Bitcoin Slumps Below $60K as Strategy Selloff Fades Demand

Bitcoin's price plummeted below $60,000 on Tuesday, marking a 3% decline as investors reevaluated their confidence in Michael Saylor's financing overhaul at Strategy Inc.

The move erased most of Monday's gains after the company announced its capital structure overhaul, which initially sparked hope for stock buybacks and a larger cash reserve.

However, the new flexibility to sell Bitcoin and prioritize balance-sheet management over accumulation has raised fresh concerns about one of the cryptocurrency's biggest buyers becoming a less consistent source of demand.

Matt Maley, chief market strategist at Miller Tabak + Co., warned that 'the technical aspect of Bitcoin has been very negative recently,' citing its failure to reclaim key resistance levels and threatening fresh lows for 2026.