Morning Minute: Bitcoin Falls Below $67k as MSTR Plummets
Bitcoin dropped below $67,000 amid more than $1.4 billion in crypto liquidations, driven by a 10-day Bitcoin ETF outflow streak topping $3 billion and Strategy’s first Bitcoin sale in four years. Strategy shares fell over 9%, more than 70% from their 52-week high, while its STRC product slipped below par, threatening the company’s ability to issue shares efficiently to fund Bitcoin buys and preferred dividends. Cash reserves now cover only about six months of dividend obligations, making near-term Bitcoin demand less clear. Bernie Sanders and Elizabeth Warren urged the Labor Department to reject a rule easing crypto access in 401(k)s, arguing it weakens fiduciary standards and increases retirement risk. Coinbase Ventures bought Ethena’s ENA on the open market ahead of a new onchain savings product launch, sending ENA up 20%. The US Treasury also sanctioned four major Iranian crypto exchanges, escalating pressure on Iran’s digital asset network.
