{"id":174518,"date":"2026-06-04T02:21:50","date_gmt":"2026-06-04T02:21:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=174518"},"modified":"2026-06-04T02:21:50","modified_gmt":"2026-06-04T02:21:50","slug":"bitcoin-price-plunges-below-62000-erasing-months-of-recovery-as-sell-off-accelerates","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=174518","title":{"rendered":"Bitcoin Price Plunges Below $62,000, Erasing Months of Recovery as Sell-Off Accelerates"},"content":{"rendered":"

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

Bitcoin Price Plunges Below $62,000, Erasing Months of Recovery as Sell-Off Accelerates<\/a><\/p>\n

<\/div>\n

Bitcoin price has tumbled to its lowest level in months Wednesday night, crashing below<\/a> $62,000 and wiping out a sharp intraday loss of more than $5,300\u00a0 \u2014 a decline of nearly 8% in 24 hours \u2014 as a perfect storm of institutional exodus, leverage liquidations, geopolitical fear, and a symbolic but jarring sale by Michael Saylor\u2019s Strategy converged to shatter market confidence.<\/p>\n

At approximately 10:00 PM EDT, Bitcoin price was changing hands at $61,463.22, down from a 24-hour high of $67,416.50 and dangerously close to the psychologically critical $60,000 floor. The selloff erased weeks of tentative recovery and put the world\u2019s largest cryptocurrency nearly 51% below its all-time high<\/a> of $126,277, set in October 2025.<\/p>\n

The catalyst that many analysts believe broke the market\u2019s will was a Monday SEC filing from Strategy revealing that the firm sold<\/a> 32 Bitcoin between May 26 and May 31, generating approximately $2.5 million at an average price of $77,135 per coin.\u00a0<\/p>\n

While negligible relative to Strategy\u2019s holdings of more than 818,000 BTC, the transaction represented the company\u2019s first disclosed net reduction of its Bitcoin position in years \u2014 a jarring break from co-founder Michael Saylor\u2019s long-standing \u201cnever sell\u201d doctrine.<\/p>\n

The move was intended to fund dividend obligations on its STRC preferred shares, which carry an annual variable dividend of 11.5%. Still, the market reacted viscerally. Bitcoin price immediately fell below $72,000 following the announcement, and Strategy\u2019s own stock dropped nearly 6% the same day.\u00a0<\/p>\n

Today, STRC traded hands around $94.<\/p>\n

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JUST IN: Bitcoin falls to $61,655 pic.twitter.com\/al7XpApKvN<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) June 4, 2026<\/a>\n<\/p><\/div>\n

Bitcoin price craters as BTC ETFs continue outflows<\/h2>\n

U.S. spot Bitcoin ETFs recorded an 11-to-12 consecutive day streak of net outflows, the longest run since the products launched, with total withdrawals reaching approximately $3.45 billion across that period. The week ending May 29 alone saw<\/a> $1.42 billion in net outflows, marking the third-largest weekly withdrawal on record.<\/p>\n

For the full month of May, cumulative spot Bitcoin ETF outflows reached<\/a> $2.30 billion \u2014 the worst single month of 2026 \u2014 even as Bitcoin\u2019s price only fell 3.69% in that time, suggesting institutions were quietly derisking at a pace far ahead of what price action alone implied.<\/p>\n

Beyond crypto-specific factors, Bitcoin price has been whipsawed by a deteriorating macroeconomic backdrop. Escalating U.S.-Iran tensions \u2014 including<\/a> military flare-ups in the Middle East \u2014 have driven investors toward safety, triggering a risk-off move that has hammered high-volatility assets across the board.\u00a0<\/p>\n

Adding to the bearish picture is the gravitational pull of the artificial intelligence boom. Capital that might have once flowed into Bitcoin is increasingly chasing AI-linked equities, with the impending<\/a> IPOs of OpenAI and SpaceX diverting speculative interest.\u00a0<\/p>\n

Source: https:\/\/bitbo.io\/<\/p>\n

This post Bitcoin Price Plunges Below $62,000, Erasing Months of Recovery as Sell-Off Accelerates<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bitcoin Price Plunges Below $62,000, Erasing Months of Recovery as Sell-Off Accelerates Bitcoin price has tumbled to its lowest level in months Wednesday night, crashing below $62,000 and wiping out a sharp intraday loss of more than $5,300\u00a0 \u2014 a decline of nearly 8% in 24 hours \u2014 as a perfect storm of […]<\/p>\n","protected":false},"author":0,"featured_media":174519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-174518","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\/174518"}],"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=174518"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/174518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/174519"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=174518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=174518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=174518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}