$BTC June 3 Cryptocurrency Market Consolidation Quick News


BTC drops over 7% in 24 hours, dipping to a low of $66,200, current price around $66,800, ETH also drops 7% to around $1,865, SOL, Dogecoin, XRP generally fall 7%-9%, total liquidation on the network reaches $1.61B, nearly 270k people liquidated, panic and greed index drops to extreme fear zone.
Institutional level, BTC spot ETF has experienced 11 consecutive days of net outflows, with a total of $3.45 billion leaving the market; Strategy slightly reduced BTC holdings for the first time, breaking the expectation of only holding without selling, combined with large transfers of Mt. Gox chips and worsening Middle Eastern geopolitical tensions, jointly triggering this round of concentrated selling pressure, only Polygon and DOT ecosystems slightly rebounded against the trend.
On the regulatory side, the US digital asset bill is on the Senate agenda, a South African court ruled that BTC has asset and currency attributes; capital is clearly diverging, BitMine spent $52.6 million to increase ETH holdings, and whales opened large BTC short positions to hedge the market.
BTC-1.99%
ETH-4.43%
SOL-4.2%
DOGE-3.11%
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