Crypto Daily｜Bitcoin Hits Lowest Level Since Oct. 2024; Strategy Shares Dive Under $100 for First Time Since March 2024

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Bitcoin Hits Lowest Level Since Oct. 2024 as Bear Market Grinds Into 8th Month

Bitcoin (BTC) dropped to $59,023.98 on Wednesday, June 24, its lowest price since Oct. 10, 2024, as a pullback in tech stocks and persistent spot ETF outflows pushed the flagship cryptocurrency deeper into its eighth consecutive month of decline.

The move marks the third time this year BTC has traded below $60,000, and extends a drawdown of roughly 52% from the October 2025 all-time high of $126,080.

Bitcoin Giant Strategy Shares Dive Under $100 for First Time Since March 2024

Shares in Bitcoin treasury giant Strategy (MSTR) fell to their lowest price in more than two years Wednesday as the price of the leading cryptocurrency sank to a two-week low—and as concerns over the $52 billion Bitcoin accumulator grow.

MSTR shares fell as low as $97.30 on Wednesday, about 30 minutes after the opening bell, and were recently trading at $98.05 per data from Yahoo Finance—a nearly 5.5% drop so far on the day.

US Could 'Erase' Its $39 Trillion Debt By Holding More Than 5% Of World's Bitcoin, Says Senator Cynthia Lummis

Sen. Cynthia Lummis (R-Wyo.) said in a Wednesday podcast that the U.S. acquiring more than 5% of Bitcoin’s (CRYPTO: BTC) supply as a strategic reserve could “erase” the country’s ballooning national debt.

In a conversation with Bitcoin Magazine host Spencer Nichols, Lummis stated that acquiring just 5% of Bitcoin’s total supply— roughly 1 million BTC—and holding it for 20 years could reduce the national debt, currently over $39 trillion, by one-third to one-half.

“And if we held even more than 5% of the world’s Bitcoin, it could actually erase our debt. So this is an important asset in a buy-and-hold strategy,” the cryptocurrency-friendly lawmaker added.

Bitcoin & Ethereum Spot ETF Flow

U.S. Bitcoin spot ETFs recorded a net outflow of $229.79 million on Wednesday. The total net asset value of Bitcoin spot ETFs stands at $76.08 billion, with the ETF net asset ratio (market value relative to total Bitcoin market capitalization) at 2.36%.