Bitcoin Slides to $67K as Fear Gauge Surges 20% and Stablecoin Rotation Accelerates

Bitcoin has extended its decline from the $76K–$77K range in late May to around $67K by June 3, following a $7.5B options expiry on May 29 that left bears in control. The slide was compounded by over $1.4B in U.S. spot ETF outflows and record long-term holder supply masking weak demand. Realized volatility crashed 56% to a multi-year low of 17% before the 30-day implied volatility index surged nearly 20% on June 2, its largest jump since February, while capital rotated into stablecoins amid accelerating risk-off sentiment.