1213 GMT - Strategy's next announcement regarding its bitcoin holdings will play a key role in determining whether the cryptocurrency extends its losses, Standard Chartered's Geoff Kendrick says in a note. On Monday, the bitcoin treasury company said it sold 32 bitcoin last week for about $2.5 million, its first sale of the cryptocurrency since 2022. The news has contributed to bitcoin's sharp falls this week. When Strategy last sold bitcoin it bought back more than it sold just two days later, Kendrick says. "This time I suspect the buying following the selling will be more aggressive." That would curtail bitcoin's falls, he says. Bitcoin falls 4.2% to $62,207 after reaching a four-month low of $61,344 overnight, LSEG data show. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
June 04, 2026 08:13 ET (12:13 GMT)
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