Guy Fawkes 
In Bitcoin news today, the asset crashed to $59,100 on June 5, its lowest print of 2026, and the reason it happened matters more than the number itself. In a single 24-hour window, 351,233 traders were liquidated across crypto markets, wiping out $1.75Bn in positions.
However, over the weekend, the Bitcoin price recovered to over $63,000, with early signs pointing to a potential rally, though whether it can be sustained remains to be seen.
Strategy, formerly MicroStrategy, the company Michael Saylor chairs, disclosed in a June 1 SEC filing that it sold 32 BTC between May 26 and May 31. The proceeds: roughly $2.5M. The market’s response: a cascading sell-off that erased $200Bn in total crypto market value.
Bitcoin fell below its 200-week moving average for the first time since June 2022. Here is the central tension this article unpacks: a mathematically trivial transaction caused a psychologically devastating reaction, and Saylor is now publicly framing the rubble as a buying opportunity.
A good time to add more dots. pic.twitter.com/4cRmmtbzKv
— Michael Saylor (@saylor) June 7, 2026
Bitcoin News Today: Why the 32 BTC Sale Broke a Narrative Worth Billions
Think of Strategy’s bitcoin position like a landlord who, after years of refusing to sell, suddenly cracks open the piggy bank for $2.5M while holding 843,700 BTC valued at tens of billions.
This sale, the first since a 2022 tax-loss harvest, was used to fund distributions for STRC perpetual preferred stock, which has deadlines. CEO Phong Le justified future sales by claiming they protect BTC holders by preventing dilution.
However, this action shattered Strategy’s “never sell” image, prompting retail selling and concerns that further sales could follow. This psychological shift is more significant than the sale itself.
On June 4, Saylor noted that $400Bn is being allocated to AI development, and the recent $4Bn in bitcoin ETF outflows represent capital rotation rather than fundamental issues with bitcoin. He described the volatility as a ‘gift to the faithful,’ signaling to his followers.
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Saylor’s ‘Buying Hint’: Capital Rotation Framing or Genuine Signal?
Saylor’s post warrants careful examination as it presents two key arguments. First, there’s a factual layer indicating that institutional capital has shifted from bitcoin to AI equities and tech stocks, with bitcoin’s correlation to the Nasdaq collapsing despite tech hitting record highs.
Second, historically, when Saylor makes bullish statements during price declines, his company has typically continued buying bitcoin, raising its average cost basis to around $76,000 recently.
Conversely, some interpret this as narrative management, with Saylor trying to frame the downturn as part of an AI rotation to mitigate damage from previous sell disclosures.
Both interpretations may hold true: Saylor could genuinely believe in the rotation while also managing his company’s public image. The challenge for readers is to discern meaningful insights from the surrounding noise.
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Technical Picture: Can Bitcoin Hold $63K?
$BTC fresh start of a new week.
Previous weekly candle closed very bearish, and left an imbalance at 72.5K.
As long as we hold the 59.1K previous weekly low, my final long target for this week is that 72.5K imbalance.
Another important resistance level is the 50% weekly body… pic.twitter.com/87H741Yb9U
— Lennaert Snyder (@LennaertSnyder) June 8, 2026
In other Bitcoin news today, the asset stabilized around $61,120 by late Friday after dipping to $59,100 earlier in the day. The notable breach of the 200-week moving average, which has historically marked cycle lows, raises concerns.
Over half of all BTC is held at an unrealized loss, a sign that often precedes bear market bottoms. On-chain transaction volume is nearing all-time highs, indicating significant changes in ownership. The daily RSI fell to a rare 17–18, suggesting potential for recovery.
Bull case: If Bitcoin holds its current level of$63,000 as the cycle low, it could reclaim the $65,000 resistance within weeks.
Base case: Bitcoin may consolidate between $59,000 and $64,000 during the summer amid macro uncertainty.
Bear case: A close below $59,100 could test $58,000, with a potential dip below $50,000.
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The post Bitcoin News Today: BTC Back Above $63K as Saylor Hints at a Fresh Buy appeared first on 99Bitcoins.
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