Bitwise Europe says bitcoin is trading about $150,000 below a model-implied fair value of roughly $224,000, while May price action saw a move to $83,000 before sliding back to $72,000. The report links the reversal to $1.031 billion in global Bitcoin ETP outflows in the month's second half and highlights long-term holders at a record ~14.85M BTC (74.3% of supply), with $78,000–$85,000 framed as a key control zone.

On June 3, 2026, the Crypto Fear and Greed Index fell to 11 as bitcoin traded near $65,853 and traders debated whether $50,000 could become the next downside target. BTC was down about 2% to 3% over 24 hours and roughly 8% to 12% over the past week, while the total crypto market slipped 2.88% to $2.27 trillion. Market focus remains on $65,000 support, with $60,000 to $61,000 near the 200-week moving average cited as the next level if that breaks.

CryptoQuant data published Tuesday shows short-term Bitcoin holders moved 53,800 BTC to exchanges within a 24-hour period, and all of it was transferred at a loss. The dataset showed zero BTC sent at a profit from this cohort, defined as holders who entered within the last 155 days. CryptoQuant said the one-day spike signals stress, while follow-through over the next 48 to 72 hours would matter for confirmation.

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.