Bitcoin (BTCUSD) Slides to Pre-Iran Conflict Lows as Strategy’s Saylor Sells and Sentiment Breaks

Bitcoin is having a brutal week. The original cryptocurrency fell more than 5% to below $62,000 in early Singapore trading on Thursday, its lowest level since February 6, 2026. The losses extend a bruising week that has seen Bitcoin shed about 16% of its value. Two catalysts drove the slide: renewed Middle East clashes weighing on broader risk sentiment and a moment that shook crypto markets to their core. Michael Saylor’s Strategy (NASDAQ: MSTR) sold Bitcoin for the first time since December 2022. The combination landed hard. Liquidations surged, ETF outflows accelerated, and Bitcoin’s key support levels cracked one by one.

Strategy Sells: The Event That Started the Slide

On June 1, 2026, Strategy disclosed in an 8-K SEC filing that it sold 32 Bitcoins between May 26 and May 31 at an average price of $77,135, raising about $2.5 million to fund distributions on its STRC preferred stock.

The numbers are almost comically small against the company’s position. As of May 31, Strategy held 843,706 Bitcoin, the largest corporate holding globally, acquired at a blended average cost of $75,699 per coin. The 32 coins sold represent just 0.0038% of that total. But the symbolism was everything. Saylor had built his entire identity around never selling. Markets priced that commitment in. The moment it broke, even fractional confidence cracked.

Bitcoin slipped below $72,000 within hours of the disclosure. More than $93 million in futures positions were liquidated in a single hour, with 95% of them long positions.

The Liquidation Cascade

The strategy news did not cause the sell-off alone; it triggered a cascade that was already primed.

Bitcoin fell below $62,000 in Asian trading, sparking more than $1.5 billion in leveraged crypto liquidations over 24 hours, including over $800 million in Bitcoin and $386 million in Ether positions.

Date	Bitcoin Price	Key Event
May 26–31	$77,135 avg	Strategy sells 32 BTC
June 1	Below $72,000	First hourly liquidation wave
June 3–4	Below $62,000	Pre-Iran conflict low breached
Weekly loss	~16%	Largest weekly drop of 2026
24-hour liquidations	$1.5 billion+	$800M BTC, $386M ETH

Bitcoin alone accounted for more than $1.4 billion of ETF outflows, the largest weekly Bitcoin ETF outflow of 2026 so far. Two pillars that had supported prices all year, ETF demand and Strategy accumulation, weakened simultaneously. That is the structural problem the market now faces.

Iran Conflict Adds Macro Pressure

The strategy catalyst did not operate in isolation. Geopolitical stress was already building before the sale hit.

The Iranian conflict began on February 28, 2026. Brent crude surged nearly 64% from pre-conflict levels, briefly touching $120 per barrel before pulling back. When crude prices climb rapidly, sometimes jumping 7% or more in short periods on blockade news, they stoke inflation worries and reduce expectations for easier monetary policy, making investors less willing to hold high-risk assets like Bitcoin.

Bitcoin fell to a 2026 low of $65,834 on April 3 following escalating rhetoric, and the US House of Representatives rejected the war powers resolution with a 213–214 vote on April 16, 2026, triggering an immediate 4% Bitcoin price drop. The June slide to below $62,000 takes Bitcoin back below all those conflict-era lows.

Where Other Assets Stand

• Gold: Settled near $4,700 after spiking to $4,800 during peak April strikes
• Brent Crude: Remains roughly 35% above pre-conflict levels despite ceasefire
• S&P 500 (SPX): Down from the peak as risk-off sentiment spreads
• MSTR (Strategy): Dropped 6% in the session following the Bitcoin sale disclosure
• Ethereum (ETH): $386 million liquidated in the same 24-hour window as Bitcoin

What Comes Next

Bitfinex analysts noted, “The sustainability of a move higher for Bitcoin now hinges on geopolitics: the US-Iran ceasefire expires April 21 unless a resolution is found, leaving upcoming negotiations in the driving seat.” That ceasefire window has now passed without a firm resolution, leaving the conflict risk alive.

What Breaks the Bitcoin Range Next

Analyst consensus places Bitcoin’s 2026 trading range at $55,000–$95,000, with the outcome depending heavily on whether the Iran situation resolves diplomatically by the end of Q3 2026. At $62,000, Bitcoin sits near the lower end of that range. The next technical support sits at the February 6 low, the last level that was held before the Iran conflict began. A break below that level would put the $55,000 floor in view. Track Bitcoin’s live price and liquidation data at coindesk.com and coinglass.com

Disclaimer

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.