June 3: Iran Sanctions, and Crypto Treasury Weakness Drive
Brief Summary:
Bitcoin briefly fell below $66K this morning before rebounding toward roughly $66,800.
Ethereum fell below $1,900, confirming weakness after losing the $2,000 level earlier this week.
Bitcoin is down nearly 12% over the past week as ETF outflows continue to accelerate.
U.S. spot Bitcoin ETFs recently posted a record 10-day outflow streak totaling $2.97 billion.
Crypto-linked stocks are also under pressure, including Strategy, Coinbase, and Circle.
Strategy’s recent sale of 32 BTC for about $2.5 million continues weighing on sentiment because it broke the company’s long-standing…
The skinny
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