Bitcoin tanks below $63,000 for the first time since February as price selloff deepens

Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin tanks below $63,000 for the first time since February as price selloff deepens The selloff has triggered demand for protective options plays, pushing the fear gauge higher. By Omkar Godbole Updated Jun 4, 2026, 1:34 a.m. Published Jun 4, 2026, 1:30 a.m. 2 min read Make preferred on BTC s price selloff. (CoinDesk) What to know : Bitcoin fell to about $63,000, its lowest level since February, and is down more than 14% this week and 21% over the past four weeks. The sell-off has driven 30-day implied volatility to its highest level since early April and prompted 13 straight days of outflows from U.S.-listed spot bitcoin ETFs, signaling waning institutional demand. Analysts say a lack of fresh catalysts, rotation of liquidity into sectors like artificial intelligence and concerns over Mt. Gox-related selling could fuel further volatility, with key support watched around $60,000 and some eyeing $50,000 as a potential bottom. Bitcoin BTC $ 62,801.32 extended losses early Thursday, falling to $63,000 for the first time since February 24. The cryptocurrency has lost over 14% this week alone and 21% over the past four weeks, according to CoinDesk data.