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Bitcoin falls to $59K amid selloff; Michael Saylor denies blame for the drop.

Market News
05 Jun 2026
Tokenpost
View Source
Bearish
pluang ai news

Bitcoin's price dropped to $59,000, its lowest in nearly two years, amid heavy selling pressure and large liquidations. CNBC host Jim Cramer blamed Michael Saylor for the decline, but Saylor dismissed the claim. CryptoQuant's CEO and Citigroup analysts argue that broader market forces and significant selling by long-term holders, not Saylor's modest sales, drove the downturn. Institutional buying, including from Saylor's Strategy and spot Bitcoin ETFs, has helped support Bitcoin's price over recent years despite volatility.

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