{"id":52918,"date":"2026-06-24T09:09:00","date_gmt":"2026-06-24T14:09:00","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=52918"},"modified":"2026-06-24T09:09:07","modified_gmt":"2026-06-24T14:09:07","slug":"bitcoin-price-slides-toward-61000","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-slides-toward-61000","title":{"rendered":"Bitcoin Price Crashes Toward $61,000 as Bloodbath Engulfs Crypto Stocks"},"content":{"rendered":"
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Bitcoin price is trading near $61,500 today, extending a decline that has erased more than half its value since the token hit a record high<\/a> in October 2025. The sell-off is rippling through publicly traded crypto companies, where losses have at times outpaced Bitcoin itself.<\/p>\n\n\n\n

The token fell to $61,877 earlier this week \u2014 its lowest level since June 11 \u2014 before sliding further. Bitcoin price briefly broke below $60,000 on June 5, a level not seen since late 2024, before a partial recovery that has since stalled.<\/p>\n\n\n\n

Deutsche Bank attributed Bitcoin’s weakness to a convergence of institutional pressures. A shift in Federal Reserve expectations \u2014 the bank now forecasts two rate hikes in 2026, reversing earlier expectations for cuts \u2014 has removed a key pillar of institutional demand. Higher rates make risk assets less attractive relative to cash and bonds.<\/p>\n\n\n\n

Spot Bitcoin ETFs have seen six consecutive weeks of net outflows totaling roughly $6 billion, with $2.4 billion leaving in June alone. Deutsche Bank analyst Marion Laboure described<\/a> Bitcoin as “increasingly trading like an institutional risk asset,” with the marginal buyer now an ETF allocator or corporate treasury rather than a retail participant. When those buyers exit, the price follows.<\/p>\n\n\n\n

Competition from artificial intelligence has added pressure. U.S. tech giants are on track<\/a> to spend more than $700 billion on AI infrastructure in 2026, and investors are treating Bitcoin and AI-linked equities as competing destinations for speculative capital. A tech stock sell-off that began Monday pulled Bitcoin price lower in tandem, with the Nasdaq 100 falling as much as 3.4%.<\/p>\n\n\n\n

Blood in the streets for the bitcoin price and for crypto stocks<\/h2>\n\n\n\n

The pain has been acute for companies that built their business models around Bitcoin accumulation.<\/p>\n\n\n\n

Strategy, the largest corporate Bitcoin holder, has fallen for five consecutive trading sessions and is down more than 20% over the past week. <\/p>\n\n\n\n

The stock is off 26% over the past 30 days. A major catalyst came in late May when Strategy sold<\/a> 32 BTC for approximately $2.5 million \u2014 its first Bitcoin sale since 2022 \u2014 to cover distributions on its preferred stock. The move shattered the company’s “buy only, never sell” identity and spooked investors. <\/p>\n\n\n\n

Strategy carries five series of preferred stock with combined annual dividend obligations estimated at $750\u2013$800 million, and its cash reserves have fallen from $2.25 billion at the start of 2026 to around $900 million.<\/p>\n\n\n\n

Strive, the Bitcoin treasury company backed by Vivek Ramaswamy, has also taken a hit. The company purchased<\/a> 2,500 BTC for $185 million at an average price of $74,092 \u2014 well above current levels \u2014 leaving it sitting on paper losses. Shares of Strive (ASST) dropped after the purchase was disclosed, a sign that investors are skeptical of aggressive accumulation strategies at elevated cost bases. <\/p>\n\n\n\n

Strive now holds roughly 19,864 BTC valued at approximately $1.3 billion, and like Strategy, carries preferred dividend obligations that must be paid regardless of where Bitcoin price trades.<\/p>\n\n\n\n

Coinbase fell 2.5% on Tuesday. Stablecoin issuer Circle dropped more than 4%.<\/p>\n\n\n\n

At the time of writing, the bitcoin price is $61,205.<\/p>\n\n\n\n

\"bitcoin<\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price has fallen to around $61,500\u2014down more than 50% from its October 2025 peak\u2014dragging crypto-related stocks even lower in the broader market sell-off.<\/p>\n","protected":false},"author":3817,"featured_media":50315,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[6397,132,5454,4284,5440,6094],"class_list":["post-52918","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-asst","tag-bitcoin-price","tag-markets","tag-mstr","tag-strategy","tag-strive"],"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/02\/Bitcoin-Price-Crashes-9-to-69000-As-Markets-Spiral-Into-Full-Risk-Off-Mode.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=52918"}],"version-history":[{"count":2,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52918\/revisions"}],"predecessor-version":[{"id":52921,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52918\/revisions\/52921"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/50315"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=52918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=52918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=52918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}