Investor panic spread through the cryptocurrency market this week after Michael Saylor’s Strategy sold 32 Bitcoin, marking the first sale of the world’s largest corporate BTC holder since early 2022.

Investor sentiment took a drastic downturn, leading to a 12% Bitcoin decline, after Bitcoin’s price rally reversed from the key $83,000 average aggregate cost basis of US spot Bitcoin exchange-traded fund (ETF) holders, placing this key cohort in unrealized loss.

Comments from investment banking giant JPMorgan’s CEO have also added to the concerns, after Dimon warned that banks will continue to “fight” ⚔️ against the current draft of the CLARITY Act, opposing the bill’s provision to enable interest payments for stablecoin holders.

However, Bitcoin holder sentiment was lifted by bullish news from over in Europe, where France-listed treasury company Capital B filed a shareholder motion to raise $122 billion in new capital through shares and other credit instruments 💡.

The initiative was seen as a constructive sign during the bear market, considering that the 25th-largest Bitcoin treasury firm is raising more capital to accelerate its Bitcoin acquisitions amid the ongoing correction.

Lastly, the Sui Foundation said it patched a critical vulnerability in its blockchain, resolving the pressing investor concerns tied to its recent blockchain downtime.

In this week’s CoinStats Scoop, you’ll find:

📊 Crypto Market Analysis And The Most Important News In Web3

₿ Michael Saylor’s Strategy Spooked Markets With 1st Bitcoin Sale Since 2022

🏦 Banks Will Keep “Fighting” Against The CLARITY Act: JPMorgan CEO

💰 Capital B To Raise $122 Billion In New Funding To Fuel Bitcoin Accumulation

🔧 Sui Foundation Patches Network Outages As SUI Token Falls 16%

🔮 Analysis And Key Events That Will Shape The Crypto Market Next Week

Michael Saylor’s Strategy Spooks Markets With 1st Bitcoin Sale Since 2022 ₿

Cryptocurrency investor fears were exacerbated this week after Michael Saylor’s Strategy recorded its first Bitcoin sale in about 4 years.

On Monday, June 1, Strategy, the largest corporate Bitcoin holder, announced the sale of 32 Bitcoins for about $2.5 million, at an average price of $77,134 per BTC, reducing its corporate holdings to 843,706, an 8-K filing with the US Securities and Exchange Commission shows 📋.

The company said it will use the proceeds to fund the distribution of its preferred stock.

The sale created widespread panic among crypto investors, as it marked Strategy’s first reported Bitcoin sale since its tax-loss harvesting transaction in 2022, when the company sold 704 BTC but repurchased about 810 BTC just two days later 🔥.

Still, some industry analysts remain concerned about Strategy’s capital-raising model through the issuance of preferred stock, fearing that the growing dividend obligations may eventually force the leading Bitcoin treasury company to sell its holdings to service its outstanding debt.

A week earlier, Strategy made a significant debt management move by buying back $1.5 billion in outstanding notes at a discount, reducing its outstanding debt to $6.7 billion tied to the 2029 senior notes.

🏦 Banks Will Keep “Fighting” Against The CLARITY Act: JPMorgan CEO

Banks and traditional finance institutions will continue fighting against the landmark U.S. crypto market structure bill known as the CLARITY Act, according to Jamie Dimon, the CEO of investment banking giant JPMorgan.

The CEO told Fox Business that banks will continue to “fight” against the current version of the Digital Asset Market Clarity Act (CLARITY), which he claimed “effectively” allows crypto companies to pay interest on user deposits and stablecoin balances.

“The banks will not accept it that way,” said Dimon, urging stablecoin issuers and crypto companies to apply for banking charters if they want to pay users interest on their holdings, he said, raising criticism of the role played by Coinbase CEO Brian Armstrong. Dimon explained: 🗣️

💬 “We will fight it; if we lose, we lose, and we will live, okay? But it will be fought. No one is going to bow down to this guy or that company, and he’s the only one, and he’s spending hundreds of millions of dollars on this thing in Washington.”

The CEO’s comments highlight the growing tensions between the crypto industry and traditional financial institutions over passing the first crypto market structure bill in the US ⚡.

The two sides have been fighting over the details of the draft bill since last year, as banks and TradFi institutions fear that allowing regulated interest payments on stablecoin holdings would diminish the role of traditional banks and lead to a bank run on deposits.

The Senate Banking Committee voted to advance the current version of the CLARITY Act in May, which still needs to pass through both chambers of Congress and be signed into law by the U.S. 🇺🇸 President.

💰 Capital B To Raise $122 Billion In New Funding To Fuel Bitcoin Accumulation

European Bitcoin treasury company Capital B launched a new initiative to approve up to $122 billion in capital-raising tools to scale up its ongoing Bitcoin accumulation.

Capital B submitted a new proposal for shareholders to approve a capital increase of up to $5.8 billion and the issuance of new credit instruments worth about $116 billion, announced Capital B’s board director of Bitcoin Strategy, Alexandre Laizet 📝.

The company’s shareholders can cast their online vote until June 17, when the company’s next general meeting is scheduled.

The motion shows that the most convicted treasury companies are pushing ahead with their Bitcoin treasury strategies and raising additional funds to accumulate BTC, despite the ongoing bear market.

Capital B was among the few Bitcoin treasury companies that continued their corporate accumulation during the downturn. Capital B purchased 4 BTC this week and bought $15.2 million in Bitcoin two weeks ago 🛒.

The treasury company raised a total of $325 million in fiat capital since its inception and is currently the 25th largest corporate Bitcoin holder, with 3,139 BTC, or $210 million, in total holdings.

Sui Foundation Patches Network Outages As SUI Token Falls 16% 🚨

The Sui Foundation has delivered a major upgrade to address the issues surrounding the three recent network outages that left the entire blockchain network down for over 15 hours across 2 days.

The Sui Network crashed on Thursday for about six hours, before two additional outages on Friday, according to the blockchain’s uptime dashboard ⚠️.

On Sunday, Sui Foundation, the non-profit behind the development of the Sui Network, said it delivered a “major upgrade” to fix the bugs that cause these outages, according to the blog post:

“As of now, validators have fully addressed the known issues caused by both the original gas-charging bug and the randomness-state bug, and network activity has resumed.”

The foundation added that the blockchain’s two recent outages stemmed from bugs introduced in its 1.72 software release, impacting gas charging functions that created negative balances that ultimately crashed the network.

However, an all-out network outage remains a concerning sign within the blockchain industry, often leading to token holders cashing out. The SUI token’s price fell by over 16% during the past 7 days, following investor concerns tied to the network’s sustainability, data from CoinStats shows 📉.

🔻 Market Overview: Bitcoin Falls Below ETF Cost Basis As A $1.3 Billion BlackRock Block Sale Leads To A Selling Streak

Cryptocurrency markets logged a significant decline as buyer-side demand started falling ahead of the cyclical summer illiquidity period.

Looking at the weekly charts, Bitcoin fell by nearly 12% while Ether logged a 9.5% decline, both falling below key psychological thresholds.

Bitcoin found a local bottom near a weekly low below $65,800, which is emerging as the next critical level for bulls to defend, according to CoinStats data 🎯.

Bitcoin’s correction occurred after a drastic decline in crypto investor sentiment, following a record-breaking $1.3 billion block sale executed through BlackRock’s IBIT Bitcoin ETF, the largest one seen to date, according to Bloomberg ETF analyst Eric Balchunas 🐋.

The massive block sale exacerbated the ongoing losing streak of the US spot Bitcoin ETFs, which logged $2.4 billion in net cumulative outflows during May and reached $1 billion in outflows in the first 3 days of June, SosoValue data shows.

Crypto exchange-traded products (ETPs) also added to the selling pressure, logging $1.67 billion in outflows during the previous week, as Bitcoin funds logged the biggest sell-off of 2026 so far, according to CoinShares.

Adding to the declining market sentiment, Bitcoin’s previous rally was rejected precisely at the $83,000 mark, which is the average aggregate cost basis of the spot Bitcoin ETF holders.

Bitcoin trading below the average cost basis of ETF buyers is a concerning sign that signals more potential selling pressure, as average ETF holders are sitting on unrealized losses.

Spot market selling also intensified, as the 7-day spot volume delta turned negative, reaching its weakest level since February, signaling that “sellers continue to dominate order books despite the recent correction,” wrote Glassnode in a weekly research report.

👀 All eyes are now on the $64,800 level, which is emerging as a critical support level with $850 million worth of cumulative leveraged long liquidations that could trigger more cascading downside for BTC.

Conversely, Bitcoin’s upside momentum remains limited until bulls push through the $67,800 level, which holds nearly $1.5 billion worth of leveraged short liquidations, according to Coinglass ⬆️.

🐦 Tweets & Memes

Bitcoin treasury firm Nakamoto bought the Bitcoin top above $118,000…🐦

Retail Bitcoin miner hits jackpot with entire Bitcoin block using just rented hash power 🏆.

🐻 The bear market could extend until early 2027, based on historical cycle patterns.

Bitcoin is too volatile for criminal use, despite what the mainstream media has been telling you…📰

Prediction market traders lost hundreds of thousands of dollars on the Strategy-linked event contract…📉

Whale wallets are preparing their next multi-million-dollar memecoin play 🐋.

Thank you for reading the weekly CoinStats Scoop Newsletter.

CoinStats will continue to guide you through the world of crypto and DeFi. We’ll see you next week for another edition of CoinStats Scoop! 😎