The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn the biggest sell-off in months, Bitcoin crashed below $67,000, driven by three simultaneous factors: large investors (whales) dumping 25,000 BTC, record spot ETF outflows of $1.44 billion, and the liquidation of $455 million in long positions after the psychological $70,000 support broke, according to Reuters and Bloomberg reports.
The crash follows a period of relative stability, with Bitcoin trading above $70,000 for weeks. Data suggests institutional selling pressure was the primary driver, with liquidations accelerating after the key level broke. Per market data, Bitcoin closed at $66,800 on June 3, 2026, the lowest since early April.
In the near term, traders are focused on whether the price can reclaim $70,000 as support. Data suggests the next resistance lies at $72,000, while $65,000 represents potential support if selling pressure persists. On the horizon, markets await US PCE inflation data due May 28, which could influence monetary policy direction and, by extension, digital assets.