Bitcoin Sinks Under $60K as Strategy Shares Plummet to Two-Year Low

Bitcoin (BTC) dropped below $60,000 for the second time this month on June 24, while shares of Strategy, the largest corporate holder of Bitcoin and owner of BTC, tumbled to a two-year low. The decline in value came as broader risk markets rallied, with the Nasdaq up 0.8% at midday.

The drop in Bitcoin's price was accompanied by falls in gold and oil prices, with both below key levels: gold under $4,000 per ounce and oil below $70 per barrel.

Strategy shares fell to as low as $97.30 on June 24 before trading near $98.05, a decline of nearly 5.5% on the day. The stock has fallen about 20% over the past week and more than 38% over the past month.