Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's always good to be with you. Today is Wednesday, June 3rd. I'm Julie Morgan.

Bitcoin fell to his lowest level since February as investors continued to favor equities and other risk assets over crypto.

The world's largest cryptocurrency dropped as much as 2.3% to just over $65,000,

before pairing some losses in trading just below $67,000 as of the time of this recording.

Meanwhile, Ethereum traded at 1874. Seeking Alpha Analyst Traders Union

said, investors have withdrawn between $2.3 and $2.8 billion in recent weeks, marking the largest

selling streak since the launch of ETFs in the United States. They go on to say that institutional demand, which has been

the main growth driver in recent quarters, has noticeably weakened. Additional pressure came from

strategy's first Bitcoin sell in nearly four years. While the transaction involved just 32 bitcoins

out of the company's 843,000 coin treasury. It challenged Chairman Michael

Saylor's longstanding stance to never sell. Traders Union goes on to say that external

factors are also weighing on the market. Rising tensions in the Middle East, increasing oil

prices and expectations that the Federal Reserve will maintain

high interest rates are reducing the appeal of risk assets. They go on to say that investors are

shifting capital away from crypto into safer instruments, and as a result, Bitcoin is showing

weaker performance, even compared to the U.S. stock market, which remains near all-time highs.

From a technical perspective, the market has reached a critical support area.

Analysts note that a sustained move below $70,000 could open the path toward the $68,000 to $65,000 range.

President Trump has signed an executive order to increase AI oversight.

The order directs companies to provide the government access to advanced models for cybersecurity tests

up to 30 days before its release to the public.

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