Bitcoin continued to trade under the $60,000 level on Tuesday as persistent ETF outflows and cautious sentiment weighed on the market. The largest cryptocurrency fell 0.8% to $59,501.73, with a market cap of $1.19 trillion and daily trading volume of $30.62 billion. Over the past week, spot Bitcoin ETFs recorded total outflows exceeding $231 million, adding to the previous week’s $1.7 billion in withdrawals, keeping the price below the key psychological barrier.
Other major assets showed mixed performance. Ethereum edged up 0.7% to $1,591.57, while Solana advanced 2.4% to $74.04, making it the strongest performer among top coins. Hyperliquid (HYPE) surged 4.6% to $65.49, drawing notable attention. Meanwhile, BNB slipped 0.1%, XRP remained flat near $1.05, TRON dipped 1.1%, and Dogecoin dropped 0.9%. The overall market saw liquidations slow to $286 million, down from over $1 billion a week ago, and the Fear & Greed Index ticked up slightly to 15 from 12 but remained firmly in “extreme fear” territory.
In a significant corporate development, Strategy (formerly MicroStrategy) announced it paused Bitcoin acquisitions last week and instead launched a repurchase program for up to $1 billion of its digital credit securities and MSTR shares. The firm disclosed in an SEC filing that its dollar reserve rose to $2.55 billion after selling 12.7 million MSTR shares for about $1.15 billion. Under the new Digital Credit Capital Framework, the reserve will cover at least 12 months of preferred stock dividends and interest obligations. The company’s Bitcoin holdings remain intact, but the shift marks a notable pivot for the largest corporate holder of the token.
Separately, a U.S. court sentenced Chinese billionaire Guo Wengui, also known as Miles Guo, to 30 years in prison for orchestrating a $1 billion cryptocurrency fraud. Prosecutors said Guo exploited his followers by promoting investment projects, including the Himalaya Exchange ecosystem, and used the proceeds on luxury assets. He was ordered to forfeit assets and pay $889 million in restitution. The case adds to the regulatory and legal scrutiny surrounding crypto operations.
Among smaller-cap tokens, TAC led with a spectacular 167.6% surge, while Gensyn and Casper Network also posted gains of 66.5% and 50.6%, respectively, reflecting continued speculative activity in the broader digital asset space.
