Bitcoin · Strategy · Bitcoin.com News
They warn of a potential “death spiral” if bitcoin prices stay sideways while dividend bills pile up
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Gold bug and bitcoin critic Peter Schiff also seized on Strategy’s apparent U-turn, warning investors to liquidate their holdings before the company sells again.
Key facts
- The decline also means bitcoin has shed approximately $4,000 in under 48 hours, momentarily dragging its market capitalization below the $1.4 trillion threshold
- Strategy sold 32 bitcoin between May 26 and May 31, 2026, generating $2.5 million at an average price of $77,135…
- Bitcoin dropped below $70,000 to an eight-week low of $69,390, wiping out $4,000 in value over 48 hours and temporarily pushing its market cap below $1.4 trillion
- Critics, however, note that unlike the company’s December 2022 sale of 704 BTC —which was used strictly for tax-loss harvesting and immediately repurchased—this $2.5 million cash-out was a permanent
Summary
Bitcoin dropped below $70,000 to an eight-week low of $69,390, wiping out $4,000 in value over 48 hours and temporarily pushing its market cap below $1.4 trillion. Strategy sold 32 BTC for $2.5M to pay debts, triggering a bitcoin drop under $70,000 on Tuesday. The bitcoin slide triggered over $470M in leveraged position liquidations in 24 hours. Bears like Peter Schiff warn of a crash, but Raoul Pal sees a standard bitcoin bull correction. Bitcoin ( BTC ) continued to plunge Tuesday morning, dropping below $70,000 as the fallout from Strategy’s sale of 32 bitcoins continued to rock the cryptocurrency market.