Strategy's sale essentially de

DZJ1976

Strategy's sale essentially demonstrated that it's remaining bitcoin is not an asset. As soon as it sells even a tiny amount, the price crashes. Strategy is the market.

Bitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":571710500816336,"tweetId":"571710500816336","gmtCreate":1780600408878,"gmtModify":1780609133137,"author":{"id":3577722120895602,"idStr":"3577722120895602","authorId":3577722120895602,"authorIdStr":"3577722120895602","name":"DZJ1976","avatar":"https://static.tigerbbs.com/f0cb3bd8146604a31cbb6b27cf53752e","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":26,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","html":"<html><head></head><body>Strategy's sale essentially demonstrated that it's remaining bitcoin is not an asset. As soon as it sells even a tiny amount, the price crashes. Strategy is the market.&nbsp;</body></html>","htmlText":"<html><head></head><body>Strategy's sale essentially demonstrated that it's remaining bitcoin is not an asset. As soon as it sells even a tiny amount, the price crashes. Strategy is the market.&nbsp;</body></html>","text":"Strategy's sale essentially demonstrated that it's remaining bitcoin is not an asset. As soon as it sells even a tiny amount, the price crashes. Strategy is the market.","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/571710500816336","repostId":2641161783,"repostType":2,"repost":{"id":"2641161783","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1780598040,"share":"https://ttm.financial/m/news/2641161783?lang=en_US&edition=fundamental","pubTime":"2026-06-05 02:34","market":"sg","language":"en","title":"Bitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.","url":"https://stock-news.laohu8.com/highlight/detail?id=2641161783","media":"Dow Jones","summary":"Bitcoin is mired in a nasty bear market, and as of Thursday was trading at its weakest level since February. Bitcoin on Thursday fell to its lowest level since February.While U.S. stocks have kept notching record highs, bitcoin is sliding to its weakest level in months, leaving some investors wondering what they had gotten themselves into.Bitcoin slumped as low as $61,348 on Thursday, its lowest level since February. U.S. spot bitcoin ETFs have posted 12 straight days of outflows, the longest streak since the products began trading in January 2024, according to Dow Jones Market Data. Investors have pulled $3.97 billion from the funds over that stretch, the second-largest 12-day outflow on record.The selloff is raising uncomfortable questions for investors, beyond how quickly it might take for crypto prices to recover. It is testing many long-held theories about bitcoin's place in the broader universe of tradeable assets. Some are wondering why bitcoin is struggling while semiconductor","content":"\n\nMW Bitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.\n\n\n By Frances Yue \n\n\n Bitcoin is mired in a nasty bear market, and as of Thursday was trading at its weakest level since February \n\n\n Bitcoin on Thursday fell to its lowest level since February. \n\n\n While U.S. stocks have kept notching record highs, bitcoin is sliding to its weakest level in months, leaving some investors wondering what they had gotten themselves into. \n\n\n Bitcoin (BTCUSD) slumped as low as $61,348 on Thursday, its lowest level since February. U.S. spot bitcoin ETFs have posted 12 straight days of outflows, the longest streak since the products began trading in January 2024, according to Dow Jones Market Data. Investors have pulled $3.97 billion from the funds over that stretch, the second-largest 12-day outflow on record. \n\n\n The selloff is raising uncomfortable questions for investors, beyond how quickly it might take for crypto prices to recover. It is testing many long-held theories about bitcoin's place in the broader universe of tradeable assets. Some are wondering why bitcoin is struggling while semiconductor stocks and other AI-linked names have been swept up in a powerful momentum-driven rally. And as price pressures have started to accelerate once again, bitcoin is proving that it isn't much of an inflation hedge, despite its reputation. \n\n\n That has left the pioneering cryptocurrency in an awkward position. The speculative trade that powered bitcoin higher has clearly cooled, but the current despair may also be part of the late-stage bear-market process that has preceded past recoveries, analysts said. \n\n\n \"For those investors that were buying this as a lottery ticket or a way to get your outsized investment returns, it's going to be a while before we get there,\" said Mark Hackett, chief market strategist for Nationwide's Investment Management Group. \n\n\n On social-media platforms like X, some investors have loudly proclaimed that after years of serving as the dominant cryptocurrency, bitcoin might finally be lurching toward irrelevance. \n\n\n Investors have seen this pattern before. Every time a major bitcoin bear market arrives, there is an inevitable rush of grave dancing by crypto bulls and skeptics alike. \n\n\n But investors should avoid jumping to conclusions, and not only because those who have prognosticated bitcoin's demise have been wrong in the past. \n\n\n Why bitcoin has tumbled \n\n\n The investment case for holding bitcoin with the hope of broader sovereign adoption, or as an insurance policy against some extreme outcome, remains intact, Hackett said. \n\n\n Still, \"the disappointing thing here is bitcoin hasn't acted the way that it was put out,\" he noted. \"If you've seen inflation do what it's done, and oil prices (CL00) (BRN00) and geopolitical uncertainty and government spending, this is the time that bitcoin is supposed to be shining.\" \n\n\n Meanwhile, the retail investors who once chased bitcoin higher have shifted their attention to other areas of the market, including artificial intelligence and potential initial public offerings from AI-related companies, according to Ryan Rasmussen, head of research at crypto asset manager Bitwise Asset Management. \n\n\n \"It's no secret that AI dominates every headline right now, as AI-related stocks are showing really strong performance and absorbing all that attention and capital from the crypto market,\" Rasmussen said. \n\n\n That rotation has helped deepen the pressure on bitcoin, according to Jim Ferraioli, head of digital, technical and commodities research at the Schwab Center for Financial Research. Crypto investors tend to chase momentum, he noted: When crypto is working, they add exposure; when it is not, they look elsewhere. \n\n\n \"I think people are selling what's out of favor right now to position for or add to what is working,\" Ferraioli said. \n\n\n Adding to the pressure is <a href=\"https://laohu8.com/S/MSTR\">Strategy</a>'s (MSTR) rare recent sale of bitcoin. The company said Monday that it sold 32 bitcoins between May 26 and May 31 for about $2.5 million. While the sale was tiny compared with <a href=\"https://laohu8.com/S/STRF\">Strategy</a>'s remaining holdings of 843,706 bitcoins, it landed hard symbolically. Strategy has been one of the market's most visible bitcoin buyers, while Michael Saylor, the company's executive chair, has long been an advocate of holding bitcoin through almost any market condition. \n\n\n However, analysts said the company does not appear to be in imminent danger of liquidating its bitcoin holdings. The sale has been seen more as a signal of shifting sentiment than as evidence of financial distress at Strategy. \n\n\n What's next? \n\n\n Bitcoin may be nearing an important support level in the low $60,000s, according to Schwab's Ferraioli. \n\n\n For one, the most efficient miners can still produce bitcoin at costs in the low $60,000s, creating a potential fundamental floor. Meanwhile, bitcoin's 200-week moving average, a technical level closely watched in growth assets, is also around $61,000. \n\n\n Those metrics have historically been associated with bottoms in past crypto bear markets, Ferraioli said. However, he cautioned that bitcoin's price and mining costs can influence each other if prices fall far enough to force miners to temporarily shut down operations. \n\n\n In any case, Ferraioli does not expect bitcoin to quickly return to records. \n\n\n Instead, 2026 is more likely to be a recovery year, he said, with investors needing time and a sustained improvement in momentum before they return in force. Summer has historically been a weaker period for bitcoin, while October, November and December have tended to be stronger months, creating the possibility of a better setup later in the year, he noted. \n\n\n Regulation could also help if the timing lines up. Ferraioli pointed to the Clarity Act, a digital-asset market-structure bill being worked on in the U.S. Senate, as a possible catalyst if it advances. Its passage could help restore investor confidence in the second half of the year, particularly if it arrives as bitcoin's seasonal backdrop becomes more favorable. \n\n\n -Frances Yue \n\n\n This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n<pre style=\"white-space: pre\">\n \n</pre>\n\n (END) Dow Jones Newswires\n\n\n June 04, 2026 14:34 ET (18:34 GMT)\n\n\n Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n\n","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nDow Jones \n2026-06-05 02:34\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n\n\nMW Bitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.\n\n\n By Frances Yue \n\n\n Bitcoin is mired in a nasty bear market, and as of Thursday was trading at its weakest level since February \n\n\n Bitcoin on Thursday fell to its lowest level since February. \n\n\n While U.S. stocks have kept notching record highs, bitcoin is sliding to its weakest level in months, leaving some investors wondering what they had gotten themselves into. \n\n\n Bitcoin (BTCUSD) slumped as low as $61,348 on Thursday, its lowest level since February. U.S. spot bitcoin ETFs have posted 12 straight days of outflows, the longest streak since the products began trading in January 2024, according to Dow Jones Market Data. Investors have pulled $3.97 billion from the funds over that stretch, the second-largest 12-day outflow on record. \n\n\n The selloff is raising uncomfortable questions for investors, beyond how quickly it might take for crypto prices to recover. It is testing many long-held theories about bitcoin's place in the broader universe of tradeable assets. Some are wondering why bitcoin is struggling while semiconductor stocks and other AI-linked names have been swept up in a powerful momentum-driven rally. And as price pressures have started to accelerate once again, bitcoin is proving that it isn't much of an inflation hedge, despite its reputation. \n\n\n That has left the pioneering cryptocurrency in an awkward position. The speculative trade that powered bitcoin higher has clearly cooled, but the current despair may also be part of the late-stage bear-market process that has preceded past recoveries, analysts said. \n\n\n \"For those investors that were buying this as a lottery ticket or a way to get your outsized investment returns, it's going to be a while before we get there,\" said Mark Hackett, chief market strategist for Nationwide's Investment Management Group. \n\n\n On social-media platforms like X, some investors have loudly proclaimed that after years of serving as the dominant cryptocurrency, bitcoin might finally be lurching toward irrelevance. \n\n\n Investors have seen this pattern before. Every time a major bitcoin bear market arrives, there is an inevitable rush of grave dancing by crypto bulls and skeptics alike. \n\n\n But investors should avoid jumping to conclusions, and not only because those who have prognosticated bitcoin's demise have been wrong in the past. \n\n\n Why bitcoin has tumbled \n\n\n The investment case for holding bitcoin with the hope of broader sovereign adoption, or as an insurance policy against some extreme outcome, remains intact, Hackett said. \n\n\n Still, \"the disappointing thing here is bitcoin hasn't acted the way that it was put out,\" he noted. \"If you've seen inflation do what it's done, and oil prices (CL00) (BRN00) and geopolitical uncertainty and government spending, this is the time that bitcoin is supposed to be shining.\" \n\n\n Meanwhile, the retail investors who once chased bitcoin higher have shifted their attention to other areas of the market, including artificial intelligence and potential initial public offerings from AI-related companies, according to Ryan Rasmussen, head of research at crypto asset manager Bitwise Asset Management. \n\n\n \"It's no secret that AI dominates every headline right now, as AI-related stocks are showing really strong performance and absorbing all that attention and capital from the crypto market,\" Rasmussen said. \n\n\n That rotation has helped deepen the pressure on bitcoin, according to Jim Ferraioli, head of digital, technical and commodities research at the Schwab Center for Financial Research. Crypto investors tend to chase momentum, he noted: When crypto is working, they add exposure; when it is not, they look elsewhere. \n\n\n \"I think people are selling what's out of favor right now to position for or add to what is working,\" Ferraioli said. \n\n\n Adding to the pressure is <a href=\"https://laohu8.com/S/MSTR\">Strategy</a>'s (MSTR) rare recent sale of bitcoin. The company said Monday that it sold 32 bitcoins between May 26 and May 31 for about $2.5 million. While the sale was tiny compared with <a href=\"https://laohu8.com/S/STRF\">Strategy</a>'s remaining holdings of 843,706 bitcoins, it landed hard symbolically. Strategy has been one of the market's most visible bitcoin buyers, while Michael Saylor, the company's executive chair, has long been an advocate of holding bitcoin through almost any market condition. \n\n\n However, analysts said the company does not appear to be in imminent danger of liquidating its bitcoin holdings. The sale has been seen more as a signal of shifting sentiment than as evidence of financial distress at Strategy. \n\n\n What's next? \n\n\n Bitcoin may be nearing an important support level in the low $60,000s, according to Schwab's Ferraioli. \n\n\n For one, the most efficient miners can still produce bitcoin at costs in the low $60,000s, creating a potential fundamental floor. Meanwhile, bitcoin's 200-week moving average, a technical level closely watched in growth assets, is also around $61,000. \n\n\n Those metrics have historically been associated with bottoms in past crypto bear markets, Ferraioli said. However, he cautioned that bitcoin's price and mining costs can influence each other if prices fall far enough to force miners to temporarily shut down operations. \n\n\n In any case, Ferraioli does not expect bitcoin to quickly return to records. \n\n\n Instead, 2026 is more likely to be a recovery year, he said, with investors needing time and a sustained improvement in momentum before they return in force. Summer has historically been a weaker period for bitcoin, while October, November and December have tended to be stronger months, creating the possibility of a better setup later in the year, he noted. \n\n\n Regulation could also help if the timing lines up. Ferraioli pointed to the Clarity Act, a digital-asset market-structure bill being worked on in the U.S. Senate, as a possible catalyst if it advances. Its passage could help restore investor confidence in the second half of the year, particularly if it arrives as bitcoin's seasonal backdrop becomes more favorable. \n\n\n -Frances Yue \n\n\n This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n<pre style=\"white-space: pre\">\n \n</pre>\n\n (END) Dow Jones Newswires\n\n\n June 04, 2026 14:34 ET (18:34 GMT)\n\n\n Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BETE":"等权重比特币&以太币期货ETF-ProShares","BITB":"比特币ETF-Bitwise","CBTJ":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - January","09439":"嘉实比特币-U","MSTR":"Strategy","BITC":"Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF","BETH":"比特币&以太币期货ETF-ProShares","WGMI":"比特币矿商ETF-CoinShares","BTF":"比特币&以太币期货ETF-CoinShares","BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","STCE":"Schwab Crypto Thematic ETF","09008":"博时比特币-U","BITI":"1倍做空比特币期货ETF-Proshares","BTCI":"NEOS Bitcoin High Income ETF","MSBT":"Morgan Stanley Bitcoin Trust ETP","BTFX":"比特币期货ETF-CoinShares","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","NGHT":"Nicholas Bitcoin and Treasuries AfterDark ETF","YBIT":"YieldMax Bitcoin Option Income ETF","BTGD":"STKD Bitcoin & Gold ETF","IBIT":"比特币ETF-iShares","BRRR":"比特币ETF-CoinShares","BTCL":"T-REX 2X LONG BITCOIN DAILY TARGET ETF","MNRS":"GRAYSCALE BITCOIN MINERS ETF","DIME":"CoinShares Altcoins ETF","BTCO":"比特币ETF-Invesco Galaxy","GDLC":"Grayscale CoinDesk Crypto 5 ETF","NCIQ":"HASHDEX NASDAQ CRYPTO INDEX US ETF","BITQ":"Bitwise Crypto Industry Innovators ETF","SBIT":"2倍做空比特币期货ETF-Proshares","YBTC":"比特币看涨期权ETF-Roundhill","ARKB":"比特币ETF-21Shares","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","ARKY":"ARK 21SHARES ACTIVE BITCOIN ETHEREUM STRATEGY ETF","TEKX":"SPDR Galaxy Transformative Tech Accelerators ETF","BTRN":"比特币期货ETF-Global X","09042":"华夏比特币-U","BITU":"2倍做多比特币期货ETF-Proshares","BKCH":"AdvisorShares Sabretooth ETF","FBTC":"比特币ETF-Fidelity","GBTC":"比特币ETF-Grayscale","BITW":"Bitwise 10 Crypto Index ETF","DAPP":"VanEck Digital Transformation ETF","HODL":"比特币ETF-VanEck","MAXI":"比特币期货ETF-Simplify","BTCZ":"T-Rex 2X Inverse Bitcoin Daily Target ETF","BITX":"2倍比特币期货ETF-Volatility Shares"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2641161783","content_text":"MW Bitcoin's sagging price has crypto bears taking a victory lap. Why it's too soon to count it out.\n\n\n By Frances Yue \n\n\n Bitcoin is mired in a nasty bear market, and as of Thursday was trading at its weakest level since February \n\n\n Bitcoin on Thursday fell to its lowest level since February. \n\n\n While U.S. stocks have kept notching record highs, bitcoin is sliding to its weakest level in months, leaving some investors wondering what they had gotten themselves into. \n\n\n Bitcoin (BTCUSD) slumped as low as $61,348 on Thursday, its lowest level since February. U.S. spot bitcoin ETFs have posted 12 straight days of outflows, the longest streak since the products began trading in January 2024, according to Dow Jones Market Data. Investors have pulled $3.97 billion from the funds over that stretch, the second-largest 12-day outflow on record. \n\n\n The selloff is raising uncomfortable questions for investors, beyond how quickly it might take for crypto prices to recover. It is testing many long-held theories about bitcoin's place in the broader universe of tradeable assets. Some are wondering why bitcoin is struggling while semiconductor stocks and other AI-linked names have been swept up in a powerful momentum-driven rally. And as price pressures have started to accelerate once again, bitcoin is proving that it isn't much of an inflation hedge, despite its reputation. \n\n\n That has left the pioneering cryptocurrency in an awkward position. The speculative trade that powered bitcoin higher has clearly cooled, but the current despair may also be part of the late-stage bear-market process that has preceded past recoveries, analysts said. \n\n\n \"For those investors that were buying this as a lottery ticket or a way to get your outsized investment returns, it's going to be a while before we get there,\" said Mark Hackett, chief market strategist for Nationwide's Investment Management Group. \n\n\n On social-media platforms like X, some investors have loudly proclaimed that after years of serving as the dominant cryptocurrency, bitcoin might finally be lurching toward irrelevance. \n\n\n Investors have seen this pattern before. Every time a major bitcoin bear market arrives, there is an inevitable rush of grave dancing by crypto bulls and skeptics alike. \n\n\n But investors should avoid jumping to conclusions, and not only because those who have prognosticated bitcoin's demise have been wrong in the past. \n\n\n Why bitcoin has tumbled \n\n\n The investment case for holding bitcoin with the hope of broader sovereign adoption, or as an insurance policy against some extreme outcome, remains intact, Hackett said. \n\n\n Still, \"the disappointing thing here is bitcoin hasn't acted the way that it was put out,\" he noted. \"If you've seen inflation do what it's done, and oil prices (CL00) (BRN00) and geopolitical uncertainty and government spending, this is the time that bitcoin is supposed to be shining.\" \n\n\n Meanwhile, the retail investors who once chased bitcoin higher have shifted their attention to other areas of the market, including artificial intelligence and potential initial public offerings from AI-related companies, according to Ryan Rasmussen, head of research at crypto asset manager Bitwise Asset Management. \n\n\n \"It's no secret that AI dominates every headline right now, as AI-related stocks are showing really strong performance and absorbing all that attention and capital from the crypto market,\" Rasmussen said. \n\n\n That rotation has helped deepen the pressure on bitcoin, according to Jim Ferraioli, head of digital, technical and commodities research at the Schwab Center for Financial Research. Crypto investors tend to chase momentum, he noted: When crypto is working, they add exposure; when it is not, they look elsewhere. \n\n\n \"I think people are selling what's out of favor right now to position for or add to what is working,\" Ferraioli said. \n\n\n Adding to the pressure is Strategy's (MSTR) rare recent sale of bitcoin. The company said Monday that it sold 32 bitcoins between May 26 and May 31 for about $2.5 million. While the sale was tiny compared with Strategy's remaining holdings of 843,706 bitcoins, it landed hard symbolically. Strategy has been one of the market's most visible bitcoin buyers, while Michael Saylor, the company's executive chair, has long been an advocate of holding bitcoin through almost any market condition. \n\n\n However, analysts said the company does not appear to be in imminent danger of liquidating its bitcoin holdings. The sale has been seen more as a signal of shifting sentiment than as evidence of financial distress at Strategy. \n\n\n What's next? \n\n\n Bitcoin may be nearing an important support level in the low $60,000s, according to Schwab's Ferraioli. \n\n\n For one, the most efficient miners can still produce bitcoin at costs in the low $60,000s, creating a potential fundamental floor. Meanwhile, bitcoin's 200-week moving average, a technical level closely watched in growth assets, is also around $61,000. \n\n\n Those metrics have historically been associated with bottoms in past crypto bear markets, Ferraioli said. However, he cautioned that bitcoin's price and mining costs can influence each other if prices fall far enough to force miners to temporarily shut down operations. \n\n\n In any case, Ferraioli does not expect bitcoin to quickly return to records. \n\n\n Instead, 2026 is more likely to be a recovery year, he said, with investors needing time and a sustained improvement in momentum before they return in force. Summer has historically been a weaker period for bitcoin, while October, November and December have tended to be stronger months, creating the possibility of a better setup later in the year, he noted. \n\n\n Regulation could also help if the timing lines up. Ferraioli pointed to the Clarity Act, a digital-asset market-structure bill being worked on in the U.S. Senate, as a possible catalyst if it advances. Its passage could help restore investor confidence in the second half of the year, particularly if it arrives as bitcoin's seasonal backdrop becomes more favorable. \n\n\n -Frances Yue \n\n\n This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n (END) Dow Jones Newswires\n\n\n June 04, 2026 14:34 ET (18:34 GMT)\n\n\n Copyright (c) 2026 Dow Jones & Company, Inc.","news_type":1,"symbols_score_info":{"09008":1.5,"HODL":0.9,"LFGY":1.5,"BTCO":0.9,"MBTmain":0.9,"BTCZ":0.9,"BKCH":1.5,"BETE":0.9,"ARKY":0.9,"GDLC":1.5,"BTGD":0.9,"DIME":1.5,"BITC":0.9,"IBIT":1.5,"FBTC":0.9,"GBTC":0.9,"BITB":0.9,"MNRS":0.9,"BETH":0.9,"BEGS":0.9,"BITI":0.9,"CBTJ":0.9,"MAXI":0.9,"BITW":1.5,"YBTC":0.9,"TEKX":1.5,"NGHT":0.9,"BITX":0.9,"WGMI":0.9,"YBIT":0.9,"MSTR":1,"NCIQ":1.5,"09439":1.5,"09042":1.5,"BTCL":0.9,"MSBT":0.9,"BITQ":1.5,"BITU":0.9,"BTCI":0.9,"STCE":1.5,"BTFX":0.9,"DAPP":1.5,"BRRR":0.9,"CRPT":1.5,"ARKB":0.9,"BTF":0.9,"BTRN":0.9,"SBIT":0.9}},"isVote":1,"tweetType":1,"viewCount":0,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":141,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/571710500816336"}