The selloff in cryptocurrencies is worsening on June 2 as Bitcoin’s (CRYPTO: $BTC) price falls 6% on the day to $67,000 U.S. 

In afternoon trading, Bitcoin and other major digital assets such as Ethereum (CRYPTO: $ETH) and XRP (CRYPTO: $XRP) were each down more than 5% as investors head to the sidelines. 

Analysts are sounding alarm bells now that BTC has fallen below its key support level of $70,000 U.S., saying that the low this year of $60,000 U.S. is back in play as digital assets fall. 

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Reasons for the accelerating selloff in crypto range from continued selling by institutional investors to geopolitical uncertainty and capital moving into artificial intelligence (A.I.) stocks. 

Some…