Bitcoin Falls to $58K as Strategy's STRC Preferred Shares Hit Record Low

Bitcoin dropped to $58,188, its lowest since 2024, as Strategy's STRC preferred shares hit a record low of $74.13. Over $1.44 billion in crypto liquidations occurred in 24 hours.

• Bitcoin fell to $58,188, its lowest price since 2024, before recovering slightly to $59,273.
• Strategy's STRC preferred shares hit a record low of $74.13, more than 25% below their $100 par value.
• Over $1.44 billion in crypto positions were liquidated in 24 hours, with $1.2 billion in long positions.
• Strategy's MSTR common stock fell 7% to $87.89, adding to a 45% monthly decline.
• Analysts at JPMorgan and CryptoQuant say Strategy needs to rebuild cash reserves to restore confidence in STRC.

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Last updated 26 Jun 2026