Bitcoin's price fell to its lowest level since April, hitting $66,000 following a wave of selling that resulted in a record $1.44 billion outflow from ETFs. The cryptocurrency market capitalization dropped to $2.22 trillion, reflecting ongoing pressures in the market. Analysts noted that more than half of the circulating Bitcoin is sitting on unrealized losses.
Amid a period of intense price correction, Standard Chartered analysts suggest that Bitcoin is nearing a market bottom following a sharp 14% decline over the past seven days.
Read the full storyA trader lost over $500,000 on Polymarket following a bet settlement, as reports emerge of a $150 million payout freeze due to disputes over MicroStrategy's Bitcoin sale timing.
Crypto analysts suggest individual corporate balance sheets will drive Bitcoin retention decisions rather than a coordinated market exit.
MSTR shares fell after the firm sold $2.5 million in BTC, marking its first liquidation in years and sparking debate over its long-term strategy.