Bitcoin Slides Toward $70,000 as Geopolitics and Strategy's BTC Sale Weigh

The crypto market opened the week under heavy selling pressure, with Bitcoin ($BTC) drifting toward the $70,000 mark. Analysts cite rising US-Iran tensions and Bitcoin sales by corporate holder Strategy as the main culprits. According to market data, BTC fell 4.2% over the past 24 hours, dropping to $70,111.

Ethereum ($ETH), the second-largest cryptocurrency by market cap, slipped 1.1% to $1,956 over the same period. BNB shed 2.4%, XRP 3.8%, and Solana 2.8% — a broadly red session across majors.

Zeus Research analyst Dominick John said one of the main drivers of the sell-off was geopolitical risk in the Middle East. He noted that renewed uncertainty around US-Iran negotiations, alongside concerns about potential instability near the Strait of Hormuz, was pushing investors out of risk-on assets.

Tensions escalated after Iran suspended talks with the US in protest of Israel's military operations in Lebanon. US President Donald Trump insisted negotiations were ongoing, though international media reported friction between Trump and Israeli Prime Minister Benjamin Netanyahu.

Adding to the pressure, Strategy disclosed it sold 32 $BTC between May 26 and May 31 at an average price of $77,135. The sale, worth roughly $2.5 million, marked the company's first Bitcoin disposal since December 2022. In the grand scheme of things, 32 BTC is rounding error — but for a firm whose thesis is never selling, the symbolism lands harder than the number.

CoinEx Chief Analyst Jeff Ko put it bluntly: "The amount sold may be small, but the message sent to the market is much bigger." Other experts agree, noting that a company built around treating Bitcoin as a long-term reserve asset trimming its stack tends to dent investor psychology, even when the volume is modest.

Analysts now say the spotlight is on the $70,000 level, and whether this psychological support holds could dictate the short-term direction. This is not investment advice.