Bitcoin fell back below $66,000 early on June 4 after a brief rebound failed to hold. Ethereum moved in the same direction and slid toward the $1,800 level, adding to a sharp rise in volatility across the crypto market.
Bitcoin loses the $66,000 level for a second time
BTC first broke below $66,000 on June 3, then saw a short technical bounce. The recovery did not last. Latest market data showed renewed selling pressure in the early hours of June 4, sending Bitcoin back under the same threshold. Ethereum also weakened and tracked the broader move lower.
Liquidations reach $1.1 billion in one day
According to CoinGlass, the crypto market recorded 196,661 liquidated traders over the past 24 hours, with total liquidations reaching $1.1 billion. The figures point to heavy stress in the derivatives market, where leveraged long positions were hit hard during the sell-off.
The largest single liquidation in this decline was recorded on HTX. Data showed a BTC-USDT position was liquidated for about $59.67 million, making it the biggest individual wipeout highlighted during the move. The scale of that order showed how quickly liquidation pressure can build when prices swing sharply in a short window.
From the price drop to the liquidation data, the move showed a market still reacting aggressively to downside pressure. Bitcoin failed to reclaim a key round-number level, Ethereum stayed under strain, and leveraged positions were forced out in rapid succession.