Iran and Strategy push Bitcoin below $70k for the first time in two months, investors panic

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Last Updated on 3 June 2026 by CryptoTips.eu

Bitcoin has been under pressure in recent weeks. After the largest digital currency struggled to break through the $85 level in mid-May, it’s price has been falling again in the past three weeks. Yesterday, the sale of some Bitcoins by Strategy, as well as the failure to reach a peace agreement in Iran, put further pressure on the price, which dropped below the $70k mark for the first time in two months.

At the time of writing, Bitcoin is trading at $65,800.

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Strategy

Bitcoin dropped below the psychologically important price point of $70,000 for the first time in two months following a sell transaction by Bitcoin giant Strategy, the largest Bitcoin whale among companies. Although it involves only a very small amount, investors view the transaction as a symbolic break with Strategy’s long-standing belief that Bitcoin never needs to be sold.

 

Meanwhile, the Iran war continues to put pressure on high-risk assets. US President Donald Trump is making no progress whatsoever in reaching a peace agreement with the Islamic regime, forcing traders to decipher his sometimes very confusing signals regarding the likelihood of a lasting ceasefire between the United States and Iran.

Among the altcoins, it is noticeable that Hyperliquid refuses to make the same move. Although all major cryptocurrencies are dropping 10% and are following Bitcoin’s lead, Hype is only dropping very slightly.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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