Matt Cole of Strive and former Binance CEO Changpeng Zhao (CZ) pushed back against claims that Bitcoin is "dead" on Monday, with BTC trading around $62,600 and still roughly 50% below its October 2025 high above $126,000. Strive said it added 32 BTC for about $2.1 million at an average of roughly $63,911 per coin, while a Bernstein note tied weaker crypto flows to capital rotating into AI.

Bitcoin’s combined spot and perpetual-futures demand has slid toward -650,000 BTC, a level seen only three times since 2019, keeping market conditions fragile despite improving valuation signals. The CVDD-to-price ratio has risen to 0.73 versus a historical cycle-bottom area near 0.85, with the CVDD floor near $46,000 on June 9 and projected bottoming zones cited at $52,000–$59,000. Liquidity also remains under pressure, with more than $1.8 billion in net crypto ETF outflows over the past week and stablecoin supply down by more than $3 billion.

Bitcoin was trading around $62,950 at the time of writing as buyers attempted to keep price action above $60,000 following several days of heavy selling. A daily-chart roadmap from on-chain analyst VoidOnChain outlines a potential sequence that starts with a break below $60,000, then targets $53,000 and $47,000 before any broader rebound is considered.

Bitcoin slipped under $61,000 on Tuesday before rebounding to around $61,700, a 2.9% daily decline that pushed its market cap from $1.27 trillion to about $1.24 trillion. The move sparked $467.5 million in crypto liquidations, including $104 million in BTC longs and nearly $27 million in BTC shorts. Glassnode said the reset left more than 8 million bitcoin held at unrealized losses.

On June 8, 2026, Strategy bought 1,550 BTC, bringing its Bitcoin treasury to 845,256, while BTC traded around $63,000 after dipping below $60,000 the prior Friday. The company also lifted its dollar reserve by $100 million to $1 billion, but markets showed little reaction as attention stayed on ETF flows and upcoming U.S. macro catalysts.

Arthur Hayes said in his June 9 essay "Reality Test" that an AI-led equity selloff could spill into crypto first, with Bitcoin only benefiting later from any liquidity response. He wrote that Maelstrom has reduced several non-core crypto holdings while keeping Bitcoin and Ether, and argued that oil-market stress tied to the US-Iran conflict and reduced Strait of Hormuz traffic could raise inflation and pressure the AI trade. At press time, BTC was $62,638.

Checkonchain founder James Check argues that as money rotates into AI equities and high-growth IPOs, bitcoin can become the market's most underowned asset and face less forced selling when the cycle turns. He points to a "time pain" phase that slowly removes impatient holders before any major move, while Wall Street signals include Bank of America triggering about 70% of its bear-market indicators and cutting its S&P 500 year-end target to 7,100.

Coinbase institutional strategy head John D'Agostino said long-term buyers such as sovereign wealth funds and family offices are not shaken by bitcoin's pullback and are willing to add exposure at lower prices. He cited interest from UAE-based family offices and state-linked investors after BTC slipped to a 2026 low of $59,100, even as broader crypto market cap fell below $2.1 trillion and the fear and greed index hit 8.