Bitcoin fell below $70,000 and was trading at $69,397 as the Bitcoin Rainbow Chart placed it under the model's lowest projected valuation band for late June. The chart's June 30 projection suggests BTC would need to be around $78,900 to enter the "Bitcoin is dead" zone, while higher bands range from about $105,000 to above $1.23 million. The model is presented as a long-term sentiment and valuation gauge rather than a short-term price target.

On June 2, Mt. Gox moved 10,423 BTC (about $739 million) from its cold wallet to a new address, followed two hours later by a separate 116.29 BTC transfer valued near $8.07 million. The exchange’s cold wallet was shown holding roughly 34,504 BTC worth over $2.4 billion at publication, as the court-approved repayment deadline stands at October 31, 2026.

Strategy’s first Bitcoin sale since 2022 is driving a payout dispute on Polymarket over a contract tied to whether the firm sold BTC by May 31. In a June 1 8-K filing, the company said it sold 32 BTC between May 26 and May 31 for about $2.5 million, but the disclosure landed after the market’s cutoff, splitting traders over a “Yes” vs “No” resolution.

Bitcoin fell below $70,000 on Tuesday, touching an eight-week low of $69,390 after dropping about $4,000 in under 48 hours and briefly pushing its market cap under $1.4 trillion. The move triggered more than $470 million in liquidations over 24 hours, with roughly $455 million coming from long positions. Traders also debated the impact of Strategy's 32 BTC sale for $2.5 million and whether the decline is a larger breakdown or a typical bull-market pullback.

CME Group's crypto futures and options have traded continuously since 4:00 p.m. CT on May 29, setting up the first full week without the traditional weekend CME gap. In the first 48 hours, more than 7,200 contracts traded (about $50 million notional) as Bitcoin nearly lost the $70,000 level while U.S. equities closed at record highs on June 1.

Bitcoin pushed above $80,000 before meeting resistance near $82,000 and pulling back, leaving price action choppy. A pseudonymous analyst, HAMED_AZ, pointed to a $70,000–$73,000 demand zone, an ascending trendline, and the 0.5 Fibonacci level around $71,302 as signals that a rebound could still develop.

On June 2, 2026, Bitcoin briefly slipped under $70,000 for the first time since April, with liquidation totals reaching $766 million. The move coincided with Mt. Gox shifting 10,306 BTC ($731 million) and renewed attention on Strategy's 32 BTC ($2.5 million) sale, while geopolitical headlines also added uncertainty.

On June 2, Bitcoin slid toward $69,950 after the Mt. Gox rehabilitation estate moved 10,422 BTC—about $739 million—from cold storage into multiple newly created, unmarked addresses. BTC dropped from $71,000 to an intrahour low near $69,950 as traders reacted to the transfer, while on-chain data showed no immediate surge in exchange inflows.