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Bitcoin price drops below $70K amid ETF outflows, Mt. Gox wallet moves, and geopolitical tensions.

Market News
02 Jun 2026
Crypto news
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Bearish
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Bitcoin price fell below $70,000 following over $3.4 billion in ETF outflows and a $739 million BTC transfer linked to Mt. Gox, stirring fears of increased market supply. The drop broke key support levels between $72,500 and $73,000, triggering $744 million in liquidations and pushing analysts to watch $68,700 and $65,000 as the next support zones. Renewed geopolitical risks and macroeconomic concerns also drove investors toward safer assets like gold and silver, further pressuring Bitcoin. Unless Bitcoin recovers above $71,500 soon, the bearish trend may continue, exposing the cryptocurrency to further declines.

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