Bitcoin Drops 5% Below $62,000 as Middle East Clashes Deepen Weekly 16% Slide
Updated
Updated · Bloomberg · Jun 4
Bitcoin Drops 5% Below $62,000 as Middle East Clashes Deepen Weekly 16% Slide
3 articles · Updated · Bloomberg · Jun 4
Summary
$62,000 gave way in early Singapore trading as Bitcoin fell more than 5% to its lowest level since Feb. 6.
Renewed Middle East clashes hit broader risk sentiment, extending a crypto selloff that has now erased about 16% from Bitcoin this week.
That slide began after Michael Saylor’s Strategy Inc. sold about $2.5 million of its Bitcoin holdings, adding to pressure already building in the market.
The latest drop follows a broader washout that had already pushed Bitcoin below $62,000 earlier and triggered more than $1.5 billion in crypto liquidations, with traders watching $60,000 support.
With the Fed holding rates, is Bitcoin's price now completely hostage to the US dollar?
Is the AI boom creating a permanent capital drain for Bitcoin?
Bitcoin’s $62,000 Breakdown on June 3, 2026: AI Boom, Institutional Outflows, and What’s Next for Crypto Investors
Overview
On June 3, 2026, Bitcoin experienced a sharp decline, falling below the critical $62,000 mark. This dramatic drop sent ripples across the broader crypto market, triggering a wave of liquidations and intensifying bearish sentiment. A key driver was the increasing pull of the artificial intelligence (AI) boom, as capital that might have gone into Bitcoin was instead diverted to AI-linked equities, especially with the anticipation of major IPOs like OpenAI and SpaceX. The resulting volatility led to significant financial stress for traders, highlighting how quickly market sentiment can shift and impact the entire digital asset ecosystem.