Strategy's First Sale Triggers Panic as Bitcoin Falls Below $70,000 Key Psychological Barrier

06/02 07:45

On June 2, Bitcoin fell below the closely watched $70,000 mark during trading, marking the first time since April 7 of this year. The news comes as Strategy disclosed its first-ever sale of Bitcoin, selling 32 BTC for $2.5 million. Industry insiders noted that Strategy's sale of 32 Bitcoins was intended to pay dividends; although the amount is not large, the shift from a long-term 'buy and hold' strategy to selling has triggered panic in the market, leading some highly leveraged long positions to stop-loss, accelerating the price decline. Additionally, geopolitical tensions in the Middle East and the upcoming U.S. non-farm payroll data have prompted Wall Street institutions to temporarily avoid risk. Current market sentiment indicators and the RSI suggest that Bitcoin prices may continue to decline, and after falling below $70,000, it could reach a low of $60,000.

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