Bitcoin fell below $60,000 on June 5 for the first time since October 2024, extending a sell-off that has erased all gains made since US President Donald Trump’s election victory. The decline followed Strategy’s first Bitcoin sale since 2022,

Strategy's sale of Bitcoin just disrupted its long streak of only purchasing it.

Bitcoin plunged over 15% in a week, erasing post‑election gains and hitting younger crypto investors hardest.

Amidst the crypto market crash, Standard Chartered sent a note to its client on June 4 in which the bank’s global head of digital assets research Geoffrey Kendrick doubled down on his bullish Bitcoin prediction for the end of 2026.

About $600 billion. That’s how much has been erased from the global crypto market’s aggregate market value since May 10, dropping from a high of $2.7 trillion to $2.1 trillion as of Friday, according to CoinMarketCap. Bitcoin dominates the global crypto market, accounting for roughly 58% of its market value.

More than $5.3 billion in leveraged long positions, or bullish bets on higher prices, have been liquidated across crypto derivatives markets since Monday, according to CoinGlass data. Friday alone accounted for roughly $1.4 billion of the damage as bitcoin (BTC) plunged below $60,000 and altcoins suffered even steeper losses.

Bitcoin surged in the wake of President Trump's reelection, pushing to new highs deep into 2025. Now it's down more than 50% from that peak.

Michael Saylor built Strategy Inc. around a straightforward idea: raise money to buy Bitcoin, then never sell it. Over time, that simple bet has turned far more complicated.

By Niket Nishant June 4 (Reuters) - Geoffrey Kendrick, the global head of digital assets research at Standard Chartered and one of the most vocal crypto advocates, is sticking with his call for bitcoin to hit $100,

Bitcoin's electricity use has been debated for years because the network runs on proof-of-work mining.

Bitcoin fell back below $60,000 on June 5, deepening a sell-off that picked up pace after a surprise disclosure from Strategy about a partial sale of its Bitcoin holdings earlier