Bitcoin, the largest cryptocurrency by market capitalization, reached a one-month low of $63,300 on Friday, marking the lowest level since May 15. The decline coincides with a net outflow of $106 million from Bitcoin exchange-traded funds (ETFs) on June 21, and a total weekly outflow of $545 million, indicating cooling institutional interest.
Despite the downturn, MicroStrategy cofounder Michael Saylor responded with optimism and humor, sharing a meme on X (formerly Twitter) featuring Cookie Monster gulping down Bitcoins, captioned “New logo?” Saylor’s lighthearted approach serves as a reminder to the crypto community to focus on Bitcoin’s long-term potential amid market volatility.
