Bitcoin crashes to $65K as $1.8B liquidations follow US-Iran tensions

• Over $1.8 billion in crypto positions were wiped out as Bitcoin hit a four-month low
• Analysts warn Bitcoin risks breaking below $60,000 support amid ETF outflows

On June 3, 2026, CoinDesk reported that Bitcoin sank to $65,708—its lowest price since February—as mounting US-Iran tensions, capital rotation to equities, and major IPOs triggered $1.8 billion in crypto market liquidations. The sell-off saw $774 million erased from Bitcoin long positions, marking the largest single-day liquidation event since February.

Record outflows from spot Bitcoin ETFs and large Mt. Gox-related transfers drove increased selling pressure, according to analysts. Binance exchange reserves reached a three-month high, heightening concerns of further declines. The $65,000 to $66,000 range now acts as key short-term support. However, experts caution that continued negative sentiment and withdrawals could force Bitcoin to retest the crucial $60,000 level.

CNBC noted the entire crypto market mirrored Bitcoin’s steep drop, even as global equities set record highs on strong IPO activity and liquidity rotation. This divergence intensified uncertainty in digital assets, as investors favored traditional stocks over crypto.

As of June 3, 2026, 15:09 UTC, Bitcoin (BTC) trades at $66,451, down 2.146% in 24-hour volume, according to CoinMarketCap.