Bitcoin falls below $60,000, and the major buyer Strategy reforms the financing model, intensifying market anxiety.

Bitcoin fell 3.5% on Tuesday to nearly $58,000, as investors reversed their initial confidence in Michael Saylor's Strategy Inc. financing reform bid. This sparked new concerns that the company, one of the largest buyers of the cryptocurrency, may no longer be a stable source of demand. Strategy's stock fell 6%, wiping out half of Monday's gains, after the company announced a comprehensive restructuring of its capital structure behind its bitcoin strategy. While investors initially welcomed the prospect of stock buybacks and increased cash reserves, the focus quickly shifted to the company gaining new flexibility to sell bitcoin and prioritize balance sheet management over asset accumulation.