United States bitcoin slide sparks $1.5 billion liquidations
PUBLISHED Jun 3, 2026, 5:57 AM ET
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United States – On Wednesday, June 3, 2026, the global cryptocurrency market came under intense pressure as bitcoin dropped below the key $66,000 level, unleashing a wave of forced selling and more than $1.5 billion in liquidations within a few hours. Data from digital asset tracking platforms showed that over 440,000 trading accounts suffered automatic margin liquidations during the slide, with leveraged long positions accounting for more than 70% of the total dollar value erased. The sell-off accelerated across multiple international exchanges as falling prices triggered cascading margin calls and widened losses for traders who had built up aggressive bullish positions in recent weeks. United States – The downturn followed regulatory and corporate disclosures from Strategy, the largest U.S. corporate holder of bitcoin and formerly known as MicroStrategy, confirming a rare divestment from its digital asset reserves. The company reported selling 32 bitcoins on Monday, June 1, 2026, for about $2.5 million at an average price of $77,135 per coin. While small relative to Strategy’s overall holdings, the move marked a clear break from years of “never sell” messaging by founder Michael Saylor and signaled a shift toward managing bitcoin to maximize holdings per share. The policy change reverberated across global trading desks, undermining confidence and contributing to broad risk reduction in major cryptocurrencies as the market reassessed a key pillar of long-term corporate support for bitcoin.
By Michael Grant | JQJO News
Timeline of Events
- First week of Jun 2026 Strategy files updated bitcoin disclosures
- Jun 1 2026 Strategy sells 32 bitcoins
- Jun 1 2026 Sale averages $77,135 per bitcoin
- Early Jun 2026 Market reacts to Strategy divestment
- Jun 3 2026 Bitcoin drops below $66,000 threshold
- Jun 3 2026 Over $1.5 billion liquidations recorded
- Jun 3 2026 About 440,000 accounts forcibly liquidated
- Jun 3 2026 Leveraged long positions mostly wiped out
News Intelligence
- Bitcoin's slide can impact your investments. If you're in the crypto market, check your positions. If you're not, this might be a buying opportunity. Remember, investing in cryptocurrencies is risky.
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