Bitcoin Tumbles Below $70,000 for First Time in Two Months

Source: Bloomberg
Published: Jun 2, 2026
Ingested: 2026-06-02T10:12:01Z

Bitcoin dipped below $70,000 for the first time in almost two months, dropping as much as 2.4% to $69,660 in early European trading — the lowest since April 8.

Digital coins were broadly down, with Ether, Solana, and other tokens declining alongside BTC. Bitcoin is now down approximately 44% from its all-time high of $126,000 reached in October 2025.

Drivers: US-Iran geopolitical uncertainty, Strategy's first Bitcoin sale since 2022, record ETF outflow streak ($3.45B over 11 sessions), and slowing corporate treasury accumulation.