Category: Bitcoin News

Casascius owner redeems $1.8M Bitcoin hidden since 2011

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A Casascius physical Bitcoin containing 25 BTC has been redeemed after nearly 15 years, unlocking cryptocurrency now worth about $1.78 million. Summary A Casascius physical Bitcoin containing 25 BTC was redeemed after nearly 15 years, unlocking holdings now worth about $1.78 million. The coin came from a 2011 Series 1 batch, with 236 of 345 coins now redeemed. The activation arrives as dormant Bitcoin wallets face growing legal and market scrutiny. According to data tracked by Casascius Tracker, the coin was activated on-chain on June 3, giving its holder access…

Strategy’s high-yield STRC bet faces trouble after Bitcoin sale

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STRC has fallen below its $100 reference price this week after Strategy sold a small amount of bitcoin to help fund preferred stock distributions. Summary STRC fell below its $100 reference price after Strategy sold bitcoin to help fund preferred stock distributions. Strategy sold 32 BTC for about $2.5 million in its first bitcoin sale since December 2022. STRC’s annualized dividend rate has risen to 11.5% after repeated pressure below its par value. DeFi products tied to STRC also declined as Saturn sUSDat and Apyx apxUSD lost value this week.…

Cathie Wood’s $1.5M Bitcoin call triggers fresh gold vs crypto debate

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Cathie Wood has reignited the long-running debate between Bitcoin and gold after raising her bullish Bitcoin forecast to as much as $1.5 million, drawing a sharp response from billionaire mining investor Frank Giustra. Summary Cathie Wood reiterated a $730,000 base-case and $1.5 million bull-case Bitcoin target, arguing institutional adoption remains in its early stages. Gold advocate Frank Giustra rejected Wood’s forecast, saying Bitcoin will not reach $1 million and renewing the debate over Bitcoin versus gold as a store of value. Bitcoin traded near $67,000 after a sharp pullback from…

Bitwise Model Shows Bitcoin Is Deeply Underpriced at $224K Fair Value Amid Debt Crisis – Bitcoin News

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Key Takeaways Bitcoin retraced to $72K in May after Bitcoin ETP outflows reached $1.031 billion in the second half of the month. Bitwise Europe data shows long-term holders reached an all-time high of 14.85M BTC, equal to 74.3% of supply. The $78K–$85K zone remains the key level to watch, with Polymarket odds for CLARITY Act passage in 2026 at 75%. Bitcoin Hit $83K Then Crashed to $72K — Here Is What Flipped The month opened with bitcoin crossing $80,000 for the first time since late January. The initial move was…

Michael Saylor teases Bitcoin comeback days after Strategy sale

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Michael Saylor has reignited speculation about Strategy returning to Bitcoin purchases after the company sold 32 BTC for roughly $2.5 million last week. Summary Michael Saylor’s latest “₿ack to Work” post has sparked speculation that Strategy may resume Bitcoin purchases. Citigroup said spot Bitcoin ETF outflows have weighed on BTC prices more than Strategy’s recent sale. While Strategy reduced its holdings, Strive added 2,500 BTC and expanded its fundraising plans by $4.2 billion to support further Bitcoin acquisitions. In a June 3 X post, Saylor shared a short message reading…

Bessent says U.S. Bitcoin Reserve is moving into new ground

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Treasury Secretary Scott Bessent has told senators that the Trump administration remains committed to expanding the United States’ Strategic Bitcoin Reserve while pressing Congress to pass major crypto legislation this summer. Summary Treasury Secretary Scott Bessent said the Trump administration remains committed to expanding the U.S. Strategic Bitcoin Reserve. Bessent told senators that the reserve needs durable rules because it involves new technology and new legal ground. The Strategic Bitcoin Reserve was created by executive order and currently holds Bitcoin from criminal forfeitures and seizures. Bessent made the remarks on…

Bitcoin miners face fresh pressure as BTC nears key support despite $1B May revenu

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Bitcoin miners have entered June with revenue above $1 billion for the first time in four months, but falling Bitcoin prices are already putting renewed pressure on mining economics. Summary Bitcoin miner revenue topped $1.08 billion in May, the highest level since January. Hashprice fell nearly 18% in a month as Bitcoin hovered near the $65,000 support zone. A projected 9% difficulty cut may ease pressure on miners if current conditions persist. According to data from Newhedge, miners generated $1.086 billion in revenue during May, the highest monthly total since…

Bitcoin Fear Index Crashes to 11 as Traders Debate $50K Floor

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Key Takeaways The Crypto Fear and Greed Index dropped to 11 on June 3, 2026, as bitcoin traded at $65,853 at 1 p.m. EDT, down roughly 47% from its 2025 peak over $126,000. Blackrock’s IBIT led U.S. spot bitcoin ETF redemptions, with outflows topping $2 billion across recent sessions and single days exceeding $600 million. Traders are watching $65K support closely, with $50K discussed as a potential capitulation floor and the 200-week moving average near $60K to $61K as the next key level. Fear Takes Over Bitcoin is down roughly…

Citigroup blames ETF exodus for Bitcoin drop, not Strategy sale

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Bitcoin’s recent decline has been driven mainly by nearly $3.8 billion in spot ETF outflows rather than Strategy’s sale of 32 BTC, according to analysts at Citigroup. Summary Citigroup said Bitcoin’s recent drop was driven more by ETF outflows than Strategy’s 32 BTC sale. U.S. spot Bitcoin ETFs recorded nearly $4 billion in net outflows between May 15 and June 2. Citi sees the CLARITY Act as a potential catalyst and gives it a roughly 50% chance of passing. In a recent note, Citigroup analysts said investors may be placing…

Bitcoin Drops 10% in 3 Days, Falls Below $66K as $500M Liquidation Wave Hits

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Key Takeaways Bitcoin slid under $66,000 on Wednesday, wiping out its entire April rally and hitting an intraday low of $65,362. Over $1 billion in total crypto positions were liquidated over two days, led heavily by long bets. Strategy’s shock sale broke its HODL streak, threatening to pull bitcoin down toward $60,000 next. Bitcoin Erases April Gains Bitcoin’s downward slide continued on Wednesday as the cryptocurrency dipped below $66,000, erasing its April gains. The digital currency plunged from just over $67,700 to an intraday low of $65,362—a loss of more…