Bitcoin (BTC) lost its $70,000 level on June 2, 2026, further deepening the correction that began in recent days.
At the time of publication of this note, Digital asset is trading near $69,800It is 44% below its all-time high (ATH) of $126,000.
This decline occurred in a background characterized by increased risk aversion in global markets. Meanwhile, tensions between the United States and Iran continue. Meanwhile, Russia launched its largest airstrike against Ukraine in months.
According to Reuters, the Russian military fired 656 drones and 73 missiles into Ukrainian territory, mainly over Kiev, during the night. Local authorities said at least 11 people were killed and more than 100 injured. Russia’s Ministry of Defense confirmed that it carried out a “large-scale attack” on defense industrial facilities in Ukraine.
at the same time, Iran stops indirect message exchanges with USa decision that complicates diplomatic efforts to ease tensions in the Middle East.
For markets, these events have implications beyond the military level. The conflict continues to affect the Strait of Hormuz, one of the most important routes for oil transportation in the world.
And this not only increases the risk of disruption to global energy supplies, but also raises concerns about inflation. For these reasons, it will be reduced Expectations for interest rate cuts by central bankscreating downward pressure on assets considered to be risky, such as Bitcoin and cryptocurrencies.
Strategy sells Bitcoin again
During this scenario, The market also processed Strategy’s first Bitcoin sale since 2022.
The company, chaired by Michael Saylor, notified the U.S. Securities and Exchange Commission (SEC) that it sold 32 Bitcoins for approximately $2.5 million between May 26 and May 31.
Although this business represents a small portion of the company’s holdings, the news raised concerns among some investors as the company is a major corporate buyer of Bitcoin.
Strategy currently holds 843,706 BTC in its treasury, making it the publicly traded company with the most BTC in the world.
Although this is a small sale compared to Bitcoin, which is treasury managed by Strategy. This move comes amid Bitcoin vulnerabilities, which is why it affected the market.
There are concerns not only about the BTC being sold, but also about the precedent it will set. If Strategy, with the financial backing and capital structure it has built over the past few years, starts selling some of its BTC to cover its debt; The question that arises is: How much margin do other companies with weaker financial strength have in the face of a prolonged bearish scenario?
ETF hits worst streak since inception
The bearish pressure is also reflected in the US spot Bitcoin exchange-traded fund (ETF). As reported by CriptoNoticias, these financial products have been in the red for 11 consecutive days. Longest negative consecutive record since release in January 2024.
Yesterday, June 1st, $483.8 million was withdrawn from these ETFs. The bulk of this figure corresponded to BlackRock’s IBIT, which recorded an outflow of $440.3 million. The only exception was Morgan Stanley’s MSBT, which raised $6.14 million.
From May 15th to June 1st, ETFs recorded outflows of more than $3.45 billion.
Through its operation, The performance of these financial instruments directly affects the price of BTC. This happens because when money flows into these funds, the custodians have to buy BTC on the market. Conversely, if a cash shortage occurs, managers may be forced to sell some of their holdings in order to return funds to investors.
This accumulation of news has had a major impact on Bitcoin, and Bitcoin needs a signal to break its short-term downtrend.
A possible trigger would be an end to the conflict between the United States and Iran, along with the reopening of the Strait of Hormuz and the normalization of oil shipments. Until that happens, Markets will continue to operate under pressure.
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