Bitcoin plunged to a low of $65,708 in Asian morning trading on Wednesday, June 3, 2026, after falling to $70K twelve hours prior. The drop marked a 6.4% fall in 24 hours and a steep 12.3% decline on the week. The crypto sell-off accelerated overnight, even as global stock markets climbed to fresh record highs.
The pain spread across the market. Ether broke below $1,900 to $1,839, falling 7.9% in a day and 11.1% on the week. Solana dropped 9% to $73.25, while BNB lost 7.8% to $636. Dogecoin slid 8.3% and Tron fell 3.4%. Hyperliquid’s HYPE was the lone green outlier in the top 10, holding a 19.9% weekly gain despite a small daily dip.
The contrast with traditional markets could not be sharper. Global stocks set new all-time highs as the AI trade intensified. The Philadelphia Semiconductor Index rallied almost 6% to a record on Tuesday. Tokyo Electron and Taiwan Semiconductor both hit new peaks. The MSCI All Country World Index also set a fresh record. SpaceX, meanwhile, was reported to be seeking $135 a share for a $75 billion IPO.
A string of bearish crypto-specific news drove the decline. The slide began Monday with Strategy’s first publicized bitcoin sale, a notable shift for the company once known as crypto’s most aggressive corporate buyer. Spot bitcoin ETF outflows then crossed $3.2 billion in a record streak through Tuesday. On the same day, a Mt. Gox wallet moved $739 million to a new address, reviving fears of further selling. Stalled US-Iran ceasefire talks added pressure by pushing oil prices higher for a third straight day.
Traders are now watching the $65,000 level closely. Analysts call it the immediate technical anchor. A break below it brings $60,000 into focus, while a hold could open the door to a relief bounce as overleveraged positions get flushed out.
