Strategy sold 32 BTC for about $2.5 million between May 26 and May 31, 2026, marking its first net Bitcoin sale since December 2022. The company disclosed an average sale price of $77,135 versus an average cost basis of $75,699, and said the proceeds were used to fund distributions tied to its STRC preferred shares.

Bitcoin slid from $77,000 to below $60,000 over the past two weeks before bouncing back to $62,000, reigniting debate over its outlook. Galaxy CEO Michael Novogratz said "Bitcoin isn't dead" and argued the traditional four-year cycle may be less relevant as the asset matures. Separately, trader James Wynn closed Bitcoin and Solana shorts for a $6.4K profit and then opened leveraged longs in BTC ($373K at 40x) and ETH ($8.50K at 25x).

Grayscale research head Zach Pandl said Strategy (Nasdaq: MSTR) may have limited capacity to keep accumulating BTC at current MSTR and STRC share prices, after the firm disclosed its first bitcoin sale since 2022. Strategy's dashboard showed MSTR at $120.44 (down 6.90%), BTC at $63,054, and holdings of 843,706 BTC, while STRC traded at $93.40 versus a $100 target and paid an 11.5% dividend. Standard Chartered's Geoffrey Kendrick said Strategy could announce a 320 BTC or 3,200 BTC purchase, as CEO Phong Le reiterated the goal of increasing net bitcoin and bitcoin per share over time.

A New York Supreme Court judge halted a default judgment on Friday in Noah Doe v. John Does 1-39,069, after which several bitcoin wallets tied to the dispute showed fresh activity. On Sunday, a wallet last active in 2019 transferred 1,878.5711 BTC valued at $114.16 million, an onchain move that could complicate claims that the addresses were abandoned.

Bitcoin formed a base above $60,000 and moved into a recovery phase above $62,000, with price holding above $62,500 and the 100-hour simple moving average. The setup points to additional upside if BTC can establish itself above $64,500, while failure to clear that area could reopen a pullback toward $62,800, $62,500 and $62,000.

Bitcoin steadied around the $60,000 area after several days of sharp declines, while on-chain signals pointed to a possible trend shift. In a June 7 X post, analyst Ali Martinez said BTC may be nearing a cycle bottom as the "Supply In Loss" metric crossed 10.46 million coins. At the time of writing, BTC traded near $62,746, up 2.5% over the past 24 hours.

Bitcoin’s network hashrate has fallen by 145 EH/s since May 28, 2026, dropping from 1,030 EH/s to 885 EH/s as prices retreat to levels last seen in February. Over the same period, hashprice declined 26.96% in 30 days to $28.26/PH/s as of June 7, while a 10.76% difficulty cut is projected for June 13, 2026.

A New York Supreme Court order filed June 5 paused a lawsuit seeking a declaratory judgment of ownership over 39,069 so-called dormant bitcoin wallets. Justice Kathy J. King halted further proceedings ahead of a July 14 hearing on whether to accept a proposed amicus brief by attorney Ian R. Cohen that disputes applying New York's lost-and-found law to assets controlled by private keys.