Bitcoin market rout results in billions of losses

June 3, 2026

The cryptocurrency market is experiencing a significant downturn following Strategy’s announcement of selling 32 BTC, triggering a bloodbath. The total market cap has dropped from $2.57 trillion to $2.38 trillion, resulting in a loss of $190 billion this month. Bitcoin plummeted from $73,800 to below $67,000, marking its lowest price range since February. Ethereum also fell from $2,000 to $1,870, and XRP from $1.34 to $1.23 in the same period.

As the market turmoil unfolded, traders hurried to liquidate their positions, leading to 266,158 liquidations within 24 hours. A staggering $1.50 billion in long positions and $233 million in short positions were liquidated during this time frame. Bitcoin ($773 million), Ether ($482 million), and Solana ($88 million) were among the most heavily liquidated assets in the past day.

In response to the market’s downturn, various crypto stocks experienced declines. Strategy’s stock only dropped by 0.50% to trade at $135. Bitmine Immersion Technologies, the primary Ether treasury firm, saw a nearly 4% decrease, trading at $17.30. Coinbase Global’s stock fell by 2.5% to $169.75. Robinhood Markets and Circle Internet Group both experienced losses of nearly 5%, trading at $83.90 and $95.90, respectively.

The current scenario reflects a challenging period for the cryptocurrency market. TheStreet highlighted these developments in the markets section on June 3, 2026. It is crucial to monitor the situation closely as the market continues to navigate through these turbulent times.