Bitcoin News: BTC Crashed 12% and $1.85 Billion Got Liquidated, But Blaming Saylor’s 32 BTC Sale Is Simply Wrong Ahmed Barakat June 3, 2026 3 min read BTC-USD MSTR In the latest Bitcoin news, BTC price crashed to a four-month low of $65,707 on June 3, shedding 7% in 24 hours and more than 12% across seven days, as $1.85 billion in crypto liquidations tore through derivatives markets. The dominant narrative that followed pointed fingers at Michael Saylor and Strategy's first Bitcoin sale in three years. Bitcoin (BTC)24h7d30d1yAll time Discover: The Best Crypto to Diversify Your Portfolio Why the Saylor Attribution News Is Wrong: 32 Bitcoin Does Not Move a $57B Market Strategy disclosed in an SEC filing that it sold 32 Bitcoin to fund preferred stock dividend payments, the company's first net reduction in its Bitcoin position in more than three years.
The number is not a typo. Thirty-two Bitcoin, against a liquidation event that wiped $894.5 million in BTC positions alone. The attribution collapsed under basic arithmetic the moment it spread.
The narrative traveled faster than the data for a simple reason: the timing was close, the symbolism was sharp, and traders primed for a downside catalyst accepted the first available explanation. Market anxiety around Saylor's positioning had been building for weeks, making the attribution feel plausible even without supporting scale. That is how misattribution spreads in liquid markets, not through fabrication, but through pattern-matching under stress.
Gox estate's movement of approximately $739 million worth of Bitcoin added to the fog. On-chain monitoring flagged the transfer, and sentiment deteriorated immediately. But as this publication has noted in prior coverage of Bitcoin liquidation events tied to large on-chain movements, a wallet transfer is not a sale.
Exchange inflow metrics did not show a corresponding spike that would confirm coins reached order books before the cascade began. The verdict is unambiguous: a 32 BTC sale and an unconfirmed wallet transfer did not generate $1.85 billion in liquidations. Excess leverage in a deteriorating technical structure did.
Michael Saylor was the story crypto Twitter needed; the derivatives market was the story the data showed. Can Bitcoin Price Recover, or Does $65,000 Mark a Deeper Structural Break BTC is sitting at $67,057 on the daily chart, and the recent price action has been brutal, with price collapsing from the $82,000 high in early May all the way down to current levels in just a few weeks, erasing the entire recovery that built through March and April. The most alarming thing about this move is that it has broken back below the $68,000 to $70,000 range that served as the base for the March and April recovery, meaning the higher-low structure that had been holding since February has now been violated.
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