Bitcoin Slides Toward $70,000 as Strategy Sells 32 BTC, Geopolitical Tensions Intensify

According to The Block, Bitcoin fell 4.2% over the past 24 hours to $70,587 late Monday, as rising U.S.-Iran tensions and Strategy's disclosure of a 32-bitcoin sale pressured risk assets. Ethereum dipped 1.1% to $1,986, while BNB, XRP, and Solana declined 2.4%, 3.8%, and 2.8% respectively.

Geopolitical uncertainty intensified after Iran suspended negotiations with the U.S. in protest of Israel's military offensive in Lebanon. Separately, Strategy disclosed it sold 32 BTC at an average price of $77,135 between May 26 and May 31, marking the firm's first bitcoin sale since December 2022. While analysts noted the sale was relatively modest in size, its psychological impact on market sentiment proved significant, with traders scrutinizing whether Bitcoin can hold the $70,000 support level amid ongoing geopolitical volatility.