BTC price news: What next as Bitcoin falls below $66,000
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BTC plunged 6.4% to a 24-hour low of $65,708 and ether broke below $1,900 in Asian trading on Wednesday, just hours after the MSCI All Country World Index set a fresh all-time high on the AI rally.
Jun 3, 2026, 4:28 a.m. 2 min read
- Major cryptocurrencies tumbled even as global stock indexes hit fresh records, with bitcoin dropping as much as 12.3 percent on the week and ether down 11.1 percent.
- The sell-off followed a string of bearish crypto developments, including MicroStrategy’s first disclosed bitcoin sale, heavy spot bitcoin ETF outflows exceeding $3.2 billion, and a large Mt. Gox wallet transfer.
- Traders are watching bitcoin’s $65,000 level as key technical support, with a break lower potentially targeting $60,000 and a hold possibly setting up a short-term rebound.
The crypto sell-off is worsening as stock markets continue to inch higher every day.
Bitcoin BTC$67,028.52 plunged to a low of $65,708 in Asian morning trading on Wednesday, down 6.4% in 24 hours and 12.3% on the week, as a broad crypto market sell-off accelerated overnight against the sharpest possible backdrop of global equity strength.
Ether (ETH) broke below $1,900 to $1,839, marking a 7.9% drop in 24 hours and lifting the second-largest cryptocurrency’s weekly decline to 11.1%. Solana’s SOL fell 9.0% to $73.25, BNB lost 7.8% to $636, DOGE$0.09372 slid 8.3% to $0.0921 and Tron’s TRX shed 3.4% to $0.3297, per CoinDesk data.
BTC traded near $66,280 by Wednesday morning after touching the $65,708 24-hour low, with the range stretching $5,200 from the $70,907 high.
Global stocks set fresh all-time highs as the AI trade intensified, with the Philadelphia Semiconductor Index rallying almost 6% to a record on Tuesday and Tokyo Electron and Taiwan Semiconductor Manufacturing both reaching new peaks, Bloomberg reported.
The MSCI All Country World Index set a fresh all-time high on the AI rally that has dominated stocks all year.
SpaceX was reported to be seeking $135 a share for a $75 billion initial public offering, while S&P 500 and Nasdaq 100 futures held little changed near record levels. South Korean markets were closed for a holiday.
The crypto sell-off compounds a week of bearish news, starting with Strategy’s (MSTR) first publicized bitcoin sale on Monday, an ongoing record spot bitcoin ETF outflow streak through Tuesday that has crossed $3.2 billion, Mt. Gox’s $739 million transfer to a new wallet on Tuesday, and stalled U.S.-Iran ceasefire negotiations that have kept Brent crude rising for a third straight day on fresh Middle East fighting.
Hyperliquid’s HYPE remained the lone green outlier in the top 10 by market value, holding a 19.9% weekly gain at $71.98 despite a 3.1% decline in the past 24 hours.
BTC’s $65,000 level is the immediate technical anchor. A break below brings $60,000 into focus, while a hold opens the door to a relief bounce as overleveraged positioning gets flushed.
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The single biggest unwind was a $59.67 million BTC-USDT long on HTX.
What to know:
- Nearly $1.84 billion in leveraged crypto positions were liquidated in 24 hours as bitcoin fell below $66,000 and ether dropped under $1,900, marking the largest wipeout since Feb. 5.
- Long positions bore the brunt of the damage, with about $1.66 billion in liquidations led by bitcoin, ether and solana longs,…
