Bitcoin and Ethereum remained under pressure on June 3 as investors continued to pull back from risk assets, extending a sharp crypto market downturn driven by ETF outflows, geopolitical tensions and shifting capital toward artificial intelligence (AI)-linked stocks.
Bitcoin hovered near the low-US$70,000 range after briefly falling below US$68,000 earlier this week, while Ethereum struggled to hold above the key US$2,000 psychological level.
The world’s two largest cryptocurrencies have both started June in the red following a weak May performance.
Market sentiment has been weighed down by nearly US$3 billion in outflows from spot Bitcoin ETFs over the past 10 trading sessions, alongside broader concerns over Middle East tensions and elevated interest-rate expectations.
The latest sell-off triggered more than US$1 billion in crypto liquidations, with Bitcoin and Ethereum accounting for the bulk of the losses as leveraged bullish bets unravelled.
Despite the weakness in digital assets, global equity markets continued to find support from the AI boom, highlighting a growing divergence between crypto and technology stocks as investors chase stronger returns elsewhere.
