Bitcoin nearly broke this week, then macro gave it a way back.
The largest crypto opened near $73,000 last Sunday, slid below $60,000 for the first time since the U.S. election in November 2024, and recovered to about $63,500 by Saturday, according to CoinDesk data. It remains roughly 50% below its October 2025 record near $126,000.
The move pushed bitcoin fell into a valuation zone usually seen near bear-market bottoms, but it never produced the kind of panic flush that normally confirms one.
A catalyst for the slide came from Michael Saylor’s Strategy, the largest corporate bitcoin holder, which disclosed on June 1 that it sold 32 $BTC for about $2.5 million between May 26 and May 31 to fund dividends on its STRC preferred shares. The sale was tiny compared with the company’s roughly 845,000 $BTC pile, about 4% of total bitcoin supply.
Saylor had spent years making “never sell bitcoin” the center of Strategy’s identity. So when the company sold even 32 coins, traders treated it less as a balance-sheet event and more as a change in behavior.
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