{"id":46057,"date":"2026-06-07T04:00:03","date_gmt":"2026-06-07T04:00:03","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-price-plunges-to-59k-sparking-fears-of-deeper-decline\/"},"modified":"2026-06-07T04:00:03","modified_gmt":"2026-06-07T04:00:03","slug":"bitcoin-price-plunges-to-59k-sparking-fears-of-deeper-decline","status":"publish","type":"post","link":"https:\/\/cryptd.in\/en\/bitcoin-price-plunges-to-59k-sparking-fears-of-deeper-decline\/","title":{"rendered":"Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline"},"content":{"rendered":"<p>Capital rotation into artificial intelligence may have played a bigger role in Bitcoin\u2019s latest selloff than most market watchers initially assumed.<\/p>\n<p>Michael Saylor, whose company <a href=\"https:\/\/www.strategy.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Strategy<\/a> recently sold a portion of its Bitcoin holdings, pushed back on criticism and pointed instead to an unprecedented flow of money into AI infrastructure as a key factor behind the drop.<\/p>\n<h2>Saylor Pushes Back On Blame<\/h2>\n<p>Strategy\u2019s Bitcoin sale briefly made Saylor a target. TV personality Jim Cramer went as far as to say Saylor had \u201cmurdered Bitcoin,\u201d a claim Saylor denied outright.<\/p>\n<p>He argued that capital markets have been funding the <a href=\"https:\/\/www.newsbtc.com\/bitcoin-news\/bitcoin-faces-pressure-as-investors-rotate-capital-into-ai-buildout-saylor\/\" target=\"_blank\" rel=\"noopener \">AI buildout<\/a> at historic scale \u2014 roughly $400 billion over six months \u2014 and that the pressure on Bitcoin was a rotation of capital, not a sign of structural damage to the asset.<\/p>\n<p>SBI Holdings Chair Yoshitaka Kitao echoed that view, pointing to the <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-05\/spacex-s-75-billion-ipo-draws-more-orders-than-shares-available\" target=\"_blank\" rel=\"noopener nofollow\">upcoming IPOs<\/a> of SpaceX, Anthropic, and OpenAI as likely draws pulling money away from crypto.<\/p>\n<h2>Jobs Data Delivers The Blow<\/h2>\n<p>The immediate trigger, however, was a US jobs report that caught markets off guard. The Bureau of Labor Statistics reported non-farm payrolls rose to 172,000 in May 2026, more than double the Wall Street estimate of 85,000. The unemployment rate held steady at 4.3%.<\/p>\n<p>That reading spooked investors. BNP Paribas said the data opens the door to as many as three Federal Reserve rate hikes, a scenario that historically weighs on risk assets like Bitcoin. From $62,500, BTC fell sharply to around $59,000 following the release.<\/p>\n<p>At the time of reporting, Bitcoin was <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">trading at $59,990<\/a>, down 6% in 24 hours \u2014 its lowest price since October 2024.<\/p>\n<p>ETF Outflows Add To The Pressure<\/p>\n<p>Spot Bitcoin ETFs have now recorded 14 consecutive sessions of outflows, with cumulative negative flows approaching $5 billion.<\/p>\n<p><img decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/LmXyrSLo\/\" width=\"1634\" height=\"951\" loading=\"lazy\" \/><\/p>\n<p>Bitget CEO Gracy Chen identified those outflows as a significant factor in the broader crypto market decline.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"zh\">\u90a3\u4e2a\u8bf4\u8fc7\u5356\u80be\u4e0d\u5356\u5e01\u7684\u7537\u4eba\u7ec8\u4e8e\u90fd\u5356\u5e01\u4e86<br \/>\n\u73b0\u8d27ETF\u8fde\u7eed13\u5929\u51c0\u6d41\u51fa\uff0c\u7d2f\u8ba1$43.7\u4ebf\uff0c\u662f\u5386\u53f2\u6700\u957f\u8fde\u7eed\u6d41\u51fa\u7eaa\u5f55<br \/>\nBTC\u8dcc\u7a7f\u4e86\u6708\u7ebfEMA50\u652f\u6491\u7684$65K<\/p>\n<p>\u6211\u4e0d\u662f\u5728\u770b\u7a7a\u3002\u6211\u53ea\u662f\u89c9\u5f97\uff0c\u8be5\u8bf4\u7684\u98ce\u9669\u4e0d\u80fd\u88c5\u6ca1\u770b\u89c1\u3002\u2026 <a href=\"https:\/\/t.co\/Sj0Y8zanys\" rel=\"nofollow\">https:\/\/t.co\/Sj0Y8zanys<\/a> <a href=\"https:\/\/t.co\/2f0QxTKJYM\" rel=\"nofollow\">pic.twitter.com\/2f0QxTKJYM<\/a><\/p>\n<p>\u2014 Gracy Chen @Bitget (@GracyBitget) <a href=\"https:\/\/x.com\/GracyBitget\/status\/2062444280161935508?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 4, 2026<\/a><\/p>\n<\/blockquote>\n<p>On Friday alone, Bitcoin saw $545 million in total liquidations, according to CoinGlass <a href=\"https:\/\/www.coinglass.com\/liquidations\" target=\"_blank\" rel=\"noopener nofollow\">data<\/a>. Long positions accounted for $444 million of that figure, meaning a wave of automated selling hit the market as prices fell through key levels, compounding the downward move.<\/p>\n<p>Whether the $59,000 zone holds as support remains to be seen. The combination of macro pressure, sustained ETF redemptions, and shifting capital flows has left the market on edge.<\/p>\n<p><em>Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Capital rotation into artificial intelligence may have played a bigger role in Bitcoin\u2019s latest selloff than most market watchers initially assumed. Michael Saylor, whose company Strategy recently sold a portion of its Bitcoin holdings, pushed back on criticism and pointed instead to an unprecedented flow of money into AI infrastructure as a key factor behind [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":46059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-46057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/en\/bitcoin-price-plunges-to-59k-sparking-fears-of-deeper-decline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Capital rotation into artificial intelligence may have played a bigger role in Bitcoin\u2019s latest selloff than most market watchers initially assumed. 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