Share this article
Bitcoin slide to $70,000 as stocks pause and Strategy’s BTC sale weighs on crypto
BTC fell 3.4% in 24 hours to below $71,000, the lowest level in weeks, as Monday’s 8-K filing disclosing Strategy’s first publicized bitcoin sale continued to weigh.
Jun 2, 2026, 5:09 a.m. 2 min read
What to know:
- Bitcoin fell below $71,000, extending a weeklong slide as markets digested Strategy’s first disclosed bitcoin sale and broader risk assets paused near record highs.
- Strategy sold 32 bitcoins for $2.5 million to fund preferred stock distributions, a move seen as symbolically important even though it is small relative to the company’s overall holdings.
- With bitcoin ETF flows still negative and no clear bullish catalyst in sight, bitcoin is trading at its lowest level in weeks even as select tokens like Hyperliquid’s HYPE outperform.
Monday’s 8-K filing from Strategy (MSTR), the largest corporate holder of bitcoin, disclosed the company’s first publicized sale of bitcoin in the five years since it began accumulating, with 32 coins sold for $2.5 million at an average price of $77,135 and proceeds earmarked to fund preferred stock distributions.
CoinDesk covered the sale extensively on Monday, including the broader funding-stack context behind it and the resulting Polymarket resolution around a $14 million market that debates whether the sale occured in May or June.
