Bitcoin (BTC-USD) Drops Below $70,000, Hits Lowest Since April Amid ETF Outflows, Strategy Sale

Bitcoin (BTC-USD) dropped over 4% on June 2, 2026, sliding below $70,000 for the first time since April 8. The decline came as institutional holder Strategy (MSTR) disclosed its first token sale since 2022, and spot bitcoin exchange-traded funds recorded an 11th consecutive day of outflows. Strategy sold approximately $2.5 million of its $59 billion position on May 31, signaling a departure from its aggressive buy-and-hold strategy. While the sale was a fraction of holdings, the timing amplified bearish sentiment. Meanwhile, Bloomberg data showed spot bitcoin ETFs shed nearly $3.5 billion over the 11-day streak. Ether (ETH-USD) and Solana (SOL-USD) also declined, though less sharply. Nic Puckrin, Coin Bureau co-founder, noted Bitcoin’s fall even as U.S. stocks hit new AI-driven highs, suggesting crypto-specific sentiment is nearing “rock bottom.”