For the first time in two months: Bitcoin’s price fell below $70,000.
2 June 12:14
Bitcoin fell in price on Tuesday, with the cryptocurrency’s exchange rate dropping below the $70,000 mark for the first time in two months during trading. This was reported by "Komersant Ukrainian", citing Interfax-Ukraine.
According to Kraken, by 10:45 a.m. local time, the cryptocurrency had fallen 1.77% in price to $70,089. Earlier, the price had dropped to $69,660.
Controversial statements regarding the progress of U.S.-Iran peace talks, as well as news of Strategy Inc.’s sale of cryptocurrency, acted as negative factors for Bitcoin.
The day before, Iranian media reported that Iran had suspended peace talks with the U.S. This decision was made after Israel continued to strike Lebanon. However, US President Donald Trump later stated that negotiations with Iran were continuing and announced that Israel and the Lebanese Shiite movement Hezbollah had established a ceasefire.
Also on Monday, it was reported that Strategy Inc. sold 32 bitcoins worth $2.5 million last week. This is the company’s first cryptocurrency sale since December 2022. Strategy holds approximately $61.3 billion worth of bitcoins.
“Geopolitical uncertainty, coupled with concerns about Strategy’s plans, is putting significant pressure on Bitcoin,” noted Caroline Moron of Orbit Markets.
U.S. exchange-traded funds investing in Bitcoin on the spot market have recorded net investor outflows for a record 11 consecutive sessions, according to Bloomberg data. During this period, investors withdrew approximately $3.5 billion from these funds.
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