Bitcoin
May 27, 2026
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Key Takeaways
- Bitcoin price plunged 6.4% to $65,708 on June 3 as global stocks hit all-time highs with SPX at 7,600 and NDX at 30,514 on the AI rally
- ETF outflows hit $3.45B over 11 sessions as fresh capital stopped entering the market, with $1.3B in longs liquidated in 24 hours
- Michael Saylor’s Strategy sold 32 BTC on June 1, breaking its never-sell promise as Bitcoin drops 30% over the past 12 months, with $60K back in play
Bitcoin’s (BTC) price slid sharply on June 3 just as global equity markets pushed deeper into record territory. While the Nasdaq and S&P 500 kept climbing on the back of the AI rally, crypto markets moved in the opposite way. Bitcoin dropped as low as $65,708 during Asian trading. This is its weakest level in two months. Meanwhile, Ethereum (ETH) briefly fell below $1,900. The selloff has reopened a debate that looked settled earlier this year, whether institutional money is still treating Bitcoin like a growth asset or quietly moving elsewhere.
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How 32 Bitcoin and a Broken Promise Sent $1.3B in Longs to Liquidation
The immediate trigger was small. Michael Saylor’s Strategy disclosed that it sold 32 Bitcoin on June 1. This marks the company’s first sale since December 2022. The amount itself barely dents Strategy’s Bitcoin holdings. But it still hit hard after years of Saylor publicly repeating that the company would never sell its coins.
This announcement landed during an already fragile stretch for the market. According to recent data, more than $1.3 billion in leveraged long positions were liquidated across crypto derivatives markets over 24 hours. This is the largest wipeout since February.
In addition, pressure has also been building inside spot ETF markets. US Bitcoin ETF outflows reached roughly $3.45 billion across 11 consecutive trading sessions. This is the longest streak since spot products launched in January 2024.
Glassnode noted that monthly realized cap growth has collapsed nearly 57%, suggesting fresh capital entering the market has slowed dramatically. K33 Research highlighted the problem more bluntly in a note this week. They said,
“Much of the market views the opportunity cost of holding BTC as too high while anything AI-related soars.”
Amidst this, the MSCI All Country World Index reached another all-time high. The S&P 500 traded above 7,600 while the Nasdaq climbed to 30,514 as semiconductor and AI stocks continued attracting capital.
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Is the Bitcoin Crash 2026 Narrative Overdone?
Not everyone believes the market is breaking down. Bloomberg ETF analyst Eric Balchunas called the recent ETF withdrawals “totally meaningless” relative to the roughly $100 billion asset base still sitting inside the products.
Despite this, the broader picture has weakened. Bitcoin is now down roughly 11% year to date and nearly 30% over the past 12 months. It has also slipped to the 13th-largest global asset by market capitalization. For traders watching charts, the February low near $60,000 is back in focus again. At press time, the king coin was trading at $67,206.88.
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