Sign up now for CryptoCodex<\/a>\u2014A free crypto newsletter that will get you ahead of the market<\/p>\n The bitcoin price has broken with the high-growth technology stocks it was previously trading with, falling even as the likes of Elon Musk\u2019s SpaceX climb ahead of what could be a massive game-changer<\/a>.<\/p>\n Now, as analysts with JPMorgan flag what could be the next bitcoin price catalyst<\/a>, bitcoin and crypto market watchers are warning a break below $60,000 could trigger a \u201ccascade.\u201d<\/p>\n Sign up now for the free CryptoCodex<\/a>\u2014A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin price and crypto market swings<\/p>\n ForbesJPMorgan Just Warned A Bitcoin Nightmare Is Suddenly Coming True As Price Crash Fears SurgeBy Billy Bambrough<\/a> U.S. president Donald Trump and his family have gone all in on bitcoin and crypto\u2014though they have failed to help the bitcoin price, which has suffered a crash.<\/p>\n Getty Images<\/p>\n \u201cThe asymmetry is to the downside,\u201d analysts with the Bitfinex bitcoin and crypto exchange said in emailed comments, pointing to Friday\u2019s $10.6 billion quarterly options expiry as acting as a bitcoin price magnet.<\/p>\n \u201cA sustained move below the $60,000 put wall pushes deeper into negative gamma and risks a cascade toward $54,000 to $56,000 near the realised price. An upside squeeze into $66,000 to $68,000 is capped by offers and the flip above.\u201d<\/p>\n 06\/26 update: Shares of bitcoin-buyer Strategy have fallen sharply this week, plunging to $85 and leaving Michael Saylor\u2019s near-850,000-bitcoin giant nursing stock price losses of 85% from its last summer peak.<\/p>\n “Volatility tests every capital structure. Strategy remains focused on bitcoin, disciplined capital allocation, credit quality, and long-term value creation,” Saylor posted<\/a> to X. “We appreciate our investors and will continue to execute with transparency and resolve.”<\/p>\n Meanwhile, the company’s controversial perpetual preferred stock, known as stretch, is trading at all-time lows of $75, about 25% below its intended $100 level.<\/p>\n “The wobbly behavior of Strategy continues to scare the market, harkening back to other major blow ups the market has seen,” Alex Blume, the chief executive of bitcoin and crypto investment advisor and derivatives giant Two Prime, said in emailed comments.<\/p>\n \u201c[Strategy\u2019s] preferred equity is trading now at 80 cents on the dollars and their stock has collapsed below $100. The tools available for them to prop up their ponzi scheme are dwindling.\u201d<\/p>\n However, Blume remains upbeat, calling it \u201ca good time to buy\u201d bitcoin. <\/p>\n \u201cStrategy is not a forced seller of actual bitcoin for a long time,\u201d Blume said. “The current drawdown, in relation to Strategy uncertainty, is largely emotional, but not truly a structural issue.\u201d<\/p>\n Saylor hasn’t been able to escape suggestions that Strategy could become this “cycle’s” FTX or suffer the same fate as the terraUSD so-called algorithmic stablecoin, and its support coin luna.<\/p>\n \u201cBitcoin\u2019s sharp fall coincided with the opening of the U.S. market and a further deviation from par value of Strategy\u2019s [stretch] preference shares,\u201d Alex Kuptsikevich, the FxPro chief market analyst, said via email. <\/p>\n \u201cConcerns are mounting about Strategy\u2019s financial health, as it lacks sufficient dollar reserves to pay dividends and reduce its debt burden, potentially prompting the sale of part of its bitcoin holdings”\u2014something that could trigger a bitcoin price spiral as traders rush to sell ahead of the largest corporate holder of bitcoin. <\/p>\n Meanwhile, U.S. president Donald Trump has refused to sign Congress\u2019 bipartisan housing bill, which includes a four-year ban on a central bank digital currency (CBDC), saying he won\u2019t sign it until the voting identification Save America Act is passed.<\/p>\n \u201cToday\u2019s housing news conference and signing is hereby cancelled until such time as we pass the desperately needed Save America Act, which I consider to be a national emergency,\u201d Trump posted<\/a> to his Truth Social.<\/p>\n![\"Donald](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/1782539184_83_0x0.jpg\")
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