macro conditions — particularly developments in the Middle East war and U.S. rate expectations — will continue to drive near-term crypto direction. Analysts note that Bitcoin’s relatively muted reaction compared to equities during the latest market selloff may reflect a positioning dynamic: stocks had more built-up exposure to unwind.
Source: Bloomberg
