Can Bitcoin Price Slip Below $100K After Meta Treasury Rejection

Key Insights

• Meta shareholders rejected the Bitcoin treasury plan with over 4.98B votes against and only 3.92M in favor.
• U.S. Bitcoin ETFs saw $616.1M in outflows on May 31, following $346M the day before.
• Bitcoin price hovers at $103,874 with liquidation risk below $103,800 and resistance near $106,000.

Bitcoin price is facing renewed pressure after a wave of negative developments hit the market in the final week of May. Meta shareholders rejected a proposal to allocate part of its treasury to Bitcoin.

U.S.-listed Bitcoin ETFs also reported a massive $616.1 million outflow on the last trading day of the month. As Bitcoin trades around $103,874, traders are questioning whether the price could fall below the $100,000 mark in early June.

Meta Shareholders Reject Bitcoin Treasury Proposal

On May 30, 2025, Meta shareholders overwhelmingly voted against Proposal 13, which aimed to convert a portion of the company’s $72 billion cash reserves into Bitcoin. The proposal received only 3.92 million votes in favor.

Over 4.98 billion were cast against it. Around 8.86 million shares abstained, and 204.77 million were withheld. The proposal was introduced by Ethan Peck of the National Center for Public Policy Research. He argued that Bitcoin could serve as an inflation hedge.

However, with less than 0.1% shareholder support, Meta’s treasury approach remains unchanged. This decision follows similar rejections at Microsoft and Amazon, both of which declined to explore Bitcoin holdings in recent shareholder meetings.

Bitcoin advocates had hoped Meta’s involvement would help legitimize corporate crypto adoption. Instead, the continued resistance by large tech firms is seen as a setback for Bitcoin’s long-term institutional appeal.

Bitcoin ETFs Report Massive $616.1 Million Outflow

ETF flows show a reversal in sentiment. On May 31, U.S.-listed spot Bitcoin ETFs recorded a combined outflow of $616.1 million. It followed a $346 million outflow on May 30, marking a sharp weekly downturn.

Ark Invest’s ARKB led the losses with $120 million in redemptions, followed by Bitwise’s BITB at $35 million, and Grayscale’s GBTC at $16 million. Fidelity’s FBTC saw $14 million withdrawn.

IBIT, which remains the dominant global Bitcoin ETF, saw a mild pullback but has still attracted around $48 billion since its launch. Its total assets under management are close to $70 billion.

While IBIT has provided some stability, the overall outflows signal declining short-term confidence in Bitcoin exposure through traditional investment vehicles.

These negative flows coincided with a broader pullback in Bitcoin price, which has steadily declined over the last three days. Analysts now view $100,000 as a psychological and technical level of interest.

Liquidation Zones Show Bitcoin Price May Be Set for Volatility Near $104K

According to TheKingfisher, a crypto analytics firm specializing in liquidation heatmaps, the Bitcoin price is approaching a key level that could trigger a short squeeze. The heatmap shows heavy short liquidation zones stacked between $104,000 and $106,000.

If the price breaks above this range, a quick move toward $107,000 is possible.

The Kingfisher also shows that long liquidation levels below $100,000 are relatively light. It means any downside could happen in a gradual fashion unless new volume enters. The current price of $103,874 sits directly in the middle of the risk zone, where momentum could shift quickly in either direction.

Traders are watching the $104,000–$104,800 area as a confluence of horizontal support and an ascending trendline. If this level breaks, a retest of $101,000 or even $98,000 could follow. However, if bulls manage to regain control above $106,000, momentum may return briefly.

Bitcoin Price Hangs on Key Support with Trendline Breakdown Risk Growing

According to analysis by Bull Flash, Bitcoin is holding above a demand zone between $103,800 and $104,800, supported by an ascending trendline. This zone has previously supported the market, and it is now facing another challenge. If support is broken, the Bitcoin price might drop as low as $101,000.

According to Bull Flash, if the price falls below $105,000 monthly, there may be a revisit to $95,000 in the first week of June. A strong level of resistance is seen around $106,500–$109,500, which is an area where Bitcoin has faced rejection multiple times.

The trend is still intact, though more testing without much positive response could take away from its strength. A close below $105,000 this month may cause technical pressure to rise.

Disclaimer

In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.