{"id":429354,"date":"2026-06-03T17:40:47","date_gmt":"2026-06-03T12:10:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-price-crash-to-65k-sparks-1-8b-crypto-liquidation-bloodbath-crypto-news\/"},"modified":"2026-06-03T18:17:32","modified_gmt":"2026-06-03T12:47:32","slug":"bitcoin-price-crash-to-65k-sparks-1-8b-crypto-liquidation-bloodbath-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-crash-to-65k-sparks-1-8b-crypto-liquidation-bloodbath-crypto-news\/","title":{"rendered":"Bitcoin Price Crash to $65K Sparks $1.8B Crypto Liquidation Bloodbath &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div data-testid=\"post__body\">\n<p>Bitcoin (BTC) has dropped 8% to a nine-week low of $65,360 from Tuesday\u2019s high of $71,300 amid increasing geopolitical risks surrounding the US-Iran war.<\/p>\n<p><strong>Key takeaways:<\/strong><\/p>\n<ul class=\"list-bullet\">\n<li class=\"\" style=\"\" value=\"1\">Bitcoin slipped to $65,000 on Wednesday in a market-wide correction, liquidating $774 million in longs.<\/li>\n<li class=\"\" style=\"\" value=\"2\">Traders say Bitcoin needs to hold $60,000 as support to avoid a deeper correction in BTC price.<\/li>\n<\/ul>\n<h2>Bitcoin wipes out longs in tumble to $65,000<\/h2>\n<p>Data from TradingView showed <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-falls-below-66k-as-us-iran-strikes-resume\"><span style=\"text-decoration: underline;\">new BTC price lows of $65,362<\/span><\/a> on Bitstamp, the lowest since March 29 as sellers stayed in control.<\/p>\n<p><figure><\/figure>\n<\/p>\n<p style=\"text-align: center;\"><em>BTC\/USD daily chart. Source: Cointelegraph\/<\/em><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow noopener\"><span style=\"text-decoration: underline;\"><em>TradingView<\/em><\/span><\/a><\/p>\n<p>This extended the deviation from the local high of $82,800 to 21% and was accompanied by massive liquidations across the derivatives market.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/markets\/bitcoins-224k-fair-value-could-emerge-if-sovereign-debt-fears-deepen-bitwise\"><span style=\"text-decoration: underline;\"><em><strong>Bitcoin\u2019s $224K \u2018fair value\u2019 may emerge if sovereign debt fears deepen: Bitwise<\/strong><\/em><\/span><\/a><\/p>\n<p>More than $1.58 billion in long positions were liquidated, with Bitcoin accounting for $774.2 million of that total. Ether (ETH) followed with $440 million in long liquidations.<\/p>\n<p>Across the board, a total of $1.83 billion was wiped out of the market in short and long positions, marking the largest liquidation since Feb. 6, when BTC price tanked to its multi-year low below $60,000.<\/p>\n<p><figure><img alt=\"\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1271.png\" width=\"896\" height=\"270\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1271.png\" loading=\"lazy\" decoding=\"async\"\/><\/figure>\n<\/p>\n<p style=\"text-align: center;\"><em>Total crypto liquidations across all exchanges. Source: CoinGlass<\/em><\/p>\n<p>\u201cThis marks one of the larger single-day events in recent months,\u201d analysts at CryptoBanter <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/crypto_banter\/status\/2062079116564738349\" rel=\"nofollow noopener\"><span style=\"text-decoration: underline;\">said<\/span><\/a> in an X post on Wednesday.<\/p>\n<p>Pseudonymous analyst Byzantine General shared Velo data, which tracks liquidations from four major crypto exchanges: Binance, Bybit, OKX and Deribit, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ByzGeneral\/status\/2061947706759668111?s=20\" rel=\"nofollow noopener\" target=\"_blank\">saying<\/a>:<\/p>\n<blockquote><p>\u201cHighest $BTC long liquidations event since the infamous October 10 black swan event.\u201d<\/p><\/blockquote>\n<p><figure><img alt=\"\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1272.png\" width=\"896\" height=\"980\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1272.png\" loading=\"lazy\" decoding=\"async\"\/><\/figure>\n<\/p>\n<p style=\"text-align: center;\"><em>Bitcoin aggregate liquidations. Source: X\/Byzantine General\u00a0<\/em><\/p>\n<p>Fellow analyst DonaX\u20bf\u03c4 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/Donaxbt\/status\/2061950989079359671?s=20\" rel=\"nofollow noopener\"><span style=\"text-decoration: underline;\">pointed out<\/span><\/a> that the $1.5 billion in long liquidations recorded today were lower than the $1.6 billion posted during the Covid crash in 2020, adding:<\/p>\n<blockquote><p>\u201cThis industry is growing.\u201d<\/p><\/blockquote>\n<p>Meanwhile, Bitcoin supply on Binance, the world\u2019s largest crypto exchange by trading volume, has reached a three-month high of 659,000 BTC.\u00a0<\/p>\n<p>This signifies a \u201cpotential for heightened selling pressure in the market, especially if it coincides with declining prices or increased volatility,\u201d CryptoQuant analyst Arab Chain <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/6a1fbd4eae348e5baf3fc084-Bitcoin-Exchange-Reserves-on-Binance-Hit-Their-Highest-Level-in-3-Months\" rel=\"nofollow noopener\"><span style=\"text-decoration: underline;\">said<\/span><\/a> in a QuickTake note on Wednesday, adding:<\/p>\n<blockquote><p>\u201cRising supply on exchanges can amplify price volatility and selling pressure, especially if inflows continue in the coming period.\u201d<\/p><\/blockquote>\n<p><figure><img alt=\"\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1273.png\" width=\"896\" height=\"453\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1273.png\" loading=\"lazy\" decoding=\"async\"\/><\/figure>\n<\/p>\n<p style=\"text-align: center;\"><em>Bitcoin supply on Binance. Source: Cryptoquant<\/em><\/p>\n<p>As Cointelegraph <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/markets\/bitcoin-back-in-distribution-phase-as-fear-grips-crypto-market\"><span style=\"text-decoration: underline;\">reported<\/span><\/a>, Bitcoin is now in a fresh distribution phase fueled by increased inflows to exchanges amid <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/markets\/crypto-extreme-fear-worst-in-two-months-as-analysis-sees-bitcoin-price-rebound\">extreme fea<\/a>r.<\/p>\n<h2>$60,000 is now Bitcoin\u2019s last line of defence<\/h2>\n<p>BTC swept lows around $65,000, leaving traders questioning where Bitcoin is likely to find support.<\/p>\n<p>Bitcoin is in an \u201cinteresting zone\u201d below $66,000 with bulls looking at the \u201carea at $61K with the 200-Week MA for support,\u201d MN Capital founder Michael van de Poppe <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/CryptoMichNL\/status\/2062066760551997667\" rel=\"nofollow noopener\"><span style=\"text-decoration: underline;\">said<\/span><\/a> in a Wednesday post on X, adding:<\/p>\n<blockquote><p>\u201cThose are important to be looking at crucial zones of interest for support and I&#8217;m sure that I&#8217;ll be going to accumulate more positions within this region.\u201d<\/p><\/blockquote>\n<p style=\"text-align: center;\">\n<figure><img alt=\"\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-196.jpeg\" width=\"896\" height=\"583\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-196.jpeg\" loading=\"lazy\" decoding=\"async\"\/><\/figure>\n<p><em>BTC\/USD weekly chart. Source: Michael van de Poppe<\/em><\/p>\n<p>Analyst Colin Talks Crypto <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ColinTCrypto\/status\/2061944899772006624\" rel=\"nofollow noopener\" target=\"_blank\">said<\/a> the $65,000-$66,000 is \u201ca reasonable support level for a short-term bounce,\u201d with the possibility of the BTC\/USD pair later retesting the $60,000 support zone.<\/p>\n<blockquote><p>\u201cRe-testing $60k is still highly likely. And breaking below it later this year is definitely not ruled out.\u201d<\/p><\/blockquote>\n<p><figure><img alt=\"\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1274.png\" width=\"896\" height=\"928\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1274.png\" loading=\"lazy\" decoding=\"async\"\/><\/figure>\n<\/p>\n<p style=\"text-align: center;\"><em>BTC\/USD six-hour chart. Source: X\/\ud835\ude72\ud835\ude98\ud835\ude95\ud835\ude92\ud835\ude97 \ud835\ude83\ud835\ude8a\ud835\ude95\ud835\ude94\ud835\ude9c \ud835\ude72\ud835\ude9b\ud835\udea2\ud835\ude99\ud835\ude9d<\/em><\/p>\n<p>As Cointelegraph <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/markets\/bitcoin-holder-losses-hit-february-extremes-will-traders-defend-60k\"><span style=\"text-decoration: underline;\">reported<\/span><\/a>, bulls are expected to defend the $60,000 level aggressively, as a break below it may plunge Bitcoin into a new downtrend.\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) has dropped 8% to a nine-week low of $65,360 from Tuesday\u2019s high of $71,300 amid increasing geopolitical risks surrounding the US-Iran war. Key takeaways: Bitcoin slipped to $65,000 on Wednesday in a market-wide correction, liquidating $774 million in longs. Traders say Bitcoin needs to hold $60,000 as support to avoid a deeper correction [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":429365,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-429354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=429354"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429354\/revisions"}],"predecessor-version":[{"id":429366,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429354\/revisions\/429366"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/429365"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=429354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=429354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=429354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}