Crypto Slide Worsens As Bitcoin Falls 6% To $67,000

2026-06-02 14:38:00 ET

The selloff in cryptocurrencies is worsening on June 2 as Bitcoin’s (CRYPTO: ) price falls 6% on the day to $67,000 U.S.

In afternoon trading, Bitcoin and other major digital assets such as Ethereum (CRYPTO: ) and XRP (CRYPTO: ) were each down more than 5% as investors head to the sidelines.

Analysts are sounding alarm bells now that BTC has fallen below its key support level of $70,000 U.S., saying that the low this year of $60,000 U.S. is back in play as digital assets fall.

Reasons for the accelerating selloff in crypto range from continued selling by institutional investors to geopolitical uncertainty and capital moving into artificial intelligence (A.I.) stocks.

Some analysts and investors are also blaming Michael Saylor and his crypto treasury company Strategy (NASDAQ: ), which made its first Bitcoin sale in four years last week.

Strategy’s sale of $2.5 million U.S. of Bitcoin, while relatively small, has further shaken investor confidence in crypto, say critics of the move.

As cryptocurrency prices collapse on June 2, stocks of A.I. and high-performance computing (HPC) data centre operators are soaring.

Stock such as TerraWulf (NASDAQ: ) and Hut 8 (NASDAQ: ) are trading at 52-week highs as Bitcoin and other crypto fall sharply.

These companies, which previously focused exclusively on Bitcoin mining, have begun to decouple from Bitcoin as they pivot to A.I. data centres operations, say analysts.

At the same time, exchange-traded funds (ETFs) that track the spot price of Bitcoin and other cryptocurrencies continue to see their highest outflows of the year as investors flee.

Selling of crypto ETFs has been particularly pronounced among institutional investors that are also allocating capital to the A.I. trade.