What caused the Bitcoin crash this week?
Last Updated on 6 June 2026 by CryptoTips.eu
It is clear by now: Bitcoin crashed this week. The price of the largest cryptocurrency dropped from $75,000 to $60,000 in just a few days, taking most altcoins with it. Hyperliquid and ZCash dropped relatively quickly after Arthur Hayes announced that he expects a further decline for Hype and a bug was found in the privacy coin.
Strategy
So, why it happened this week in particular is today’s question. The answer is more than likely: the sale of a few Bitcoins (32 in total) by Strategy at the beginning of the week. That meant less than 0.0004% of all their Bitcoins in possession, but indicated that founder Michael Saylor’s mantra to ‘never sell Bitcoin’ is no longer sacred for him.
That, in turn, led to a slight panic in the market which caused a snowball effect. After breaking through $70k on Tuesday, a test of $65k followed as early as Wednesday, and $60k was touched on Friday.
Strategy founder Michael Saylor, formerly a hero to crypto fans, is now seen as the reason for the crash. He responded to the decline and suggested that the massive scale of investments in AI is the primary cause.
However, analysts and commentators point out that this is already the second time Strategy has done this (be a net seller of Bitcoin) and that the previous time the company turned out to be a net buyer following the crash that followed such a sale. Some therefore believe it is possible that Strategy simply wanted to influence the price for a moment.
The theory suggesting that a lot of money is flowing out of crypto and being put into the upcoming tech IPOs of SpaceX, Anthropic, and OpenAI is probably a bit more logical, I suspect.
It’s unclear where we go from here, but in any case volatility is definitely back.
