Why did Bitcoin fall below $64,000?

Bitcoin fell below $64,000 after Strategy disclosed the sale of 32 BTC and investors reacted to continued weakness in institutional demand. The decline was amplified by significant outflows from U.S. spot Bitcoin ETFs and broader concerns about crypto market sentiment.

Why is Strategy's 32 BTC sale attracting so much attention?

The sale was small relative to Strategy's massive Bitcoin holdings, but investors viewed it as symbolically important. Strategy and its executive chairman, Michael Saylor, have long been among Bitcoin's most vocal supporters, making any sale noteworthy to the market.

What did Jim Cramer mean when he referred to Bitcoin's "murder"?

Jim Cramer argued that Strategy's sale damaged investor confidence because many traders believed the company's consistent Bitcoin purchases helped support previous rallies. His comments reflected concerns that Bitcoin's recent strength may have depended more heavily on corporate buying than some investors realised.

How much pressure are Bitcoin ETFs putting on the market?

According to SoSoValue data cited in the report, U.S. spot Bitcoin ETFs recorded $1.40 billion in net outflows during the first three days of June after losing $2.43 billion in May. Persistent withdrawals suggest institutional demand has weakened in recent weeks.

Is Strategy still one of the largest Bitcoin holders?

Yes. Despite the sale of 32 BTC, Strategy remains one of the largest corporate Bitcoin holders globally. The transaction represented only a tiny fraction of its overall holdings, but the market focused on the signal it sent rather than the size of the sale itself.

What concerns does Peter Schiff have about Strategy's Bitcoin strategy?

Peter Schiff argues that Strategy's ability to continue accumulating Bitcoin depends heavily on access to capital markets. He believes the company could face challenges if its stock trades at a discount or if investor appetite for new share issuance declines.

How has Strategy's stock performed since the disclosure?

The report says Strategy shares have fallen roughly 15% since the Bitcoin sale was disclosed. Investors are also monitoring the company's reported unrealised Bitcoin loss of approximately $10.8 billion.

What is the bullish case for Bitcoin despite the recent sell-off?

Supporters may argue that a 32 BTC sale is insignificant compared with Strategy's overall holdings and does not represent a major strategic shift. Bitcoin also continues to attract long-term institutional and retail interest despite short-term volatility.

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Cramer blames Strategy as Bitcoin slides

Written by Brie CarterPublished Jun. 5 2026

Bitcoin fell below $64,000 after Strategy disclosed the sale of 32 BTC, prompting renewed debate about the cryptocurrency’s dependence on corporate and institutional support.

The Michael Saylor-led company sold the Bitcoin shortly after trading opened on Monday, only days after BTC traded near $74,000, leading investors to focus on the symbolic significance of the transaction despite its small size.

“Sadly, due to the Orchard Pool exploit, I had to dump our entire ZEC bag,”

Said BitMEX co-founder Arthur Hayes in separate comments highlighting broader market nervousness around digital assets.

CNBC host Jim Cramer said the sale unsettled traders because many investors viewed Strategy as one of Bitcoin’s strongest supporters and described the company as a “key trampoline” that had helped support previous market rallies.

According to SoSoValue data, U.S. spot Bitcoin ETFs recorded $1.40 billion in net outflows during the first three days of June after experiencing $2.43 billion in withdrawals during May, adding further pressure to the market.

Economist Peter Schiff argued that investors are increasingly moving away from Bitcoin and claimed Strategy’s ability to continue supporting its treasury strategy depends on maintaining access to capital through share issuance.

Strategy shares have fallen about 15% since the disclosure, while the company is reportedly carrying an unrealised Bitcoin loss of roughly $10.8 billion, placing renewed attention on the role of corporate treasury strategies in the broader crypto market.

At the time of reporting, Bitcoin price was $62,684.55.