Bitcoin has slid roughly 24% over the past month and is trading about 52% below its Oct. 6, 2025 peak above $126,000, even as buyers pushed it back above $61K after dipping to just under $59,750. Peter Schiff warned on Friday that a fresh breakdown could trigger a “Crypto Black Monday,” and his X poll showed 59% of 15,700+ votes saying BTC would need to hit zero before they'd concede he was right. Bulls pointed to oversold RSI signals and model-based targets near $165,000, while traders focused on whether price can hold above the 2026 low.

Michael Saylor shared another "Bitcoin tracker" update that market observers interpret as a possible signal of a forthcoming MicroStrategy Bitcoin purchase. The chart indicates the company held 843,706 BTC as of June 7 across 110 transactions, with an average cost of about $75,701 per BTC and an estimated value near $52.2 billion.

Strategy executive chairman Michael Saylor posted "A good time to add more dots" on X after the firm's rare 32 BTC sale, reigniting talk that the company could return to buying during a pullback. Strategy still reports 843,706 BTC valued near $52.2 billion and says it sold 32 BTC for $2.5 million between May 26 and May 31 to support preferred stock distributions. Investors are also tracking MSTR around $120.44 and BTC near $62,000 as debate builds over financing, dividends, and the next disclosure.

Michael Saylor posted a “Time to add dots” chart on X, reviving speculation that Strategy could soon announce another Bitcoin purchase after a similar mid-May post preceded a 24,869 BTC buy for $2 billion. CEO Phong Le said the firm’s corporate strategy remains to increase net Bitcoin and Bitcoin per share over time, while the company sits on an unrealized loss of almost $12 billion based on its current holdings and cost basis.

Bitcoin finished the week ending June 5, 2026 down nearly 20%, marking its steepest weekly percentage fall since the FTX collapse in November 2022. After failing to reclaim levels above $82,000, BTC slid toward the $59,130 low area and later traded around $62,150, with analysts watching whether conditions resemble a late-cycle washout.

Bitcoin traded at $61,822 on June 7, 2026 at 8:35 a.m. EDT, after defending the $59,100 low while short-term momentum indicators sank into oversold territory. The setup shows RSI-14 at 24 and mixed oscillator readings, but 13 of 15 moving averages remain in sell alignment, leaving $63,000–$64,000 as the key area needed to challenge the broader daily downtrend.

Bitcoin has fallen 26.8% since May 15 and has been trading around the cycle bottom near $60,000, as selling pressure persists. On June 6, 2026, analyst Darkfost said BTC dropped below the Power Law model’s 4% quantile, a level historically tied to heavy pessimism. At the time of writing, Bitcoin was $61,592 (+1.95% in 24 hours) while daily volume fell 56.14% to $31.21 billion.

Spot Bitcoin ETFs saw their heaviest weekly net outflow on record, with $1.72 billion pulled during the latest trading week. Over the same period, Bitcoin slid from around $73,000 to as low as $59,100, while total net inflows across the ETFs fell from $59.34 billion to $53.94 billion over four weeks.