15 sites
Bitcoin (BTC)$BTC has abruptly plunged to a 9-week low, crashing down to $65,338 in early trading before marginally recovering to hover around $66,900. This rapid downturn marks a steep correction phase from its recent highs, triggering a massive $1.83 billion in leveraged long positions being wiped out across the broader crypto market within a single day. [1, 2]
1 BTC equals
Rs 18,239,688.36
As of 3 Jun, 9:25 pm GMT+5 • Disclaimer
2 Jun3 Jun18,500,00019,000,00019,500,000
2 Jun 2026 - 3 Jun 2026
🚨 Core Catalysts Behind the Sharp Decline
The sudden volatility and breakdown of key technical support floors are being driven by a combination of macroeconomic, geopolitical, and institutional shifts: [1, 2]
Geopolitical Escalations: Fresh U.S. and Iran military strikes have introduced a wave of panic across global financial sectors. While traditional defensive assets like gold are gaining traction, crypto assets are experiencing heavy risk-off selling pressure.
Institutional Selling Pressure: For the first time in four years, MicroStrategy unloaded a portion of its holdings, selling $2.5 million worth of BTC. Simultaneously, massive selling pressure from BlackRock and unprecedented outflows exceeding $2 billion from spot Bitcoin ETFs have severely weakened buyer support.
The AI Capital Drain: Strong institutional capital is actively rotating away from digital assets and directly into AI infrastructure. Massive corporate milestones—like Google's $80 billion capital raise—have driven the S&P 500 and Nasdaq to all-time highs, highlighting a severe divergence where investors view the opportunity cost of holding Bitcoin as too high. [1, 2, 3, 4, 5, 6, 7]
📉 Technical Outlook and Next Key Levels
Market sentiment has rapidly disintegrated into Extreme Fear. According to analytics compiled from platforms like Polymarket: [1, 2]
There is a growing 54% bet that Bitcoin will fall further to $62,500 before the end of June.
If the structural support at $65,000 fails to hold, analysts warn of a deeper liquidation cascade exposing the $50,000 to $55,000 liquidity zones.
To neutralize this bearish momentum, BTC must firmly reclaim the $73,869 Fibonacci level on a multi-day close. [1, 2, 3, 4, 5]
