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Bitcoin experiences mighty dip and liquidates over $1.2 billion.
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This liquidation occurred in under 24 hours.
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Can BTC recover and surge to a new ATH this year?
The crypto community is crushed to see that the pioneer crypto asset, Bitcoin (BTC), saw a massive dip in prices in under a day. While this liquidation does not beat the $20 billion single-day dip of October 2026, Bitcoin experiences mighty dip and liquidates over $1.2 billion in under 24 hours. Bearish analysts rise and claim that much lower lows lie ahead for BTC, marking the bottom phase of the ongoing bear market.
Bitcoin Experiences Mighty Dip and Liquidates Over $1.2 Billion
The crypto market has been in a steady downward state since October 2026, when the market experienced a $20 billion liquidation event. This single-day liquidation sent the crypto market directly into a bear market, something only a handful of analysts were bold enough to call. In contrast, other analysts believe that a short crypto winter would play out before the price of BTC would recover and enter a continued bull market.
The latter is a theory fueled by financial experts such as Raoul Pal, who believe that the traditional 4-year bull cycle has come to an end and that a 5-year supercycle will play out instead this year. While the bearish point of view confirms that no altseason has or will play out this cycle, bullish analysts believe the supercycle will allow BTC to make one final new ATH price before allowing altcoins to surge.
BTC Sees Another Major Dip in Under 24 Hours
Despite these differing points of view, the bear market expectations seem to be dominating at the moment. This is in a huge part due to the explicit price dip in the value of the pioneer crypto asset, Bitcoin (BTC). In detail, the price of BTC fell by a significant amount twice in the past 24 hours, leading to a much lower high set by BTC, and in turn, crushing hopes for ETH or altcoin prices to surge.
This is historic.
Yesterday, $BTC dumped from $73,900 to $70,600 liquidating $648M!
And today, $BTC has dumped further to $67,600 liquidating another $616M so far!
That's now $1.26B total Crypto liquidations in the past 24 hours alone!!!
Now, $66,000 – $67,500 below has… pic.twitter.com/8KuUDsWsyB
— CryptoReviewing (@CryptoReviewing) June 2, 2026
As we can see from the post above, the content marks a historic move by BTC yesterday, when the price of the asset dumped from $73,900 to $70,600, liquidating $648 million. Soon after, within the next 24 hours, the price of BTC dumped further to $67,600, liquidating another $616 million so far. This amounts to total market liquidation of $1.26 billion in the past 24 hours alone.
The post then goes on to highlight a possible bullish signal on the chart. In detail, the expert sheds light on the fact that below the $66,000 – $67,500 price range, a sizable liquidity could be swept next. However, targets above $71,500 – $77,000 also have a significantly larger collection of liquidation clusters stacked up, making this the ‘higher probability’ zone to visit next. Even so, bears continue to dominate at the moment.
