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<a href="https://jpyxx.com/btc-usd/">Bitcoin</a> Price Drops Below $66,000 While Massive Selloff Leads $1.86B in Liquidations

On June 3, 2026, Bitcoin’s price dropped significantly, briefly falling to around $65,372 before quickly recovering to over $67,000 within an hour.

The cryptocurrency’s price dropped sharply, falling over 6% in one day and more than 12% for the week. This break below key support levels was caused by a combination of factors: large investors selling off holdings, concerns about limited supply, and a surge in forced selling.

Despite stable performance in traditional markets, Bitcoin experienced a drop in value due to low trading volume during the summer. This erased its recent gains and showed it remains sensitive to price drops after its high point in 2025.

Over the last 24 hours, the price drop caused $1.86 billion worth of cryptocurrency to be liquidated, meaning positions were automatically closed due to losses. Bitcoin made up the largest share of these liquidations, totaling $896.40 million, and most of these were bets that the price would go up (long positions).

Record ETF Outflows Drain Demand

The price decrease happened at the same time as large investors selling off their Bitcoin holdings. U.S. Bitcoin ETFs continued to experience net outflows into early June, meaning more Bitcoin was leaving than entering these funds.

On June 2nd, 2026, the funds experienced a large outflow of $519.19 million, continuing a trend from the previous day when $483.76 million left the funds. As a result, the total value of all spot Bitcoin ETFs has dropped to $85 billion, a considerable decrease from over $100 billion earlier in the year.

May experienced consistent and significant selling, with daily outflows often ranging from $200 to $700 million. This ongoing trend has eliminated a major source of institutional buying support that previously helped to limit price declines, effectively undoing the strong investment gains seen in 2025 and the beginning of 2026.

The recent drop in Bitcoin’s price was largely driven by sales from funds like BlackRock’s iShares Bitcoin Trust (IBIT). These sales happened at a time when trading was already slow for the summer, which made the price fall even faster. This decline broke through several key price levels that usually would have provided support.

Mt. Gox Transfers and MicroStrategy Sale Fuel Supply Anxiety

The recent price drop happened for several reasons, including global uncertainties and changes in how the market is behaving. It got worse when the Mt. Gox bankruptcy estate moved 10,306 Bitcoin (around $731 million) on June 2nd, making people worry that creditors would start selling their Bitcoin. While it was expected that any sales would be slow, the sudden appearance of these long-held Bitcoins created a lot of selling pressure.

Adding to the changing story around Bitcoin, Strategy (previously known as MicroStrategy) recently sold about 32 Bitcoin for $2.5 million to help cover payments. While this is a small amount compared to the over 843,700 Bitcoin they still hold, it was unexpected from a company known for simply *holding* Bitcoin, and it worried some investors.

$1.86 Billion Liquidation Storm Wipes Out Bulls

Over the last 24 hours, crypto markets experienced significant liquidations, reaching a total of $1.86 billion. Bitcoin led the losses with $896.40 million liquidated, considerably more than Ethereum’s $482.17 million and Solana’s $91.46 million, according to data from CoinGlass.

Traders who bet prices would rise (long positions) experienced the majority of losses, totaling over $1.66 billion, compared to around $200 million in losses for those who bet prices would fall (short positions) across the entire market.

A wave of forced selling intensified the price decrease, typical of a market downturn where traders reduce their risky positions. As heavily invested buyers were forced to sell, the number of Bitcoin futures contracts decreased significantly, which then pushed prices even lower in a continuous cycle.

Experts say these sharp sell-offs often signal a bottom in the market, which could lead to more stable prices. However, the price could still fall further, potentially to between $60,000 and $64,000, if investors continue to pull money out of ETFs or if global economic issues like geopolitical tensions and inflation get worse.

Jeff Dorman, CIO at Arca Finance, recently posted on X that although he doesn’t want to see Bitcoin’s price drop, he’s encouraged that it’s falling while other cryptocurrencies are doing better. He attributes this decline specifically to the news about Michael Saylor and MicroStrategy selling Bitcoin, which he sees as a unique risk factor for Bitcoin alone.

If selling slows down, Bitcoin’s price could bounce back quickly, following typical patterns after the ‘halving’ event. However, Bitcoin remains a very volatile investment. Please remember this information is for general knowledge only and isn’t financial advice.

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2026-06-03 09:25