The drop marked Bitcoin's lowest level since April 5, and traders cited selling tied to Strategy (a publicly traded company known for large Bitcoin holdings) as downside targets moved below $60,000 and, for some, $50,000.
Bitcoin fell to $66,900 after social media sentiment turned to Extreme Fear (a strongly pessimistic market reading), marking the asset's lowest level since April 5. Traders turned more bearish after the decline, and selling linked to Strategy (a publicly traded company known for large Bitcoin holdings) was cited as a key trigger. The reported data also showed many market participants were expecting Bitcoin to fall below $60,000, with some looking for levels below $50,000, highlighting weaker short-term confidence across the crypto market.