Bitcoin 6falls below $ million; caution for MSTR, BITO, and Bullish

The cryptocurrency market fell sharply in the summer of . 2026A sharp decline in the cryptocurrency market was confirmed. 2025After recording an all-time high in , 8month, a shift to a downward trend has been confirmed. Investors are witnessing increased volatility over the short term.

Bitcoin fell below $ million. 6Major altcoins also declined. The drop in trading prices was accompanied by selling pressure across the market.

Total cryptocurrency market capitalization fell from $ 4trillion 4,000billion to below $ 2trillion 5,000billion. The aggregated market-capitalization change shows the market contraction. Simultaneous declines were observed across multiple data indicators.

The reasons cited for the decline include institutional risk reduction, selling for financial purposes, geopolitical tensions, and tight monetary policy. Moves to liquidate holdings have been reported among institutions and companies. This has reduced short-term liquidity.

Individual companies have also been affected. MicroStrategy (MSTR) sold Bitcoin for the first time since2022year to cover its dividend obligations. The company disclosed changes in its holdings. The sale was reflected in the company’s financial disclosure.

Bullish Inc. has been trading below its IPO price since going public, while trading volume has declined. The company’s trading activity has fallen below previous levels. Its share price has been set at a level below the IPO price.

ProShares’ Bitcoin futures ETF, BITO, faces the risk of weakening returns over time due to the characteristics of its futures-based structure. With the emergence of spot-based Bitcoin ETFs, structural differences between futures-based products have been discussed. Fund structure and management methods have been cited as investor concerns.