Bitcoin Back at $66,900–$68,000 Shelf After $400M Liquidations

On June 2 Bitcoin fell from about $71,765 to $67,895, producing roughly $400 million in liquidations in under an hour. By Wednesday morning in London, spot Bitcoin traded near $66,942, placing the price inside the $66,900–$68,000 band that overlaps with prior cycle highs and earlier failure points.

Analysts identify $71,500–$72,000 as the ceiling that recovery attempts needed to clear, with $68,000 as the initial repair line and $66,900 as the lower edge that would confirm a breakdown if breached with sustained selling. Bitcoin rose from roughly $65,000 at the end of March to the low-$80,000s by early May but did not establish lasting acceptance above the $71,500–$72,000 zone.

Traders monitored U.S. labor-market reports this week, including JOLTS and payrolls, while the 10-year Treasury yield sat near 4.6% and the 30-year above 5%. Exchange-traded fund flows showed outflow pressure. Oil-driven volatility and dollar strength added pressure on long-duration assets. U.S. equities remained near record highs even as Bitcoin gave back earlier gains.

If Bitcoin defends the $66,900 area and reclaims $68,000 with sustained trading above it, the next target noted by technical roadmaps is a renewed attempt toward $71,500–$72,000. If selling persists and $66,900 fails as sustained support, maps point to a potential move toward $61,700 and a yearly low near $60,000.

Until price action produces clear acceptance above the $66,900–$68,000 shelf or sustained weakness below it, the market structure remains between a repaired rally and renewed downside.