{"id":186446,"date":"2026-06-24T14:09:00","date_gmt":"2026-06-24T14:09:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=186446"},"modified":"2026-06-24T14:09:00","modified_gmt":"2026-06-24T14:09:00","slug":"bitcoin-price-crashes-toward-61000-as-bloodbath-engulfs-crypto-stocks","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=186446","title":{"rendered":"Bitcoin Price Crashes Toward $61,000 as Bloodbath Engulfs Crypto Stocks"},"content":{"rendered":"

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

Bitcoin Price Crashes Toward $61,000 as Bloodbath Engulfs Crypto Stocks<\/a><\/p>\n

<\/div>\n

Bitcoin price is trading near $61,500 today, extending a decline that has erased more than half its value since the token hit a record high<\/a> in October 2025. The sell-off is rippling through publicly traded crypto companies, where losses have at times outpaced Bitcoin itself.<\/p>\n

The token fell to $61,877 earlier this week \u2014 its lowest level since June 11 \u2014 before sliding further. Bitcoin price briefly broke below $60,000 on June 5, a level not seen since late 2024, before a partial recovery that has since stalled.<\/p>\n

Deutsche Bank attributed Bitcoin\u2019s weakness to a convergence of institutional pressures. A shift in Federal Reserve expectations \u2014 the bank now forecasts two rate hikes in 2026, reversing earlier expectations for cuts \u2014 has removed a key pillar of institutional demand. Higher rates make risk assets less attractive relative to cash and bonds.<\/p>\n

Spot Bitcoin ETFs have seen six consecutive weeks of net outflows totaling roughly $6 billion, with $2.4 billion leaving in June alone. Deutsche Bank analyst Marion Laboure described<\/a> Bitcoin as \u201cincreasingly trading like an institutional risk asset,\u201d with the marginal buyer now an ETF allocator or corporate treasury rather than a retail participant. When those buyers exit, the price follows.<\/p>\n

Competition from artificial intelligence has added pressure. U.S. tech giants are on track<\/a> to spend more than $700 billion on AI infrastructure in 2026, and investors are treating Bitcoin and AI-linked equities as competing destinations for speculative capital. A tech stock sell-off that began Monday pulled Bitcoin price lower in tandem, with the Nasdaq 100 falling as much as 3.4%.<\/p>\n

Blood in the streets for the bitcoin price and for crypto stocks<\/h2>\n

The pain has been acute for companies that built their business models around Bitcoin accumulation.<\/p>\n

Strategy, the largest corporate Bitcoin holder, has fallen for five consecutive trading sessions and is down more than 20% over the past week.\u00a0<\/p>\n

The stock is off 26% over the past 30 days. A major catalyst came in late May when Strategy sold<\/a> 32 BTC for approximately $2.5 million \u2014 its first Bitcoin sale since 2022 \u2014 to cover distributions on its preferred stock. The move shattered the company\u2019s \u201cbuy only, never sell\u201d identity and spooked investors.\u00a0<\/p>\n

Strategy carries five series of preferred stock with combined annual dividend obligations estimated at $750\u2013$800 million, and its cash reserves have fallen from $2.25 billion at the start of 2026 to around $900 million.<\/p>\n

Strive, the Bitcoin treasury company backed by Vivek Ramaswamy, has also taken a hit. The company purchased<\/a> 2,500 BTC for $185 million at an average price of $74,092 \u2014 well above current levels \u2014 leaving it sitting on paper losses. Shares of Strive (ASST) dropped after the purchase was disclosed, a sign that investors are skeptical of aggressive accumulation strategies at elevated cost bases.\u00a0<\/p>\n

Strive now holds roughly 19,864 BTC valued at approximately $1.3 billion, and like Strategy, carries preferred dividend obligations that must be paid regardless of where Bitcoin price trades.<\/p>\n

Coinbase fell 2.5% on Tuesday. Stablecoin issuer Circle dropped more than 4%.<\/p>\n

At the time of writing, the bitcoin price is $61,205.<\/p>\n

This post Bitcoin Price Crashes Toward $61,000 as Bloodbath Engulfs Crypto Stocks<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bitcoin Price Crashes Toward $61,000 as Bloodbath Engulfs Crypto Stocks Bitcoin price is trading near $61,500 today, extending a decline that has erased more than half its value since the token hit a record high in October 2025. The sell-off is rippling through publicly traded crypto companies, where losses have at times outpaced […]<\/p>\n","protected":false},"author":0,"featured_media":186447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-186446","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\/186446"}],"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=186446"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/186446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/186447"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=186446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=186446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=186446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}