Bitcoin drops to $62,569; $1.12B liquidated

On June 3, more than $1.12 billion in leveraged crypto positions were liquidated over a 24-hour period, according to Coinglass. Long positions accounted for roughly $949 million of the total, while short liquidations were about $168.7 million. Bitcoin liquidations amounted to approximately $601.2 million and ethereum liquidations were about $252.9 million. The intraday low on Binance hit $62,569 at 9:50 p.m. EDT before the price stabilized in the upper $62,000s.

The selloff came after several days of net outflows from U.S. spot bitcoin exchange-traded funds. Market participants also cited a rotation of investor interest into artificial-intelligence-related equities, inflation concerns, geopolitical tensions and sustained high interest rates as factors weighing on demand.

Many long positions that used leverage during bitcoin’s earlier rally were closed as price fell through support levels. The rapid closure of leveraged trades occurred alongside the intraday decline.

Bitcoin is down more than 45% from its late-2025 peak above $126,000. The token opened June around $72,000 to $73,500 before encountering selling pressure that pushed it toward the low-$63,000 to $62,000 area. Traders are monitoring the $60,000 zone for further moves. On the upside, resistance is noted between $65,000 and $70,000 and again in the $75,000 to $77,000 range.

Ethereum and many smaller digital assets also posted losses during the liquidation event. Ethereum fell below some key psychological levels at times, and several altcoins recorded steeper percentage declines.

A firm disclosed selling 32 BTC between May 26 and May 31; that transaction represented a small portion of its holdings. Market participants said they are watching ETF flows and upcoming macroeconomic data for signs that could affect short-term liquidity and positioning.