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Bitcoin Slides to $66.9K, $1.2 B Longs Liquidated

6/4/2026

29 2 Full Breakdown

Summary

Bitcoin Slides

Bitcoin price fell to $66,970 on June 3, 2026 after a 9.5% weekly slide.
Crypto market cap dropped to $2.3 trillion, an 8.7% decline this week.
Spot Bitcoin ETFs recorded $519.2 million outflows on June 2, part of a 12-day, $3.2 billion run.
Leveraged long positions were liquidated for $1.2 billion on June 2, the biggest loss since February.

Summary

Bitcoin Bearish Shift

K Wave Media dropped a $500 million Bitcoin plan, redirecting funds to AI data centers and GPU infrastructure.
Bitdeer liquidated its Bitcoin treasury to fund AI and high-performance computing.
CryptoQuant reported a bearish shift in Bitcoin’s risk profile as liquidation dominance moved against longs.
Kalshi gave Bitcoin an almost 80% chance of falling below $60,000 in 2026 and a 52% chance of dropping under $50,000 this year.

Summary

Bitcoin Slumps

Bitcoin fell after President Donald Trump’s 2024 election win, matching the historic post-presidential rally followed by a midterm bear market.
26 % of Bitcoin sold in the past 30 days was held by investors who bought above $90,000, a shift linked to the election-cycle sell-off.
Ed Engel of Compass Point said the decline reflects a typical midterm-year bear market, warning that the true bottom could be far lower.

History

Historical Context

After Donald Trump’s 2024 election win, the cryptocurrency industry—already the largest corporate donor with $238 million in 2024 contributions—deepened its alliance with his administration, launching the $Trump memecoin in January 2025 and announcing a $300 billion crypto rally in March 2025. The ensuing hype helped lift Bitcoin, but by June 2026 the coin fell sharply as spot-ETF outflows and leveraged-long liquidations reversed the surge.

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Bitcoin Slides

Bitcoin price fell to $66,970 on June 3, 2026 after a 9.5% weekly slide.
Crypto market cap dropped to $2.3 trillion, an 8.7% decline this week.
Spot Bitcoin ETFs recorded $519.2 million outflows on June 2, part of a 12-day, $3.2 billion run.
Leveraged long positions were liquidated for $1.2 billion on June 2, the biggest loss since February.

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