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Bitcoin drops below $71K amid US-Iran tensions and Strategy's Bitcoin sale

Market News
01 Jun 2026
Coinpaper
View Source
Bearish
Bitcoin drops below $71K amid US-Iran tensions and Strategy's Bitcoin sale

Bitcoin fell below $71,000 due to escalating geopolitical tensions between the US and Iran, including threats to block key maritime routes. The decline was compounded by Strategy's sale of 32 BTC to fund dividends, marking its first Bitcoin sale since 2022. Market caution persists as Bitcoin tests support levels, with mixed network data and increased selling pressure signaling potential further downside. Analysts suggest the drop fits a broader four-year cycle pattern, with possible retesting of lows before a deeper bottom forms in 2026.

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