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Bitcoin crashes below $66K, relief bounce starts amid bearish market sentiment

Market News
03 Jun 2026
Crypto Daily
View Source
Bearish
pluang ai news

Bitcoin's price dropped sharply below the $66,000 support level after breaking down from a 4-month bear flag, falling about 20.6% or $17,000 in value. A relief bounce has begun, but strong bearish sentiment and resistance levels suggest the price may continue to trend downward or move sideways. The 200-week simple moving average (SMA) near the current price could act as a key support, with a potential bottom forming around the low $40,000 range if the price follows past bear market patterns. Overall, Bitcoin remains in a bear market until a clear bottom and capitulation occur.

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