Bitcoin Slides Toward $65,000

Bitcoin continued its sell-off, sliding toward $65,000 in early June and reaching its lowest level since late March, as sentiment remained pressured by Strategy’s Bitcoin sale and a broader shift in institutional capital toward artificial intelligence rather than digital assets. Strategy reported selling around $2.5 million worth of Bitcoin, its first divestment since late 2022, signaling a symbolic departure from its long-running accumulation approach. Investor sentiment was further pressured by sustained ETF outflows, as US spot Bitcoin ETFs recorded net redemptions for 11 consecutive sessions, totaling roughly $3.45–$3.5 billion. At the same time, risk appetite remained subdued amid renewed hostilities between the US and Iran, undermining hopes for progress in peace negotiations. Other major digital assets, including Ether, BNB, Cardano, and Solana, also traded lower, with losses of up to 2%.