Coin Bureau Podcast|08. Juni
Bitcoin Crashes Below $60K!! Saylor Selling BTC as Stocks Finally Crack
Crypto Market Under Pressure: Crash Below $60K, Saylor Sale & More
This week was marked by severe losses in the crypto market, triggered by several factors:
- Bitcoin falls below $60,000: The price dropped from over $70,000 to below $60,000, accompanied by ongoing Bitcoin ETF outflows (12-day streak) and rising rate hike expectations.
- Michael Saylor in the spotlight of criticism: MicroStrategy (now "Strategy") sold Bitcoin for the first time since 2022 (32 BTC for $2.5 million) to pay dividends on preferred shares. This led to a massive loss of confidence, as Saylor previously preached the mantra "Never sell your Bitcoin." The sale triggered a cascade: the price slide caused an unrealized loss of $12 billion for the company.
- Zcash security vulnerability: A critical bug in the Orchard Shielded Pool (undiscovered since 2022) caused the coin to drop by 27%. The vulnerability was found through AI-powered audits – a warning sign for other projects.
- Macroeconomic pressure: Strong US labor market data (ADP, NFP) increased the probability of a rate hike still in 2025, weighing on risk assets.
- Technical Analysis (Jordi): Bitcoin's RSI reached its lowest level since March 2020, Ethereum even an all-time low. A potential bullish signal: the recovery from the 200-week line. However, Jordi warns of a bull trap and advises patience.
- Outlook: Key dates are the US CPI release (crucial for rate expectations) and the SpaceX IPO. A soft CPI could trigger a recovery.
Quotes & Voices:
- "The sale of 32 BTC was just a liquidity test, but the psychological impact was enormous."
- "The strategy risks a death spiral: falling prices → more sales for dividends → even lower prices."
