Black Thursday in the Crypto Market as Bitcoin Downtrend Continues, US Stock Market Major Indexes Close Lower

June 4th, per HTX market data, Bitcoin fell below the $65,000 threshold, trading at $64,609 as of current press time — marking a 2.8% decline over the past 24 hours. Total network-wide liquidations across the crypto space reached $984 million in that period, with long-position liquidations totaling $804 million and short-position liquidations at $180 million. This morning, the Iranian military claimed it had just targeted a U.S. military command ship, while Iran has not yet submitted its response to the latest U.S. draft proposal to Washington. President Trump stated he is working to reach a final agreement with Iran, noting negotiations are proceeding “very smoothly” and a deal could be finalized as early as this weekend. The U.S. House of Representatives passed a resolution to restrict Trump’s military actions against Iran, though the measure is unlikely to take effect. Separately, per Bitget market data, Wednesday’s U.S. stock market close showed the Dow Jones Industrial Average down 1.2%, the S&P 500 down 0.7%, and the Nasdaq Composite down 0.89%. Both Microsoft (MSFT.O) and Nvidia (NVDA.O) saw their shares drop by over 3% apiece.