News
The day at a glance · 2 min read
Mood · Risk-Off
-45
Sentiment, −100 to +100
Bitcoin Price
$70,000below
Strategy BTC Sale
32 BTCfirst since 2022
Sale as % of Holdings
~0.0038%
Key driverStrategy disclosed a 32 BTC sale, about 0.0038% of its holdings, to fund preferred dividends; Bitcoin traded below $70,000.
Daily briefCrypto & Web3· Money365.Market AI ·

Bitcoin Falls Below $70,000 After Strategy's BTC Sale

Strategy disclosed its first bitcoin sale since 2022 — 32 BTC to fund preferred dividends — as crypto stocks traded lower.

Bitcoin

Bearish

Crypto Market Cap (Prior)

$2.57 trilliondeclined
01MSTR
Bitcoin ($BTC-USD) traded below $70,000 after Strategy ($MSTR), Michael Saylor's bitcoin treasury company, disclosed in a June 1 filing that it sold 32 BTC for about $2.5 million between May 26 and May 31 — its first bitcoin sale since 2022. The sale equaled roughly 0.0038% of Strategy's 843,706 BTC holdings and is intended to fund distributions on its $STRC preferred stock, a variable-rate perpetual instrument designed to trade around a $100 par value. Total cryptocurrency market capitalization declined from a prior $2.57 trillion. Sentiment among crypto traders was divided following the disclosure.

Crypto Stocks

Neutral

BitMine Preferred Stock

9.50%

BitMine Capital Raise

$300 million

BitMine ETH Loss

$8 billionunrealized

MARA Acquisition

$1.5 billion

MARA Energy Cost

$0.04/kWh
01MSTR
Strategy ($MSTR) stayed in focus as investors weighed the bitcoin sale, which the company has described as an effort to support the bitcoin market. Separately, Tom Lee's BitMine is offering 9.50% preferred stock to raise $300 million, even as it reported an unrealized ether loss of about $8 billion.
02MARA
MARA Holdings ($MARA) completed a $1.5 billion acquisition and reported energy costs of $0.04 per kWh at its owned sites, among the lower costs in bitcoin mining.

Stablecoin Developments

Neutral
COINPYPL
01
Circle shares traded lower following reports that Stripe, Visa, and Mastercard are nearing the launch of a joint stablecoin platform, which would increase competition in stablecoin infrastructure. Separately, House of Doge and merger partner Brag House Holdings announced a partnership with blockchain infrastructure firm Paxos to integrate Dogecoin into Paxos' crypto brokerage network.

Institutional & Exchange Activity

Neutral

NewLimit Valuation

$3.1 billion+tripled
01COIN
Coinbase ($COIN) joined Meta, Microsoft, Starlink, and law enforcement in an effort to disrupt criminal scam networks in Southeast Asia. Separately, a longevity startup founded by $COIN chief executive Brian Armstrong, NewLimit, was reported to have tripled in value to $3.1 billion, according to a Polymarket post.
02PYPL
PayPal Holdings ($PYPL) said it is powering Hey Savi, described as a UK end-to-end AI commerce app, with native PayPal payments through partners including Debenhams Group; the company presented at the 2026 Evercore Global TMT Conference.

Looking Ahead

Neutral
HOODMSTR
01
Investors will turn to initial jobless claims and the Challenger job-cuts report ahead of Friday's nonfarm payrolls release, which could influence risk appetite across digital assets.
02HOOD
Robinhood ($HOOD) said its TradePMR custodian will lower margin and securities-backed lending rates in July as part of moves to attract registered investment advisers. Traders remain divided on whether the recent selloff marks a late-stage decline or the start of a longer downturn following Strategy's bitcoin sale.

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