On June 3, Bitcoin (BTC) traded around $66,500 after briefly dipping below $66,000, adding to concerns that the pullback could deepen. Over the past day, the total crypto market capitalization fell by roughly $140 billion, with traders tracking liquidation clusters near $64,300 and $63,400. Sentiment indicators were described as entering an "Extreme Fear" phase as bearish commentary increased across social platforms.

Bitcoin fell to $65,710 on June 3, breaking below $66,000 as U.S. spot Bitcoin ETF outflows hit $519 million on June 2 and derivatives markets saw heavy forced selling. Analysts pointed to weakening futures demand and sharply negative on-chain momentum indicators as signs that downside pressure could persist.

Bitcoin critic Peter Schiff said BTC could drop below $20,000 if it falls through $50,000, arguing market sentiment remains overly complacent. He made the comments with Bitcoin near $67,000, down more than 4% over 24 hours and over 16% across 30 days. Schiff also warned Strategy's STRC yield setup could turn into a self-reinforcing decline if investors question the company's ability to maintain payments.

Bitcoin (BTC) traded at $67,093.55 (-3.58%) as Microsoft’s June 2, 2026 Majorana 2 quantum-chip reveal revived debate over whether future quantum computers could pressure crypto security assumptions. The chip is described as 1,000 times more reliable than its predecessor with average qubit lifetimes of 20 seconds and peaks nearing 1 minute, while traders watched $66,000 support and the $70,000 breakout level.

Bitcoin fell to $65,707 on June 3, dropping 7% in 24 hours and more than 12% over seven days, alongside $1.85 billion in crypto liquidations. The report argues the move was driven by excessive derivatives leverage rather than Strategy's disclosed sale of 32 BTC to fund preferred dividend payments. It also notes Mt. Gox-related wallet transfers worth about $739 million added to sentiment, while saying a transfer alone is not proof of selling.

El Salvador continued accumulating bitcoin as BTC dipped below $66,000 this week and traded as low as $65,700. As of June 3, the country's strategic reserve was estimated near 7,600 BTC, valued at more than $510 million. The buying has persisted despite a $1.4 billion IMF deal that made bitcoin acceptance optional for businesses.

Bitcoin briefly slipped below $66,000 on June 3, touching around $65,710 as selling pressure intensified across the crypto market. The drop coincided with an extended spot bitcoin ETF outflow streak estimated at $2.8 billion to $3.5 billion and Strategy's first bitcoin sale in nearly four years. Traders are now focusing on whether $65,000 holds, with $60,000 cited as the next major level if support breaks.

Pushed lower by an unprecedented 19-day streak of spot ETF outflows and a hawkish Fed landscape under Kevin Warsh, Bitcoin (BTC) tests its critical ascending support. Read our professional technical and structural market analysis.