Bitcoin extended its downtrend again, trading near $62,400 in Thursday’s session as a rare sale by Strategy, accelerating spot ETF outflows, and a less forgiving macro backdrop converged to unwind what had looked like a tentative recovery.
The week's losses now stand at over 13%, according to The Block’s price page, with bitcoin's price (BTC) failing to hold above the $67,000-$68,000 range that several analysts had identified as the threshold for any credible recovery attempt.
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Strategy's symbolic stumble
Some analysts say the catalyst that amplified an already deteriorating picture was a disclosure that Strategy sold 32 BTC in late May to fund preferred dividend payments — a transaction immaterial in size but freighted with symbolism.
