Bitcoin extended its June 2 selloff, briefly trading below $68,000 and reviving talk of a retest of February’s $60,000 low. The move came as markets digested a broader rotation out of risk assets and Strategy’s filing showing a small bitcoin sale.
Bitcoin's selloff continued on June 2, with BTC slipping below $68,000 and putting February's $60,000 low back in focus.
CoinDesk reported that the drop extended a broader market rout that has left traders watching whether bitcoin can hold current support or drift toward the prior February floor.
The move is being framed alongside a wider risk-off shift, including renewed attention on the AI trade in equities. Reuters previously described bitcoin and stocks stabilizing after a selloff tied to concerns around the AI-driven market boom.
The latest crypto weakness also came after Strategy disclosed in an SEC filing that it sold 32 bitcoin between May 26 and May 31 for about $2.5 million, at an average price of $77,135 per coin.
Why it matters
Bitcoin has spent the year trading as a high-beta risk asset, so moves in equities and other speculative trades can spill over quickly. A retest of the February low would mark another sharp leg down and could deepen pressure on crypto-linked stocks and funds.
What to watch
Traders are now focused on whether bitcoin can stabilize above current intraday support or whether the selling accelerates toward February's $60,000 area. Additional ETF flow data and further selling from large holders could determine whether this becomes a short-lived shakeout or a broader capitulation event.
Revision note
Initial automated publication.