Bitcoin Falls Below $60,000 as $482 Million in Liquidations Mount
Bitcoin fell below $60,000 for the third time this year on Wednesday, triggering more than $482 million in liquidations of leveraged long positions over a four-hour window. The decline pushed the digital asset's total market capitalization below $2.2 trillion and marked a roughly 20% drop from the start of June, intensifying broader pressure across cryptocurrency markets.
The selloff also dragged down Strategy, the bitcoin treasury company formerly known as MicroStrategy, which saw its shares slip below $100 for the first time since March 2024. Trading near $99.50, the firm holds 847,363 bitcoin at an average cost of $75,651, resulting in over $11 billion in unrealized losses. Strategy's preferred stock, STRC, fell to a record low of $80.50, erasing the premium the company once commanded over spot bitcoin as spot ETFs and share dilution compress valuations.
From the sources (25 posts)
@saylorRT @phongle: I bought $1 million of $STRC today. Will hold it until it reaches par, likely longer.
@coinmarketcapLATEST: 💰 Strategy CEO Phong Le says he bought $1M worth of STRC and plans to hold it at least until it reaches par.
@cointelegraph🔥 JUST IN: Strategy CEO Phong Le says he purchased $1 million worth of STRC and plans to hold it until it reaches par value.
@laurashin1/ Strategy's STRC Bitcoin-backed preferred stock can't seem to find its way back to its par value of $100. A Bitcoin rebound surprisingly did not help. Strategy's move to bi-monthly dividend payment cycle has not helped and neither has th
@laurashinI sat down with @ColeMacro of @Strive after he called last week the most difficult in digital credit's history. 📉 He argues the STRC drop was a leverage liquidation, not a broken model. I pushed him on whether the critics of Strategy are
@saylorRT @ColeMacro: I was on @BloombergTV today discussing the problem Digital Credit is built to solve. Even with recent volatility, $SATA is…
@saylorDigital Credit is income for investors who believe in Bitcoin. $STRC
@bulltheoryioBREAKING: Michael Saylor's $MSTR hit $103 yesterday, a new 23 month low. It is now down -81% from its all time high and has wiped out $153 billion from its market cap. Strategy holds 847,363 Bitcoin worth $53 billion at current prices. Th
@deitaoneBITCOIN DROP COULD PRESSURE STRATEGY Strategy’s $53 billion Bitcoin holdings currently cover its financing costs, but a deeper Bitcoin decline could make funding more difficult. Analysts estimate that if Bitcoin falls to $30,000, Strategy
@laurashinRT @laurashin: 1/ Strategy's STRC Bitcoin-backed preferred stock can't seem to find its way back to its par value of $100. A Bitcoin rebou…
@degeneratenewsBREAKING: $MSTR (@Strategy) DROPS BELOW $100
@bulltheoryioBREAKING: $STRC just crashed to $84. Despite constant dilution of $MSTR shareholders, STRC isn't going anywhere near its $100 peak and just keeps sliding lower. This means one of two things. 1. Either the market expects Saylor to sell a
@wublockchainStrategy Shares Fall Below $100 for First Time Since March 2024 According to market data, Strategy (MSTR) fell below $100 and was trading at $99.50, down 4.18% intraday, marking its first drop below $100 since March 2024. Strategy is curre
@thelonginvest$MSTR is now below $100
@bulltheoryioBREAKING: $STRC just crashed to $84. Despite constant dilution of $MSTR shareholders, STRC isn't going anywhere near its $100 peak and just keeps sliding lower. This means one of two things. 1. Either the market expects Saylor to sell a
@theblockcoTHE BLOCK: Strategy’s $MSTR stock has fallen below $100 for the first time since March 2024.
@tftc21Strategy ($MSTR) just fell below $100 for the first time since March 2024. Down more than 80% from its November 2024 peak of ~$474. The company holds 847,363 BTC at an average cost of ~$75,646 per coin. With bitcoin at ~$62,000, that's an
@scottmelkerJUST NOW: $MSTR DROPS BELOW $100
@deitaone$MSTR - STRATEGY FACES GROWING BITCOIN PRESSURE Falling Bitcoin prices are increasing pressure on Strategy’s finances, with its cash reserves shrinking while dividend obligations continue to rise. Analysts warn the company may face tough
@fintechfrankRT @slatersanter: MSTR is trading below $100 for the first time since 2024.
@bitcoinmagazineJUST IN: Bitcoin drops to $59,765 👀
@cointelegraph🚨 JUST IN: Bitcoin has fallen below the $60,000.
@coinmarketcap🚨 $BTC dips below 60K❗
@coingeckoNOW: Bitcoin falls under $60,000.
@coindeskBREAKING: bitcoin:native falls below $60K .