Bitcoin Price Plunges Below $62,000, Erasing Months Of Gains

Bitcoin fell below $62,000 on Wednesday night, erasing months of gains and wiping out a loss of more than $5,300 in the intraday session, a decline of nearly 8% in 24 hours. Many analysts believe the market's confidence broke after a Monday SEC filing revealed that Strategy, led by co-founder Michael Saylor, sold 32 Bitcoin between May 26 and May 31 for about $2.5 million. The article also reports that U.S. spot Bitcoin ETFs logged an 11-to-12 day streak of net outflows totaling about $3.45 billion, with May outflows of $2.30 billion, the worst month of 2026.