The digital asset market, which had already been struggling for months, is now witnessing a bloodbath after Strategy (Nasdaq: MSTR), Michael Saylor’s Bitcoin (BTC) treasury firm, announced the sale of 32 BTC.
The total cryptocurrency market capitalization has decreased from $2.57 trillion on the day of the announcement on June 1 to $2.38 trillion at press time. So, the cryptocurrency market has lost $190 billion this month.
Bitcoin (BTC) has fallen from $73,800 to below $67,000 during the same period. It is the worst price range for the cryptocurrency since February of this year.
Similarly, Ethereum (ETH) has fallen from $2,000 to $1,870, and XRP from $1.34 to $1.23 this month.
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Mass liquidations hit the crypto market
When the market began to bleed, traders rushed to liquidate their positions. In the last 24 hours, according to Coinglass, 266,158 traders were liquidated.
During the same period, $1.5 billion in long crypto positions and $233 million in short positions were liquidated.
Bitcoin ($773 million), Ether ($482 million), and Solana ($88 million) remained the most liquidated cryptoassets over the past 24 hours.
Trends on TheStreet Roundtable:
Cryptocurrency stocks take a hit
Strategy (Nasdaq: MSTR) shares fell just 0.50% today to trade at $135 at the time of publication.
However, Bitmine Immersion Technologies (NYSE: BMNR), the leading Ether treasury, fell almost 4% to trade at $17.30.
Shares of Coinbase Global (Nasdaq: COIN) also fell 2.5% to trade at $169.75.
Robinhood Markets (Nasdaq: HOOD) fell nearly 5% to trade at $83.90 at press time. Shares of Circle Internet Group (NYSE:CRCL) also fell nearly 5% to trade at $95.90.
Related: Analyst cuts MicroStrategy price target by 20%
This story was originally published by TheStreet on June 3, 2026, where it first appeared in the MARKETS section. Add TheStreet as a preferred source by clicking here.