Michael Saylor Calls Bitcoin Bottom at $60K After 6-Month Slump

• Saylor sees recovering institutional flows and macro shifts as signals of Bitcoin’s next phase.
• Market remains cautious as leverage risks and corporate exposure draw scrutiny.

On May 22, 2026, Michael Saylor told CNBC that Bitcoin has likely reached its bottom after sliding from a peak of $125,000 to near $60,000 in the past six months. Saylor described the current stage as a “spring” for Bitcoin, suggesting that improving macroeconomic factors and renewed institutional demand could set the stage for recovery.

Saylor emphasized that Strategy, the largest corporate Bitcoin holder, remains committed to its “never sell” policy and currently holds over 840,000 BTC. The company continues to accumulate Bitcoin and plans to purchase newly mined coins until 2140.

Market sentiment is still bearish, reflected in lower trading volumes and investor fear, as measured by the Fear and Greed Index. Blockchain analytics support Saylor’s view, pointing to late-stage bear market characteristics. Indicators such as the MVRV ratio are moving toward fair value, and derivatives open interest has rebounded following a recent period of deleveraging.

Nevertheless, leverage-linked risks persist. CNBC highlighted that a drop below major support levels could trigger as much as $1.5 billion in long liquidations. Strategy’s significant balance sheet exposure and reliance on leveraged funding have drawn concern over its ongoing accumulation strategy.

Macroeconomic analysis by Victoria points to expected Federal Reserve rate cuts, continued ETF inflows, and expanding credit markets as drivers of institutional participation. While speculative positioning is on the rise, ongoing volatility and the risk of further deleveraging continue to challenge a sustained recovery.

Institutional buying and an improved macro backdrop support Saylor’s optimistic outlook for Bitcoin, but significant leverage risks and Strategy’s aggressive accumulation remain under careful watch. The market appears to be positioning for a cautious rebound as institutional involvement grows.

As of May 22, 2026, 15:09 UTC, Bitcoin (BTC) is trading at $76,803.018 with a 0.058% change in 24-hour trading volume, according to CoinMarketCap.