Bitcoin fell below $60,000 on June 5, trading as low as $59,099, a level the token hasn’t touched since before Donald Trump won the presidency in October 2024. The entire post-election rally, all of it, is now gone.
The decline puts Bitcoin more than 50% below its all-time high of over $126,000, which it reached in October 2025.
What’s driving the sell-off
Spot Bitcoin ETFs have hemorrhaged approximately $2.9 billion in net outflows over just nine days.
MicroStrategy sold 32 BTC for approximately $2.5 million, breaking its longstanding “never sell” policy. MicroStrategy breaking its longstanding “never sell” policy is the crypto equivalent of Warren Buffett dumping Coca-Cola stock. The amount doesn’t matter. The signal does.
