Bitcoin (BTC) fell to $67,000 on 2 Jun, leading a broad cryptocurrency market selloff that wiped out more than $1.2bn in leveraged positions, triggered exchange-traded fund (ETF) outflows and sent crypto-linked stocks sharply lower.
Bitcoin Falls to $67K as Crypto Selloff Wipes Out $1.2bn in Leveraged Bets
2 June 2026 - 18:47 CEST
By Jona Jaupi
Bitcoin was trading at $67,079 as of 15:54 UTC, down 5.5% over the past 24 hours and 13% over the past week, according to CoinGecko data. The latest decline leaves Bitcoin around 45% below its all-time high of nearly $123,000 reached in October 2025.
Ether (ETH) traded at around $1,907, down over 3% on the day, while Solana (SOL) fell 4.6% to $76.04. The total cryptocurrency market capitalization dropped 3.7% to $2.41tn.
Capital shifts and geopolitical tensions
The selloff comes as investors remain cautious and continue to pull back from riskier assets.
Uncertainty surrounding the Middle East and the future of US-Iran talks has also weighed on market sentiment. Disagreements between the US and Israel over military operations in Lebanon could further complicate ongoing negotiations between Washington and Tehran.
Meanwhile, Binance Research said crypto's recent weakness may be partly driven by investors shifting capital into a few high-performing sectors.
In a 2 June post on X, the firm pointed to the CBOE Dispersion Index reaching its third-highest level on record – a move the team said reflects growing investor focus on industries such as AI, defense and energy.
"When a few hot themes absorb all the flows, BTC gets sidelined," the team wrote.
Liquidations and ETF flows
The crypto market decline also triggered a wave of liquidations across derivatives markets on 2 Jun. More than 198,600 traders were liquidated over the past 24 hours, with total losses reaching about $1.26bn, according to CoinGlass data.
Long positions made up $1.14bn of those liquidations. Bicoin accounted for the largest share of liquidations at $672mn, followed by Ether at $272mn and Solana at $50mn.
Similarly, US-listed spot crypto ETFs saw significant outflows on 1 Jun. Spot Bitcoin ETFs recorded net outflows of $483.8mn, according to SoSoValue data, while spot Ether ETFs saw another $44.4mn leave the sector.
In contrast, spot XRP ETFs attracted $4.1mn in net inflows, while the recently launched spot Hyperliquid ETFs brought in about $1.3mn.
Crypto stocks slide
The market weakness further spread beyond crypto assets and into publicly traded crypto-linked companies. Shares of Strategy (MSTR) fell 8.5% by late morning trading, while Coinbase (COIN) dropped 4.8% and Robinhood (HOOD) declined 3.7%.
Last week, crypto investment products recorded $1.67bn in outflows, according to CoinShares. Bitcoin-focused products accounted for $1.44bn of those withdrawals, the largest weekly outflow recorded so far this year.
Strategy's share decline comes just a day after it disclosed its first Bitcoin sale since December 2022. The company sold 32 BTC between May 26 and May 31, for $2.5mn at an average of $77,135 per coin, according to a 1 Jun filing. The move marked a pivot from Strategy founder Michael Saylor's "never sell" motto.
Top gainers and losers
Despite the broader market selloff, a handful of cryptocurrencies posted gains on 2 Jun. The LAB token led the top 100 cryptocurrencies with a 33% rise over the past 24 hours, followed by MemeCore (M), up 11.2%, and Zcash (ZEC), which gained 7.8%, according to CoinGecko.
On the downside, Stellar (XLM) posted the steepest decline among the top 100 cryptocurrencies, falling 13.2% as it gave back part of the gains from its May rally. Stable (STABLE) and Aptos (APT) followed, down 11.9% and 6.6%, respectively.
