Bitcoin drops 6% as $1.25B liquidations hit

• Bitcoin fell over 6% in one day, triggering $1.25 billion in crypto liquidations
• Bearish sentiment grows as institutional sales and technical breakdowns drive divergence from rising traditional markets

On June 3, 2026 (UTC), Cointelegraph reported Bitcoin’s price sank 6% in a single day, triggering $1.25 billion in crypto liquidations and dropping to $66,950, its lowest point since April. The steep decline was linked to a “risk-off” move among investors and breakdowns in key technical price patterns.

Investors reacted to growing macroeconomic concerns by scaling back on risk assets. This shift drove increased selling in the spot market and contributed to the bearish momentum for Bitcoin. Meanwhile, record-high open interest in Bitcoin derivatives further amplified market volatility and the scale of liquidations.

Analysts pointed out that while the S&P 500 hit all-time highs, Bitcoin prices tumbled, illustrating a widening gap between crypto and traditional markets. The negative mood in the sector was compounded by recent institutional selling, including reported asset sales by companies such as MicroStrategy (MSTR).

Market specialists, including Rekt Capital, suggested that Bitcoin’s bearish momentum is likely to persist. They noted continued ETF outflows and sustained selling pressure could see Bitcoin’s price approach the $50,000 level if the downtrend continues.

As of June 3, 2026, 01:09 UTC, Bitcoin (BTC) trades at $66,757.74, with a 6.27% decrease in 24-hour trading volume, according to CoinMarketCap.