Your day-ahead look for June 2, 2026
By Francisco Rodrigues, Saksham Diwan|Edited by Sheldon Reback Jun 2, 2026, 11:15 a.m. 3 min readMake preferred on (BoliviaInteligente/Unsplash)Key Highlights:
This excerpt comes from CoinDesk's newsletter 'Daybook.' Subscribe here if you haven't already.
Bitcoin BTC$69,458.42 has fallen below the $70,000 mark for the first time in 60 days, which has left the cryptocurrency sector exposed ahead of significant U.S. economic reports that could influence the trajectory of risk assets.
The largest cryptocurrency has experienced a decline of over 4.45% within the last 24 hours, trading at approximately $69,400. Meanwhile, Ether saw a 0.6% decrease, settling at $1,970. The overall CoinDesk 20 (CD20) index fell by 3.2% during the same timeframe.
The short-term outlook for crypto does not appear favorable. The spot bitcoin ETF has recorded 11 consecutive days of outflows, while Strategy (MSTR), the top corporate bitcoin holder, disclosed a sale of 32 BTC for $2.5 million.
Although this sale is minor compared to Strategy's total holdings, it carries symbolic weight, and bitcoin's price dropped following the public disclosure of the transaction. Nonetheless, some analysts believe the sale is not the primary cause of the decline.
“Saylor / Strategy selling a few raspberries isn’t causing bitcoin to crash,” remarked Pierre Rochard, a bitcoin researcher and board member at bitcoin holder Strive (ASST), on X. “The reality is that there is a massive parabolic spike in AI-related equities that is vacuuming up all excess liquidity, multiples of bitcoin’s market cap.”
Rochard further noted that a robust labor market and rising energy prices indicate “sentiment for dovish rate cuts is nowhere to be found,” despite bitcoin’s fundamentals being “better than ever.”
This leaves economic indicators as the next significant catalyst. A strong U.S. jobs report on Friday could dampen hopes for rate cuts and put additional pressure on cryptocurrency prices, while softer figures might assist bitcoin in regaining levels above $70,000. Stay vigilant!
For more insights into today's movements in altcoins and derivatives, check out Crypto Markets Today. For a detailed list of events this week, see CoinDesk's "Crypto Week Ahead."
Trending Topics
- Mt. Gox transfers 10,422 bitcoin valued at $739 million to a new wallet ahead of deadline (CoinDesk): The now-defunct exchange Mt. Gox has moved bitcoin worth approximately $739 million to a new wallet, marking the largest single transfer in months, just before the October 31 deadline for creditor repayments.
- Bitcoin's largest ETF selloff reaches $3.4 billion as AI equities surge (CoinDesk): U.S. spot bitcoin ETFs have faced their largest and longest withdrawal streak on record, with investors extracting about $3.45 billion over 11 consecutive trading days.
- MoneyGram debuts stablecoin on Stellar, joining the trend towards digital dollar transactions (CoinDesk): MoneyGram has launched a stablecoin backed by the U.S. dollar, which will be integrated into the MoneyGram app, allowing users to maintain a dollar-denominated balance in a self-custodial wallet and transfer funds via the company’s global payment network.
- Major Russian drone and missile strikes on Ukraine result in 11 deaths and numerous injuries (Reuters): Amid a significant assault involving 676 drones and 74 missiles, thousands sought refuge as Russia launched one of its most severe attacks on Ukraine, leading to 11 fatalities and many injuries overnight.
Today's Insights
On the weekly chart, bitcoin's price is nearing a critical confluence support level — the 0.618 Fibonacci level around $69,000 and the long-term ascending trendline from the 2022 lows.
The RSI is currently close to 39, with no bullish divergence visible yet, indicating that there is no confirmation of a market bottom from this momentum indicator. For now, it is merely a structural level test.
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Key Highlights:
This excerpt comes from CoinDesk's newsletter 'Daybook.' Subscribe here if you haven't already.
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