Bitcoin drops below $60,000 as Strategy selloff sparks fresh fears

Bitcoin fell more than 3% on Tuesday, dropping toward $58,000 after investors reversed their initial confidence in Michael Saylor's financing restructuring at Strategy Inc. The selloff reignited concerns that Strategy, one of the largest institutional buyers of bitcoin, may no longer provide consistent demand for the cryptocurrency. The drop reflects broader anxiety about the role of major corporate holders in sustaining bitcoin's price.