Bitcoin Crashes Below $67,000: $1.86 Billion Liquidated as BlackRock Leads Mass Selloff

Bitcoin suffered one of its sharpest single-day crashes of 2026 on June 3, plunging to an intraday low of $65,372 before partially recovering above $67,000 — wiping out billions in leveraged positions and triggering the largest liquidation event in months.

What Happened: The Numbers

The scale of the damage was staggering. Over $1.86 billion in crypto positions were liquidated across the market in just 24 hours, with Bitcoin alone accounting for $896.4 million — the vast majority from long positions that got caught offside as the price collapsed more than 6% in a single session and over 12% for the week.

For context, Bitcoin hit its all-time high of $128,198 in October 2025. The current price represents a drop of nearly 48% from that peak.

The Culprit: BlackRock and the ETF Exodus

The single biggest trigger was an enormous $1.26 billion block sale from BlackRock's iShares Bitcoin Trust (IBIT) — the world's largest Bitcoin ETF — which hit spot order books directly and sent prices into freefall.

This wasn't an isolated event. US spot Bitcoin ETFs recorded $519.19 million in net outflows on June 2 alone, following $483.76 million the day before. May saw relentless selling pressure with multiple days exceeding $200–$700 million in outflows — the worst monthly exit of 2026 at $2.3 billion total.

The sustained institutional exodus removed a critical source of demand that had previously cushioned Bitcoin's price drops, reversing the strong inflows seen throughout 2025.

Why Is Bitcoin Dropping?

Several factors converged to create a perfect storm for sellers. Sticky inflation concerns and uncertainty around Federal Reserve rate cuts pushed investors toward safer assets. A strengthening US dollar made Bitcoin less attractive for global buyers. Geopolitical tensions added further pressure on risk assets.

On top of that, the Mt. Gox estate moved Bitcoin on-chain — a recurring fear trigger for crypto markets, as the defunct exchange's coins entering circulation signals potential selling pressure ahead.

The combination of heavy ETF redemptions, low summer trading volumes, and macro uncertainty created ideal conditions for an accelerated breakdown through multiple technical support levels.

What Do the Charts Say?

Bitcoin is currently trading below its 20, 50, and 100-day moving averages — a classic bearish signal. The RSI has dropped to around 35, approaching oversold territory, which suggests selling momentum may be weakening.

AI models including Claude Opus 4.6, DeepSeek, and Grok have predicted Bitcoin could fall further to around $62,678 by June 30 if the current trend continues — a potential additional 7% decline from current levels.

However, if Bitcoin can reclaim the key $76,400–$76,700 EMA cluster, analysts say a recovery toward $78,000 is possible by end of June.

Should You Be Worried?

For long-term holders, this correction — while painful — follows a familiar pattern. Bitcoin has dropped 40–50% from its peaks multiple times throughout its history, only to recover and reach new highs in subsequent cycles. The 2024 halving cycle pushed prices to all-time highs, and many analysts believe the long-term structural case for Bitcoin remains intact.

For short-term traders, however, the next key level to watch is $65,000. A break below that could accelerate selling toward the $60,000–$62,000 range.

Key Takeaways

• Bitcoin crashed to $65,372 on June 3, 2026 — down 6% in 24 hours and 12% for the week
• $1.86 billion in crypto liquidations triggered, $896M in Bitcoin alone
• BlackRock's IBIT led a $1.26 billion block sale that triggered the crash
• US spot Bitcoin ETFs saw $2.3 billion in outflows throughout May 2026
• AI models predict further drop to $62,678 by June 30 if trend continues
• Bitcoin is now nearly 48% below its October 2025 all-time high of $128,198