El Salvador continued accumulating bitcoin as BTC dipped below $66,000 this week and traded as low as $65,700. As of June 3, the country's strategic reserve was estimated near 7,600 BTC, valued at more than $510 million. The buying has persisted despite a $1.4 billion IMF deal that made bitcoin acceptance optional for businesses.

Bitcoin briefly slipped below $66,000 on June 3, touching around $65,710 as selling pressure intensified across the crypto market. The drop coincided with an extended spot bitcoin ETF outflow streak estimated at $2.8 billion to $3.5 billion and Strategy's first bitcoin sale in nearly four years. Traders are now focusing on whether $65,000 holds, with $60,000 cited as the next major level if support breaks.

CryptoQuant contributor MorenoDV says an onchain market-stress indicator that has historically aligned with major Bitcoin cycle lows is currently near 40%, showing notable pressure but below past bottom extremes. Bitcoin started June under $70,000 after U.S. spot bitcoin ETFs saw about $2.43 billion of outflows in May, the largest monthly redemption of 2026. MorenoDV argues the strongest entries typically appear only after selling exhaustion pushes the gauge into its "maximum opportunity" zone.

A Polymarket user known onchain as "willo2" lost about $527,000 in a single day after a bet on Strategy’s bitcoin sale deadline resolved. Strategy disclosed in a June 1 Form 8-K that it sold 32 BTC for about $2.5 million, its first bitcoin sale since 2022. The position was tied to whether the company would sell any BTC before May 31, and the filing flipped the outcome.

Solana recorded $91 million in application revenue in May, topping all tracked blockchains and exceeding Ethereum's $52 million. SOL was trading near $81 after eight consecutive monthly declines, even as Solana's fee-derived app revenue continued to lead other networks.

Ripple unlocked 1 billion XRP from escrow on June 1 as part of its long-running monthly release schedule. U.S. spot XRP ETFs brought in $118.29 million in net inflows in May, their strongest month of 2026, while XRP traded near $1.27, about 4% lower over 24 hours.

Interactive Brokers strategist Steve Sosnick said on the “Bits + Bips” podcast that crypto’s pullback is exposing “tourist” capital that bought momentum and is now selling. Spot bitcoin ETFs recorded $1.42 billion in net outflows from May 25 to May 29, while spot ether ETFs saw $241 million leave over the same period. Sosnick argued that sustained rallies require conviction holders who won’t rotate out when competing trades—such as AI stocks—grab attention.

On June 1, the S&P 500 rose 0.26% to a record close of 7,599.96 as tech shares—led by Nvidia—pushed major U.S. indexes to fresh highs. Over the same period, bitcoin started June below $72,000 after posting its third negative monthly close of 2026 and following $2.43 billion in May U.S. spot ETF outflows. The split highlights a widening gap between equities at records and crypto lagging behind the risk-on rally.

Bitcoin has been trading below $72,000, with several analysts arguing the next decisive leg could pressure BTC toward the $60,000 area. After May closed at $73,568, the price was at $71,461 as of June 1, while bearish technical setups and cautious probabilistic models were cited as supporting evidence.