Bitcoin has decreased by 3.4% in the past 24 hours, falling below $71,000, marking its lowest point in several weeks, following Strategy's recent 8-K filing revealing its first public bitcoin sale.
By Shaurya Malwa Jun 2, 2026, 5:09 a.m. 2 min readMake preferred onKey Points:
- Bitcoin dipped below $71,000, continuing a downward trend as the market reacted to Strategy's initial bitcoin sale and broader risk assets remained stable near record levels.
- Strategy sold 32 bitcoins for $2.5 million to support preferred stock distributions, an action viewed as symbolically significant despite being minor in relation to the company's total holdings.
- With bitcoin ETF inflows still negative and no clear bullish indicators present, bitcoin is at its lowest price in weeks, even as some tokens like Hyperliquid’s HYPE see gains.
Bitcoin BTC$70,191.13 continued its decline below the $71,000 mark early Tuesday morning in Asia, reflecting a 3.4% drop in the last 24 hours and a 7.5% decrease over the week, impacted by the aftermath of Strategy's bitcoin sale while stock markets remained at record highs and oil prices increased amid stalled U.S.-Iran ceasefire discussions.
By Tuesday morning, BTC was around $70,830, with a trading range of $70,120 to $73,458, according to CoinDesk data. Ether (ETH) was just under $2,000 at $1,996, while DOGE$0.09931 remained stable at $0.10, XRP dropped 3% to $1.28, and Solana's SOL fell 1.7% to $80.47.
Strategy (MSTR), the largest corporate bitcoin holder, disclosed in its Monday 8-K filing that it had sold 32 bitcoins for $2.5 million at an average price of $77,135, with proceeds intended for preferred stock distributions. This marked the firm's first public bitcoin sale since it began acquiring the asset five years ago.
CoinDesk extensively reported on this sale on Monday, detailing the broader funding context and the subsequent resolution on Polymarket regarding a $14 million market that debated the timing of the sale.
Stocks have seen a slight pullback from their all-time highs as investors took profits from the AI-driven rally of the year, according to Bloomberg.
The MSCI Asia-Pacific equity index decreased by 0.5%, with South Korea's Kospi dropping 1.8% after a remarkable 105% rise this year. Futures for the Nasdaq 100 fell 0.7%, while Chinese tech stocks, particularly Tencent (0700), surged by 7.5%.
Brent crude prices eased slightly but remained around $94.40 a barrel amid ongoing U.S.-Iran negotiations, and Treasury bonds retained losses from the previous session due to concerns that rising energy prices could compel the Federal Reserve to maintain higher interest rates for an extended period. Iran announced it would cease communication with Washington, as reported by Tasnim news agency.
Hyperliquid's HYPE token stood out among the top 10 by market cap, rising 24.3% over the past week to $73.76, even while bitcoin and ether faced declines.
Bitcoin is now at its lowest level in weeks, with no apparent short-term catalyst for a rebound as ETF demand continues to be negative and Strategy's status as a seller looms large.
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Strategy sold bitcoin in late May, and told the market in June. Here's how Polymarket bettors are fighting over when it counts.
By Sam Reynolds, AI Boost|Edited by Shaurya Malwa59 minutes agoA $79 million market hinges not on whether Michael Saylor's firm sold bitcoin, but on whether a sale disclosed June 1 can count toward a deadline that passed May 31.
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- A $79 million Polymarket bet on whether Strategy (MSTR) sold bitcoin by May 31 hinges on whether the contract is governed by the date of the sale itself or the later date of its public disclosure.
- One camp argues the market is event-based and should resolve “Yes” because Strategy’s own...