Capital rotation into artificial intelligence may have played a bigger role in 
Bitcoin&#8217;s latest selloff than most market watchers initially assumed. Michael 
Saylor, whose company Strategy recently sold a portion of its Bitcoin 
holdings, pushed back on criticism and pointed instead to an unprecedented 
flow of money into AI infrastructure as a key factor behind the drop. Related 
Reading: Bitmine Seeks $300M Raise To Accelerate Ethereum Accumulation 
Strategy Saylor Pushes Back On Blame Strategy&#8217;s Bitcoin sale briefly made 
Saylor a target. TV personality Jim Cramer went as far as to say Saylor had 
&#8220;murdered Bitcoin,&#8221; a claim Saylor denied outright. He argued that capital 
markets have been funding the AI buildout at historic scale — roughly $400 
billion over six months — and that the pressure on Bitcoin was a rotation of 
capital, not a sign of structural damage to the asset. SBI Holdings Chair 
Yoshitaka Kitao echoed that view, pointing to the upcoming IPOs of SpaceX, 
Anthropic, and OpenAI as likely draws pulling money away from crypto. Jobs 
Data Delivers The Blow The immediate trigger, however, was a US jobs report 
that caught markets off guard. The Bureau of Labor Statistics reported non- 
farm payrolls rose to 172,000 in May 2026, more than double the Wall Street 
estimate of 85,000. The unemployment rate held steady at 4.3%. That reading 
spooked investors. BNP Paribas said the data opens the door to as many as 
three Federal Reserve rate hikes, a scenario that historically weighs on risk 
assets like Bitcoin. From $62,500, BTC fell sharply to around $59,000 
following the release. At the time of reporting, Bitcoin was trading at 
$59,990, down 6% in 24 hours — its lowest price since October 2024. ETF 
Outflows Add To The Pressure Spot Bitcoin ETFs have now recorded 14 
consecutive sessions of outflows, with cumulative negative flows approaching 
$5 billion. Bitget CEO Gracy Chen identified those outflows as a significant 
factor in the broader crypto market decline. 那个说过卖肾不卖币的男人终于都卖币了 
现货ETF连续13天净流出，累计$43.7亿，是历史最长连续流出纪录 BTC跌穿了月线EMA50支撑的$65K 
我不是在看空。我只是觉得，该说的风险不能装没看见。… https://t.co/Sj0Y8zanys pic.twitter.com/2f0QxTKJYM 
— Gracy Chen @Bitget (@GracyBitget) June 4, 2026 On Friday alone, Bitcoin saw 
$545 million in total liquidations, according to CoinGlass data. Long 
positions accounted for $444 million of that figure, meaning a wave of 
automated selling hit the market as prices fell through key levels, 
compounding the downward move. Related Reading: XRP Monthly RSI Drops To All- 
Time Low As Market Watches For Confirmation Whether the $59,000 zone holds as 
support remains to be seen. The combination of macro pressure, sustained ETF 
redemptions, and shifting capital flows has left the market on edge. Featured 
image from Unsplash, chart from TradingView

Capital rotation into artificial intelligence may have played a bigger role in Bitcoin&#8217;s latest selloff than most market watchers initially assumed. Michael Saylor, whose company Strategy recently sold a portion of its Bitcoin holdings, pushed back on criticism and pointed instead to an unprecedented flow of money into AI infrastructure as a key factor behind &#8230;

Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline

The proposed crypto tax reforms could significantly ease compliance burdens, 
fostering broader adoption and reshaping digital asset economics.
The post House Ways and Means Committee circulates seven digital asset tax 
bills ahead of June 9 hearing appeared first on Crypto Briefing.

The proposed crypto tax reforms could significantly ease compliance burdens, fostering broader adoption and reshaping digital asset economics. The post House Ways and Means Committee circulates seven digital asset tax bills ahead of June 9 hearing appeared first on Crypto Briefing.

House Ways and Means Committee circulates seven digital asset tax bills ahead of June 9 hearing

The shift of liquidity from the Fed&#8217;s facility to risk assets may increase 
market volatility and influence investment strategies.
The post Federal Reserve&#8217;s reverse repo facility drops to $761M as liquidity 
drains toward risk assets appeared first on Crypto Briefing.

The shift of liquidity from the Fed&#8217;s facility to risk assets may increase market volatility and influence investment strategies. The post Federal Reserve&#8217;s reverse repo facility drops to $761M as liquidity drains toward risk assets appeared first on Crypto Briefing.

Federal Reserve’s reverse repo facility drops to $761M as liquidity drains toward risk assets

Robust job growth and stable unemployment may deter rate cuts, potentially 
impacting investment strategies and crypto market dynamics.
The post American economy adds 172,000 jobs in May as unemployment holds at 
4.3% appeared first on Crypto Briefing.

Robust job growth and stable unemployment may deter rate cuts, potentially impacting investment strategies and crypto market dynamics. The post American economy adds 172,000 jobs in May as unemployment holds at 4.3% appeared first on Crypto Briefing.

American economy adds 172,000 jobs in May as unemployment holds at 4.3%

The surge in semiconductor stock buying highlights potential risks of 
overexposure and volatility for retail investors as momentum may wane.
The post EToro reports record retail investor buying in semiconductor stocks 
in May 2026 appeared first on Crypto Briefing.

The surge in semiconductor stock buying highlights potential risks of overexposure and volatility for retail investors as momentum may wane. The post EToro reports record retail investor buying in semiconductor stocks in May 2026 appeared first on Crypto Briefing.

EToro reports record retail investor buying in semiconductor stocks in May 2026

Public accusations and retractions by influential figures can undermine trust 
and highlight the importance of thorough due diligence in investments.
The post Dragonfly GP Tom Schmidt calls Nova Markets team &#8216;huge scammers,&#8217; 
then partially walks it back 52 minutes later appeared first on Crypto 
Briefing.

Public accusations and retractions by influential figures can undermine trust and highlight the importance of thorough due diligence in investments. The post Dragonfly GP Tom Schmidt calls Nova Markets team &#8216;huge scammers,&#8217; then partially walks it back 52 minutes later appeared first on Crypto Briefing.

Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline

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