Bitcoin's recent slide toward the $60,000-$62,000 range has pushed 10.46 million BTC into unrealized loss, with underwater supply exceeding coins in profit for the first time this cycle. The MVRV Ratio has fallen to 1.1, while long-term holders have reportedly shifted back to net accumulation, absorbing about 30,000-35,000 BTC over 30 days. The setup resembles prior cycle-bottom conditions, but a durable recovery still depends on sustained demand.

On June 7, Strategy (NASDAQ: MSTR) executive chairman Michael Saylor posted the firm's Bitcoin accumulation chart, a move traders read as a hint the company could add to its BTC position. The signal comes as Strategy is carrying roughly $11 billion in unrealized losses while holding about 843,706 BTC, with an estimated average cost of $75,700 per coin.

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.