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Bitcoin falls below $59K amid debate over Strategy's BTC sale impact on market drop.

Market News
05 Jun 2026
Crypto news
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Bearish
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Bitcoin dropped to nearly $59,000 after a 20% weekly decline, sparking debate over the cause. Jim Cramer blamed Michael Saylor and Strategy's sale of 32 BTC for the selloff, but Saylor dismissed this claim. Analysts from CryptoQuant and Citigroup pointed to larger factors like ETF outflows and whale selling as more significant drivers. Concerns also arose about Strategy's funding model and Bitcoin's ongoing bear market trend since late 2025, suggesting broader market dynamics are at play beyond the recent sale.

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