{"id":174379,"date":"2026-06-03T20:20:57","date_gmt":"2026-06-03T20:20:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=174379"},"modified":"2026-06-03T20:20:57","modified_gmt":"2026-06-03T20:20:57","slug":"bitcoin-price-crashes-to-precarious-position-near-65000-as-momentum-rotates-into-ai-ipos","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=174379","title":{"rendered":"Bitcoin Price Crashes to Precarious Position Near $65,000 as Momentum Rotates Into AI, IPOs"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Bitcoin Price Crashes to Precarious Position Near $65,000 as Momentum Rotates Into AI, IPOs<\/a><\/p>\n

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Bitcoin price is holding a risky position near $65,000 Wednesday, down roughly 12% over the past seven days and trading at its lowest level since February as a broad rotation out of crypto into competing speculative trades chips away at the foundation of its recent bull run.\u00a0<\/p>\n

The world\u2019s largest cryptocurrency touched<\/a> a bitcoin price of $65,158 earlier in the session before a partial recovery, but analysts and strategists say the weakness runs deeper than any single catalyst.<\/p>\n

The most popular explanation \u2014 that Strategy\u2019s (MSTR) first bitcoin sale in four years triggered the slide \u2014 is being challenged by a growing chorus of market voices.\u00a0<\/p>\n

Charles Schwab director of digital currencies research and strategy Jim Ferraioli that the issue in simpler terms: bitcoin is losing its status as the market\u2019s dominant momentum trade.<\/p>\n

\u201cBitcoin has been in a bear market since October,\u201d Ferraioli said according to CoinDesk reporting<\/a>. \u201cThere\u2019s a lack of a reason to be buying here when there\u2019s other things you can choose.\u201d<\/p>\n

A broader sentiment in the bitcoin space is that the asset class is facing a competition problem, not a confidence problem.\u00a0<\/p>\n

Capital that once poured into crypto in search of high-octane returns is rotating toward artificial intelligence stocks, gold, and a wave of high-profile IPOs from private tech firms including SpaceX<\/a>, OpenAI, and Anthropic.\u00a0<\/p>\n

Those offerings represent some of the most anticipated market events of the year, and investors appear to be freeing up liquidity to participate.<\/p>\n

Wall Street bank Citi reinforced<\/a> a similar structural concern Wednesday. Analyst Alex Saunders estimated that spot bitcoin ETF flows account for roughly 45% of weekly BTC price variation \u2014 the clearest real-time gauge of investor demand.<\/p>\n

Those flows have turned negative. Saunders also flagged diminishing prospects for the Clarity Act, a U.S. crypto market structure bill that many in the industry viewed as a potential catalyst for fresh institutional inflows.\u00a0<\/p>\n

Without that regulatory tailwind, the bank sees sentiment remaining muted.<\/p>\n

Strategy\u2019s sale of 32 BTC<\/a> for approximately $2.5 million in late May did rattle markets. The transaction marked a rare departure from Executive Chairman Michael Saylor\u2019s longstanding \u201cbuy and hold\u201d approach and sparked concern that one of bitcoin\u2019s most prominent corporate backers could shift from buyer to seller.\u00a0<\/p>\n

Strategy attributed the move to a tax-optimization plan disclosed during its first-quarter earnings call.\u00a0<\/p>\n

Citi said the sale was anticipated and does not change the firm\u2019s broader strategy. Ferraioli described it as a convenient narrative attached to a trend already underway, noting that many ETF investors sitting near breakeven are treating the current price level as an exit opportunity rather than a buying opportunity.<\/p>\n

Are the U.S. and Iran tensions causing a bitcoin price dip?<\/h2>\n

Another theory gaining traction in analyst circles points to U.S. sanctions on Iran\u2019s digital asset ecosystem as a source of persistent selling pressure.\u00a0<\/p>\n

Treasury Secretary Scott Bessent announced the freezing of more than $1 billion in Iranian crypto assets last week, and the U.S. sanctioned<\/a> Nobitex, Iran\u2019s largest crypto exchange, on Tuesday for alleged ties to the Islamic Revolutionary Guard Corps.\u00a0<\/p>\n

From a technical standpoint, the bitcoin price at $65,000 level is critical. This level is a test of year-to-date lows around $60,000. Bitcoin Magazine Pro<\/em> data points to an initial support in the $63,000\u2013$64,000 bitcoin price range, where bids emerged in February and March, with a bitcoin price of $60,000 representing the next major psychological floor and $58,000 beyond that.<\/p>\n

This marks the third test of bitcoin price\u2019s February 6 panic low. The prior two \u2014 on February 24 and March 29 \u2014 produced sharp recoveries<\/a> above $70,000. Seasonal weakness, historically concentrated in summer months, gives bulls little immediate help.\u00a0<\/p>\n

With AI assets outperforming, IPO pipelines absorbing speculative capital, and legislative catalysts receding, bitcoin\u2019s path back to momentum-driven price discovery depends on investor attention returning \u2014 and right now, that attention is pointed elsewhere.<\/p>\n

At the time of writing the bitcoin price is near $65,300. <\/p>\n

This post Bitcoin Price Crashes to Precarious Position Near $65,000 as Momentum Rotates Into AI, IPOs<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bitcoin Price Crashes to Precarious Position Near $65,000 as Momentum Rotates Into AI, IPOs Bitcoin price is holding a risky position near $65,000 Wednesday, down roughly 12% over the past seven days and trading at its lowest level since February as a broad rotation out of crypto into competing speculative trades chips away […]<\/p>\n","protected":false},"author":0,"featured_media":174380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-174379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/174379"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=174379"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/174379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/174380"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=174379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=174379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=174379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}