Bitcoin extended its selloff on Wednesday, falling below $66,000 and marking a third straight daily decline of more than 2%. The move included a drop from just over $67,700 to an intraday low of $65,362, while bitcoin-only liquidations neared $500 million and broader crypto liquidations topped $1 billion for a second day.

As of June 3, 2026 (19:46), Strategy's Bitcoin position shows an unrealized loss of about $8.33B while Bitcoin trades at $65,830. The company holds 843,706 BTC with a $63.87B cost basis versus an estimated market value near $55.54B, leaving it $9,869 underwater per coin and implying BTC would need to rise to $75,699 to break even.

Bitcoin fell below $67K after breaking down from a bear-flag setup, trading at $66,767 and posting -1.87% over 24 hours and -10.85% over the past week. Analysts highlighted potential downside support around $38K–$43K, while traders also debated whether the $66K–$67K zone can hold as a key decision level.

Bitcoin fell from above the $70,000 level earlier this week and was last quoted near $66,700, down over 5% in 24 hours. The selloff was tied to reports of BTC moving to exchanges, a 12-day streak of Bitcoin ETF net outflows, and Strategy's sale of 32 BTC in an SEC filing. Analysts cited the potential for a short-term relief bounce, while still warning BTC could retest $60,000.

On 3 June 2026 at 17:30, a review of Bitcoin's past market cycles outlined how far BTC has fallen from peak to bottom, highlighting major drawdowns in 2013 (about 87%), 2017 (about 84%), and 2021 (about 77%). It also argued the 2025 cycle has been reshaped by spot Bitcoin ETFs approved on January 10, 2024, with trading starting January 11, alongside halving dynamics that historically influence cycle timing.

U.S. spot Bitcoin ETFs have now posted 12 consecutive days of net outflows, with $3.97 billion in BTC liquidated over that span. IBIT accounted for about $2.939 billion of the withdrawals, while FBTC saw nearly $403 million in outflows, as BTC traded at $67,260 after falling nearly 15% over 30 days.

Strategy sold 32 BTC on June 3, 2026 for about $2.5M, a small transaction that coincided with a sharp market reaction as Bitcoin fell 3.1% to $65,391. Over the same period, nearly $4Bn was pulled from US-listed Bitcoin ETFs across the next 12 sessions, and total crypto market value was said to be down roughly $160Bn within the week. The episode revived debate over whether the sale signals a change in stance or routine treasury management.

Strategy (NASDAQ: MSTR) fell to $136.62, about 30% below its May 11 intraday peak of $197 and closing high of $195.94. The move followed the company's sale of 32 BTC worth roughly $2.5 million, as Bitcoin also declined 11.42% over the past week to $67,153 by June 3. From May 28 to June 3, 2026, the broader crypto market lost $170 billion in total capitalization.