Strategy Stock Drops As Bitcoin Selloff Continues - Strategy (NASDAQ:MSTR)

Strategy’s shares are nearing critical lows as the ongoing Bitcoin selloff weighs on crypto-linked equities. Bitcoin fell below $60,000 on Wednesday, extending weakness across many crypto-exposed stocks. K33 Research reported that products tied to Bitcoin recorded their first negative one-year flow reading since November 2023, with rolling one-year notional flows at negative 1,176 BTC as of June 18, signaling weakening demand. Strategy also faces added pressure from its STRC preferred stock, which fell below $90 for the first time since launch; K33 noted annual dividend obligations of about $1.7 billion. K33 estimated Strategy has roughly ten months of dividend coverage after a recent $300 million capital raise, though it is described as far from being forced to sell Bitcoin. As of publication Wednesday, MSTR was down 8.48% to $95.03, trading near new 52-week lows, with RSI at 28.27 and key support cited at $103.52.