Bitcoin plunged to $66,970 on Wednesday, June 3, 2026, hovering near two-month lows after a brutal 9.5% weekly decline that erased over $200 billion from total crypto market capitalization. Ethereum dropped to $1,872, XRP fell to $1.23, and Dogecoin slid to $0.094 as digital assets decoupled sharply from record-high equities. The rout stems from twelve consecutive days of spot Bitcoin ETF outflows totaling more than $3.2 billion, including $519 million on June 2 alone, marking the longest redemption streak since ETF launch. Ethereum ETFs shed another $90 million. Michael Saylor’s MicroStrategy sold Bitcoin for the first time since 2022, while over $1.2 billion in leveraged positions liquidated on June 2. The Federal Reserve’s hawkish stance eliminating near-term rate cut expectations has pushed institutional capital toward traditional safe havens. Analysts are watching the $65,000 support level closely, with Friday’s jobs report potentially determining whether selling pressure continues.
FXnCO Insight
Traders should monitor Friday’s employment data and daily ETF flows as the two immediate catalysts that will determine whether Bitcoin holds $65,000 or tests deeper support levels.
Source: Finance Magnates