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Bitcoin’s June correction is now being accompanied by a sharp rise in whale deposits to Binance, according to CryptoQuant analyst Darkfost, reviving a pattern last seen during the market’s February stress event. The data suggests that large holders are moving more BTC back onto the exchange as the selloff deepens, potentially adding near-term supply pressure. Darkfost said Bitcoin is down 14% in June, with the decline accelerating over the past several days. That move has pushed some investors into a more defensive posture, particularly large entities moving sizable amounts of BTC. In the analyst’s framework, whales are defined as entities executing transactions above 100 BTC, or more than $6 million at current prices. The most visible change has occurred on Binance. According to the post, whale inflows to the exchange reached approximately 8,200 BTC on June 2, followed by more than 6,400 BTC on June 4. More importantly, the trend has also shifted on a monthly basis: average whale inflows on Binance have risen from roughly 1,200 BTC since mid-April to more than 2,800 BTC today, meaning the figure has more than doubled in a matter of weeks. “On Binance, BTC inflows from whales have accelerated sharply,” Darkfost wrote, pointing to the June 2 and June 4 peaks. “On a longer-term basis, the monthly average of whale inflows on Binance has moved from approximately 1,200 BTC since mid-April to over 2,800 BTC today, more than doubling within a matter of weeks.” Bitcoin Whale Deposits Point To Rising Sell-Side Risk Exchange inflows do not mechanically prove that coins have already been sold. However, large transfers to trading venues are commonly watched as a proxy for potential sell-side intent, especially when they occur during a fast correction rather than during a period of accumulation or sideways consolidation. Related Reading: Bitcoin’s Most Important Metric Flashes Warning As Bulls Fight To Hold $60K Darkfost framed the current increase in that context. “This dynamic suggests that the ongoing correction is pushing some whales to move their BTC back onto the exchange, presumably with the intention of selling,” the analyst wrote. “This behavior looks more like emotional risk management than a deliberate strategic decision.” That distinction matters for market interpretation. A strategic rebalance usually implies pre-planned execution, portfolio rotation, or a controlled reduction in exposure. Panic-driven exchange inflows, by contrast, tend to appear after price damage has already forced large holders to reassess risk. They may worsen near-term pressure, but they can also emerge late in a corrective sequence. Related Reading: Bitcoin’s Great Wealth Transfer May Fuel Next Rally, Says CryptoQuant CEO Bitcoin was trading near $62,533 at the time of writing, after an intraday low of $61,407 and high of $64,380. That puts the market close to the levels referenced in Darkfost’s comparison with February, when whale inflow activity on Binance last reached a similar intensity during Bitcoin’s drop to $60,000. February Comparison Raises The Key Question The February reference is the central point of the analysis. Darkfost noted that the last comparable surge in Binance whale inflows came as Bitcoin fell below $60,000 earlier this year. In that case, the elevated inflows reflected stress after a sharp drawdown rather than an early warning signal ahead of the full move. “For reference, the last time whale inflow activity on Binance reached such levels was during Bitcoin’s drop below $60,000 in early February,” the analyst wrote. “This development introduces additional selling pressure in the short term. That said, panic-driven moves of this kind tend to arrive well after the fact, as was the case in February.” At press time, BTC traded at $62,332. Featured image created with DALL.E, chart from TradingView.com

Bitcoin (BTC) extended its decline on Friday, sliding to levels not seen since early February, leaving the broader market under renewed pressure and deepening bearish sentiment.  Since reaching its all-time high of $126,000 last October, Bitcoin is now down roughly 52%, reinforcing the sense that the sell-off is more than a short-term dip. Bitcoin Treasury Stocks Fall From $134B To $72B While traditional market weakness has been part of the story, whale activity has also played a major role in the most recent drop. One of the clearest signals that unnerved traders came from Strategy (MSTR).  Related Reading: XRP Price Falls To 4-Month Lows—Charts Signal Sell, On-Chain Data Turns Bearish As previously reported by NewsBTC, Strategy sold Bitcoin for the first time in nearly four years. The company offloaded 32 BTC for approximately $2.5 million—an amount that may look small compared with overall market volumes.  However, the real impact has been psychological. Watching the largest Bitcoin public holder and the face of the “never sell” narrative break that behavior sent a shockwave through crypto sentiment. The broader market’s reaction has been visible in equity-linked crypto holdings as well. Artemis data cited by Bloomberg shows that the combined market value of fully diluted Bitcoin treasury company stocks has fallen to about $72 billion, compared with nearly $134 billion at the most recent peak in early October. That means roughly $62 billion has been erased during the downturn.  Support Could Form Between $54,000 And $50,000 Hayden Hughes, managing partner at Tokenize Capital, said the current environment forces difficult choices for these digital-asset treasuries. In his view, once prices unwind, companies face a stark decision: either default on their debt obligations or sell assets.  Hughes added that this kind of forced selling damages the market’s earlier assumption that Bitcoin treasury holders would behave like permanent “buy and hold” participants. When that expectation breaks, sentiment can deteriorate quickly, making rebounds less likely under these conditions. Related Reading: Coinbase Reveals First Mortgage With Bitcoin Collateral Under Fannie Mae Coverage  Market analyst Ali Martinez recently posted on X (formerly Twitter) that Bitcoin is approaching a market bottom. Martinez identified the MVRV Pricing Bands as a useful framework for determining where support could emerge.  He stated that the next significant support level is between $54,000 and $50,000, which could serve as a floor for the cryptocurrency. However, this would require an additional 17% retracement from current trading levels of $60,444.  Featured image created with OpenArt; chart from TradingView.com 

Grayscale’s head of research says Strategy’s leveraged business model has come under pressure, and that pressure could make it harder for the company to keep adding Bitcoin to its holdings. Related Reading: Bitmine Seeks $300M Raise To Accelerate Ethereum Accumulation Strategy A Dividend Problem Taking Shape Zach Pandl made the assessment Thursday after Strategy sold 32 Bitcoin — a tiny slice of its 843,706 BTC stockpile — triggering a wave of selling that has knocked Bitcoin down 16% since the transaction. Strategy also offloaded $128 million in shares, and its stock has dropped nearly 13% to a two-month low of $126. At the center of the concern is STRC, a variable-rate preferred equity instrument that Strategy designed to trade at $100 per share and pay an 11.5% dividend. It is now trading around $95 — below the target price — a sign that investors are demanding a higher return than the instrument currently offers. If Strategy responds by raising the dividend to pull STRC back to par, cash obligations grow. Higher cash obligations could push the company toward selling more Bitcoin. More Bitcoin sales could weigh further on prices. Pandl put it plainly: Strategy’s levered model is under pressure, and that has increased volatility for the Bitcoin market as a whole. What Saylor’s First Sale Changed Until this week, Strategy had operated under a strict buy-and-hold approach, treating Bitcoin accumulation as a one-way strategy. The sale of 32 BTC — however small — broke that pattern and shook confidence among investors who had built a bullish thesis around the assumption that Saylor would never sell. Augustine Fan, a partner at crypto software firm SignalPlus, said markets are blaming the sales and STRC’s discount for driving the latest downturn, but added that even committed supporters are finding fewer reasons to stay structurally bullish. All eyes, Fan said, are on how Saylor manages liquidity by balancing STRC dividend payments against Bitcoin holdings. Related Reading: Bitcoin Faces Pressure As Investors Rotate Capital Into AI Buildout: Saylor A Healthier Market Without The Concentration Grayscale’s Pandl sees a broader upside to a potential shift away from concentrated, leveraged BTC holdings. Less Bitcoin sitting on the balance sheets of highly indebted companies, and more spread across diversified corporate holders, would benefit the Bitcoin ecosystem over the long run, he argued. Featured image from Unsplash, chart from TradingView

Bitcoin has spent the better part of the past several weeks delivering a painful lesson to bulls. The largest cryptocurrency by market capitalization has shed more than 22% over the past month, slicing through support levels that many traders had considered established. Bitcoin is still trapped below a descending trendline, and the current structure still favors sellers unless price can reclaim important resistance levels. However, technical analysis projection leaves room for a recovery move if Bitcoin breaks out of the bearish trend and starts building momentum above confirmation levels. Bitcoin Inside A Bearish 4-Hour Structure Bitcoin’s 4-hour chart shows price action moving inside a bearish structure, with lower highs and lower lows forming under a descending resistance line since the swing high above $82,800 in May. The rejection from that swing high has now pushed Bitcoin below a weak low / liquidity sweep at $66,000, and the chart’s break of structure and change of character labels show how control moved from buyers to sellers. Related Reading: Analyst Calls Out Stagnant Logic Being Used On XRP, Predicts When Price Will Rally To $300 The bullish case does not come from a confirmed reaction at $66,000 but from the possibility that Bitcoin can reclaim lost structure after the recent breakdown. However, if Bitcoin begins to push back above the nearby confirmation area around $66,948 and then breaks above the descending trendline, the move could open the way for a climb into the higher resistance levels shown in the 4-hour chart below. Bitcoin 4-Hour Chart. Source: TradingView The Targets Stacked Above And What Each One Means A trendline break, confirmed alongside a strong 4-hour close above the descending structure, would not immediately resolve the current bearish mood Bitcoin is trading in. It would, however, initiate a move to resistance price levels that increasingly change the momentum in the favor of Bitcoin bulls. A stronger bullish signal would come only if Bitcoin pushes back above the descending trendline. The technical chart places this descending trendline around $71,495, and this is the level that could decide whether the recovery has enough strength to continue. A rejection below that price area would keep the bearish structure in place, but a clean break above it would challenge the current trend and allow bulls to trend higher price levels. Related Reading: Pundit Says Dogecoin Is About To Do Something Insane, Here’s What The next level is around $75,952. This is an intermediate resistance and breakdown level, which means it could become the next major test if Bitcoin breaks the resistance trendline. The highest and most significant target on the current structure is around $79,453, where the major resistance and bearish control level is located.  Above that, the premium supply zone and institutional sell area stretches from approximately $77,000 to just above $82,000. Therefore, according to the projection drawn on the chart, a confirmed break of the current bear trend could send Bitcoin back into its May high of $82,000, where it could face another test of resistance. Featured image created with Dall.E, chart from Tradingview.com

Bitcoin spot ETFs have now recorded net outflows in 17 of the last 19 days, with investors pulling a combined $5.6 billion from the products during that stretch. Taking Stock Of The Damage The numbers have pushed year-to-date flows for US-traded Bitcoin ETFs into negative territory, landing at negative $2.17 billion. Bloomberg ETF analyst James Seyffart put the 13-day outflow streak in sharper relief, reporting that roughly $4.4 billion worth of Bitcoin was sold through those products over the past month alone. Related Reading: XRP Dips In The Short Run, But A Bigger Setup May Be Forming: Analyst Since May 14, Bitcoin has fallen about 20%, dropping from $82,040 to around $64,000. The slide accelerated after Strategy, the business intelligence firm led by executive chairman Michael Saylor, disclosed it had sold 32 BTC for approximately $2.5 million — a small fraction of its total holdings, but enough to rattle sentiment across the broader market. Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months. Bitcoin ETFs have seen ~$4B of outflows since May 14, pressuring $BTC. This is a capital rotation, not a Bitcoin impairment. Volatility creates opportunity. — Michael Saylor (@saylor) June 4, 2026 Saylor Points To AI Spending As The Culprit Saylor took to X on Thursday to offer his explanation for the drop. Capital markets are funding artificial intelligence infrastructure at what he described as a historic scale, drawing money away from Bitcoin and other assets in the process. According to Saylor, more than $400 billion has been directed into AI-related investments over the past six months, with major Wall Street institutions joining the push. That flood of capital, he argued, is behind the outflows hitting Bitcoin ETFs — not any fundamental weakness in Bitcoin itself. He framed the pullback as a buying window. “Volatility creates opportunity,” Saylor said. Silver Linings Remain Not every fund has been caught in the tide. The BlackRock iShares Bitcoin Trust and Grayscale’s Mini Bitcoin Trust have both held onto positive flows since January 1, reports indicate. Across all US-traded Bitcoin spot ETFs, the cumulative lifetime net inflow still stands at roughly $54 billion — a figure that reflects sustained demand since the products launched just over two years ago. Related Reading: Bitmine Seeks $300M Raise To Accelerate Ethereum Accumulation Strategy The overall picture is one of short-term stress against a backdrop of longer-term capital commitment. Whether the AI spending wave continues to crowd out Bitcoin investment, or whether the two can attract separate pools of money, remains an open question. Featured image from Pexels, chart from TradingView

While Bitcoin (BTC) trades at its lowest levels in months, some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point. Related Reading: Zcash Fixes Critical Orchard Vulnerability As ZEC Holds $600 Support Bitcoin Tags Key 200‑Week SMA After Four Years After falling 15% over the past four days, Bitcoin is attempting to reclaim the $64,000 level as support. The flagship crypto had been trading between $64,000-$82,000 since the early February crash, holding above the upper half of the range for nearly two months. However, this week’s broader volatility pushed BTC toward the range’s lower boundary for the first time in months, reaching a four-month low of $61,383 on Wednesday night. Amid this performance, market observer Rekt Capital highlighted that the cryptocurrency had tagged the 200-week Simple Moving Average (SMA) for the first time in this bear cycle, which may signal that another correction is coming. As he explained, deviation below this SMA has “historically been the key to building out a Bear Market bottom formation.” In June 2022, Bitcoin reached this level during its bear market correction, quickly losing it as support on the weekly timeframe. Following the initial drop below the 200-week SMA, the leading crypto traded sideways, briefly retesting this level before continuing its descent to its late 2022 bear market bottom. Now, BTC has reached this key SMA nearly four years later, suggesting a drop to new lows if the 2022 playbook repeats. The analyst noted that Bitcoin has been rejected from a critical area and has broken a key level, another similarity to past bear market corrections. According to the post, BTC was rejected from the base of the Macro Triangle after failing to break past the $82,500 area, revisited the 50-Month EMA during the recent drop, and is currently breaking down from this EMA, a setup that has repeated each cycle before the market bottom. BTC’s $60,000 Support About To Give In? Rekt Capital pointed out that Bitcoin rallies from the $60,000 region have progressively weakened since 2024, signaling deteriorating support. While the price surged 113% from this area during the mid-2024 rally, the February 2026 retest only generated a 38% move. Now, the cryptocurrency has bounced 4% so far, “but it’s very likely that the rebound from here will be even weaker,” the analyst stated, adding that the “$60,000 area will be completely lost as support over time.” He also stated that during bear markets, Bitcoin tends to form multi-month price clusters, followed by new Macro Lower Highs before distributing from the clusters to reach new lows. “The good news is there are 1-2 such clusters left in this Bitcoin Bear Market, with the Bear Market Bottom being the final cluster,” he concluded. Related Reading: Ethereum Ready For The ‘Final Dip’? Analysts Call For New Lows As Price Retests $1,900 Meanwhile, Ali Martinez affirmed that the recent breakdown from the $72,000 support has left Bitcoin “in a vulnerable position,” as it opens the door for a 25%-30% correction based on the MVRV Pricing Bands. The analyst previously noted that Bitcoin has consistently bottomed between the 1.0 and 0.8 MVRV Pricing Bands over the past decade. Now, the next major area of support is between $54,000 and $50,000, where the 1.0 pricing band is located. Featured Image from Unsplash.com, Chart from TradingView.com

Nearly four months after crypto exchange Coinbase and the Federal National Mortgage Association—better known as Fannie Mae—announced their partnership, the companies have now disclosed what they describe as the first-ever mortgage backed by crypto collateral.  No Need To Sell Crypto The concept was originally unveiled in March, when Better Home & Finance and Coinbase announced a joint mortgage product designed for prospective homebuyers who hold crypto but struggle with the cash requirements of traditional financing.  Instead of requiring customers to liquidate their digital holdings to raise down payment funds, the Coinbase program allows borrowers to pledge crypto—such as Bitcoin (BTC) or Circle’s USDC stablecoin held in a Coinbase account—so those holdings can secure a separate loan intended to cover the down payment.  Importantly, the actual home mortgage remains a conventional Fannie Mae–backed loan, meaning the structure is built around the existing conforming mortgage framework rather than replacing it with a new, fully crypto-based mortgage system. Related Reading: XRP Price Falls To 4-Month Lows—Charts Signal Sell, On-Chain Data Turns Bearish In Thursday’s update, Better Home & Finance and Coinbase said the first loan has already been closed. The borrowers are Joe and Amy, a married couple in their early 30s from Ann Arbor, Michigan.  Coinbase reported that both had meaningful savings in digital assets, but ran into a challenge that blocks many qualified buyers: they didn’t have enough cash available for a traditional down payment.  According to the companies, instead of selling their long-term Bitcoin position—an action that could trigger capital gains taxes and potentially force investors to exit exposure—they used the program to pledge their crypto as collateral. They then completed the purchase of their first home. Coinbase Sees New Path To Homeownership Joe, a software engineer, explained that homeownership has been the goal for some time, but he wasn’t willing to give up his long-term investment plan simply to qualify for a down payment.  He said the mortgage helped him avoid liquidating his Bitcoin, avoid having to time the market, and avoid having to reset his finances in a way that would delay his path to buying a home. Joe said:  We closed on our home, and my Bitcoin stayed intact. We didn’t have to liquidate, didn’t have to time the market, and didn’t have to start over financially to achieve our homeownership goals. That meant everything. Related Reading: Bitcoin Drops Below $66,000 Amid Mounting ETF Outflows, $4B Withdrawn In 12 Days Coinbase framed the milestone as part of a broader message about utility for crypto holders. Mark Troianovski, Head of Consumer & Platform Partnerships at Coinbase, said the company believes Bitcoin should do more than sit idle in a wallet.  He described the first token-backed conforming mortgage as a concrete example of that idea and pointed to the scale of digital-asset ownership in the US. Troianovski further stated: Funding the first token-backed conforming mortgage is one of the most tangible demonstrations of that vision that we have seen. Tens of millions of Americans have built real wealth in digital assets. That wealth now has a direct path to homeownership, creating new opportunities for the next generation of homebuyers. Featured image created with OpenArt; chart from TradingView.com

Bitcoin has experienced significant selling pressure following a 16% drop since Monday — a decline that has compressed the recovery from the cycle lows and forced a reassessment of where the market’s structural support actually lies. Against that backdrop, CryptoQuant analyst Woominkyu has identified a signal in the mining data that places the current weakness in a historical context that spans the entirety of Bitcoin’s market cycle history. Related Reading: Bitcoin Falls Below $66K As Short-Term Holder Stress Reaches February Levels The 30-day moving average of Bitcoin’s hashrate has turned downward alongside the price decline. Woominkyu frames the significance of that development with a precision that separates it from routine data monitoring. Hashrate is not simply a network metric — it represents the physical security layer of the Bitcoin network and the proof that miners are committing real energy and real capital to defend the current price level. When the 30-day hashrate average turns down alongside price, it reflects genuine stress in the mining ecosystem rather than a statistical fluctuation. The historical context Woominkyu provides is the framework that prevents the current signal from generating either panic or dismissal. Hashrate pullbacks are not unprecedented — they are a documented and recurring feature of Bitcoin’s market cycle behavior. The 2021 China mining ban produced a 43% decline. The 2018 bear market produced a 28% contraction. The 2022 cycle, the 2024 halving, and a late 2025 pullback each produced their own measurable hashrate compressions. In every case, these declines clustered around cycle bottoms — the moments when inefficient miners capitulated and the network contracted before recovering stronger. A Modest Hashrate Dip With Miners Still Holding Woominkyu’s quantification of the current hashrate decline places it in the correct historical category immediately. The seven-day decline sits at approximately -6.6% while the 30-day reading shows a -3.0% contraction — figures that are meaningful enough to register as a genuine signal but remain far shallower than the capitulation events that have historically marked cycle bottoms. The 2021 China ban produced a 43% decline. The current reading is a fraction of that scale. Bitcoin Hashrate | Source: CryptoQuant The difficulty data adds the marginal pressure context. Difficulty remains +4.9% on a 30-day basis — meaning miners are operating against tightening economics even as hashrate begins to pull back. That combination of rising difficulty and declining hashrate describes squeezed margins rather than comfortable profitability. What prevents the current setup from becoming alarming is the miner reserve data. Reserves are nearly flat — miners are holding their Bitcoin rather than sending it to exchanges for sale. The stress is present in the economics but has not yet converted into the forced distribution behavior that characterizes genuine capitulation events. The level Woominkyu identifies as the threshold between caution and concern is specific. A -3% dip that stabilizes and reverses fits the shallow correction pattern. A deepening toward the -10% to -40% drawdowns of previous cycle bottoms would shift the signal from a routine margin squeeze into something that historically precedes more significant market structure changes. For now, the data supports the former reading — worth monitoring carefully but not yet warranting the alarm that the historical comparisons might initially suggest. Related Reading: Smart Money Keeps Buying HYPE Despite Rising Market Fear – Price Holds Above $70 Level Bitcoin Loses Key Support: $60K Zone Now In Focus Bitcoin remains under intense selling pressure after breaking decisively below the critical $65,000-$66,000 support zone that had contained price action since the February capitulation low. The daily chart shows a sharp acceleration to the downside, with BTC trading near $63,100 after a violent rejection from the $73,000 resistance area earlier this week. BTC testing critical support level | Source: BTCUSDT chart on TradingView The breakdown is technically significant because it invalidates the higher-low structure that supported the recovery from April through May. Price has now fallen below the 50-day, 100-day, and 200-day moving averages, confirming a bearish market structure across all major trend indicators. Volume has also expanded noticeably during the decline, suggesting the move is being driven by aggressive selling rather than a lack of buyers. Related Reading: Bitcoin Loses $70K While 10,300 BTC Leave Mt. Gox-Linked Addresses – Details The most important level now sits between $62,000 and $64,500, highlighted by the lower demand zone on the chart. This area acted as support during the February washout and represents the last major defense before Bitcoin potentially targets the psychological $60,000 level. A sustained break below this zone would expose the February lows near $61,000 and could trigger another wave of capitulation. For bulls, the immediate objective is reclaiming $65,000. However, the former support zone between $65,000 and $66,000 has now become resistance. Until BTC can recover that area, momentum remains firmly in favor of sellers, with downside risk continuing to dominate the short-term outlook. Featured image from ChatGPT, chart from TradingView.com

Data shows the spot ETFs and Strategy have absorbed more Bitcoin than Satoshi’s stack since the asset was last at $63,000, yet the asset has returned to the same level. Bitcoin Could Be Headed Toward The Realized Price In a new post on X, CryptoQuant founder Ki Young Ju has talked about the latest crash in the Bitcoin price. Since mid-May, the cryptocurrency has gone through a significant drawdown that has taken its value from a high above $81,000 all the way down to the $63,000 level. A major part of this decline has come in June alone, with BTC even hitting a brief low below the $62,000 mark. Related Reading: Bitcoin Traders Turn Most Fearful In 2 Months Following Crash The latest downturn has interestingly arrived despite some positive developments in the market. Young Ju pointed out that since BTC was at $63,000 in March 2024, the asset’s supply has gone through a distribution shift. The spot exchange-traded funds (ETFs), investment vehicles introduced in the United States in 2024, have absorbed 509,102 BTC inside this window. Meanwhile, Strategy, the largest corporate holder of Bitcoin, has added 650,706 BTC to its holdings. To put things into perspective, Satoshi’s BTC wallets hold about 1 million tokens, while the combined supply absorbed by the spot ETFs and Strategy equals more than 1.24 million tokens. Even all centralized exchanges combined hold a total of 2.7 million BTC, providing another comparison for the accumulation. “More BTC than Satoshi’s stack, nearly half of exchange reserves, has been absorbed, and price is still back at the same level,” noted the CryptoQuant founder. As for how much the drawdown can extend from here, perhaps the Realized Price can provide some hints. This on-chain metric tracks the cost basis of the average wallet on the Bitcoin network. Here is a chart that shows how this indicator has changed for BTC over the last few years: The metric appears to have been on the decline in recent months | Source: @ki_young_ju on X As displayed in the above graph, the Bitcoin Realized Price has seen a drop recently as investors have participated at the lower bear market prices. Currently, the metric’s value stands at $53,800. So far, BTC has managed to stay a notable distance above the Realized Price, but historically, bear markets have only concluded when the asset has ventured below this line. “I thought that level would be hard to revisit, given institutional inflows and MSTR barely selling any BTC,” said Young Ju. “But current price action suggests unusually strong sell pressure.” Related Reading: XRP Breaks Below Triangle—Will Drawdown Extend To $1.14? It now remains to be seen whether Bitcoin will manage to hold above the Realized Price this cycle or if the same pattern as before will play out again. BTC Price At the time of writing, Bitcoin is floating around $63,200, down more than 13% in the last seven days. Featured image from Dall-E, chart from TradingView.com

Bitcoin price started a fresh decline below the $65,000 zone. BTC is showing bearish signs and might continue to move down if it dips below $62,000. Bitcoin failed to stay above $65,500 and extended losses. The price is trading below $64,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $65,000 and $65,500 levels. Bitcoin Price Extends Losses Bitcoin price failed to stay above the $66,500 support zone. BTC remained in a bearish zone and extended losses below the $65,000 level. There was a move below the $64,000 level. The price even dipped below $62,500. A low was formed at $61,255 and the price is still showing many bearish signs. It is below the 23.6% Fib retracement level of the downward move from the $74,070 swing high to the $61,255 low. Bitcoin is now trading below $64,000 and the 100 hourly simple moving average. If the price remains stable above $61,200, it could attempt a fresh increase. Immediate resistance is near the $63,200 level. There is also a bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC/USD pair. The first key resistance is near the $64,000 level. A close above the $64,000 resistance might send the price further higher. In the stated case, the price could rise and test the $65,500 resistance. Any more gains might send the price toward the $65,500 level. The next barrier for the bulls could be $67,650 or the 50% Fib retracement level of the downward move from the $74,070 swing high to the $61,255 low. More Losses In BTC? If Bitcoin fails to rise above the $64,000 resistance zone, it could start another decline. Immediate support is near the $62,000 level. The first major support is near the $61,200 level. The next support is now near the $60,800 zone. Any more losses might send the price toward the $60,200 support in the near term. The main support now sits at $60,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $62,000, followed by $61,200. Major Resistance Levels – $64,000 and $65,500.

Bitcoin (BTC) has crashed below $70,000, underperforming the already weak crypto market as selling pressure tests price action. Market analyst Crypto Patel noted that he had anticipated this significant drop, citing BTC’s fragile price structure and persistent bearish factors in recent weeks. Now, the expert is sharing new insights on the latest price decline, forecasting how far the ongoing correction might go and what could come next for the leading cryptocurrency. Analyst Predicts More Declines Ahead For Bitcoin Crypto market analyst Crypto Patel on X is predicting further declines for Bitcoin, identifying $50,000 as a potential bottom for this cycle. In what he called a “Bitcoin Profit Update,” Patel highlighted that he had accurately forecasted the recent 19% crash in Bitcoin in his earlier posts. Related Reading: Here’s Why The Bitcoin Price Is Crashing And What To Expect Next Previously, the analyst had warned that Bitcoin’s previous $80,000 level represented strong resistance, coupled with a fair value gap (FVG). He predicted that from its prior price of around $82,800, Bitcoin would likely drop to $68,000. Despite criticism from some market watchers, Patel remained firm and closely monitored the market. His forecast proved largely accurate, as BTC recently fell more than 19%, reaching $67,000. He attributed the move to a Bitcoin liquidity grab, followed by activity around the FVG and a bearish order block around the $89,000 level. Looking ahead, Crypto Patel noted Bitcoin has formed a lower high around $82,800, a move he had been waiting to confirm. He also highlighted that stop losses have moved lower, from $98,000 to $82,900. The analyst has marked the $82,800 region as the current critical change of character (ChoCH) trigger, signaling that traders should watch this level closely for potential market shifts.  According to Crypto Patel, only a high-volume, high-timeframe close above $82,800 could flip Bitcoin back to bullish territory. Without it, he expects another significant decline.  BTC’s Downside Targets Point To $40,000 Crash In a recent X post, Crypto Patel reiterated that his bias toward Bitcoin remains bearish, expecting the cryptocurrency to crash to much lower levels. He acknowledged the possibility of a short-term relief bounce toward $75,000, but emphasized that this would likely be temporary. Following this projected rebound, the analyst expects BTC to drop to its next lower low target near $50,000 later this year. Related Reading: Bitcoin Bearish Flag Goes Up As Expert Analyst Predicts A Massive Crash To $44,000 Patel marks a break of structure (BOS) level around $59,800 on his chart as the key trigger that could open the path to the $50,000 plunge. He also noted that if bearish momentum persists, Bitcoin could face an even steeper decline, potentially dipping into the $40,000 – $45,000 range. Featured image from Geety Images, chart from Tradingview.com

CryptoQuant CEO Ki Young Ju says Bitcoin’s current distribution phase may be less a sign of structural weakness than a major transfer of supply from old market participants to US financial institutions, ETFs and new long-term holders. In a series of posts on X, Ki argued that selling by Bitcoin OGs and long-time miners is part of a broad “change of hands” rather than evidence that the asset has exhausted its cycle. The key question, in his view, is not only how much supply is being sold, but who is ultimately absorbing it. “I believe that the selling by Bitcoin OGs and long-time miners is part of a major shift in hands, transferring to US traditional financial institutions, investors, and ETFs,” Ki wrote. “So, I disagree with the claim that Bitcoin won’t do well anymore once the shift is complete and there’s no more liquidity coming in.” Bitcoin’s Ownership Base Is Changing Ki’s thesis centers on the composition of Bitcoin holders. He said that, for any asset, the long-term market setup depends heavily on the capital base behind it. If the new owners are institutions capable of attracting larger pools of liquidity over time, he argued, the transition could ultimately support another upward cycle. “For any asset, what ultimately matters is who holds it,” he wrote. “If the people holding it now are entities that can bring in even greater liquidity going forward, then I think we can look forward to the next rally at any time.” The argument marks a notable framing of the current market. Bitcoin has seen intense sell pressure even as large institutional buyers have continued absorbing supply. Ki described the current distribution phase as “a massive change of hands,” pointing to a market where old holders are distributing while ETFs, Strategy and newer cohorts take the other side. Related Reading: Bitcoin Traders Turn Most Fearful In 2 Months Following Crash According to Ki, Bitcoin investors’ average cost basis is around $53,000. Historically, he said, bear markets ended only after price fell below the realized price. He previously thought that level would be difficult to revisit because of institutional inflows and Strategy’s limited selling. But he said recent price action indicates “unusually strong sell pressure.” The scale of absorption is central to his concern. Since January 2023, Strategy has bought 711,206 BTC and sold only 32 BTC, removing a net 711,174 BTC from circulation, according to Ki. Since March 2024, when Bitcoin was also around $63,000, ETFs have absorbed 509,102 BTC while Strategy bought another 650,706 BTC. Together, that amounts to 1,240,808 BTC absorbed, yet price has returned to the same level. For context, Ki noted that exchange reserves sit around 2.7 million BTC, while Satoshi Nakamoto is estimated to hold around 1 million BTC. In other words, more Bitcoin than Satoshi’s estimated stack, and nearly half of exchange reserves, has been absorbed without producing a sustained price advance. Short-Term Buyers Are Maturing Ki also pointed to a major shift inside the realized-cap structure. Bitcoin is at roughly the same price as two years ago, he said, but the holder base looks materially different. The 6-month-to-2-year cohort, representing investors who entered during this cycle, now accounts for 53% of realized cap, up from 15% two years ago. That matters because, in Ki’s interpretation, short-term holders are gradually becoming long-term holders. He compared the current figure with the previous cycle, when Bitcoin bottomed after the same cohort reached 68% of realized cap. “Short-term holders are evolving into long-term holders,” he wrote. Related Reading: Bitcoin Drops Below $66,000 Amid Mounting ETF Outflows, $4B Withdrawn In 12 Days The setup is not without risk. Ki reposted a separate observation from Julio Moreno stating that overall Bitcoin demand, including speculative and spot demand, is contracting at a monthly pace of 232,000 BTC. Moreno argued that the current correction is tied directly to Bitcoin demand conditions, not to equities, oil or macro indicators, noting that stocks are at all-time highs while manufacturing activity is improving. Ki’s posts therefore present a split picture. On one side, current demand is contracting and sell pressure remains heavy despite historic institutional absorption. On the other, Bitcoin’s ownership base is migrating toward institutions and maturing newer cohorts that may provide a deeper demand base in the future. Ki acknowledged that this transition comes with a cultural cost. “Honestly, in terms of rising asset value, I think traditional financial institution investors might provide an even stronger demand base than Bitcoin OGs,” he wrote. “Of course, in that process, some of the cypherpunk values may get diluted. I really regret that part too.” For markets, the debate now turns on whether Wall Street’s growing share of Bitcoin ownership can offset the supply leaving older holders and miners. Ki’s conclusion remains constructive, but conditional on that transfer becoming a source of future liquidity rather than a ceiling on upside. “Still, I believe there will definitely be another upward cycle for Bitcoin,” he wrote. “As an investor, I still believe in Bitcoin and think it’s worth waiting a bit longer.” At press time, BTC traded at $62,696. Featured image created with DALL.E, chart from TradingView.com

Standard Chartered’s head of digital assets research, Geoff Kendrick, has outlined three specific scenarios that stand between Bitcoin and a new market low — a sobering analysis arriving as Bitcoin trades near $62,562, its lowest level since the February lows, and ETF outflows reach historically severe levels, according to a CoinDesk report. Related Reading: Bloodbath For Bulls: $623 Million In Bitcoin Longs Liquidated The analysis from one of the most closely watched institutional voices in crypto arrives as the broader market absorbs a brutal string of data points. US spot Bitcoin ETFs recorded $1.42 billion in outflows for the week ending May 29 — the third-worst weekly result in history — with total outflows over the preceding three weeks exceeding $4.21 billion, per Bitcoin Foundation’s tracking of ETF flow data. Bitcoin has simultaneously fallen to the lower boundary of the Power Law corridor, a long-term valuation model that plots price against time on a logarithmic scale, with the Power Law Oscillator dropping to 4.4% — meaning Bitcoin is priced cheaper than 95.6% of historical readings relative to its long-term trend. BTC's price trends to the downside on the daily chart. Source: BTCUSD on Tradingview The Three Conditions For The Bitcoin Price According to CoinDesk’s report of Kendrick’s analysis, the three “ifs” that could tip Bitcoin toward a new market low center on the intersection of macro forces, institutional flows, and market structure — rather than any crypto-specific catalyst. The first is whether ETF outflows continue accelerating beyond current levels, removing the institutional demand layer that has been the primary structural support for Bitcoin since January 2024. The second is whether the Federal Reserve’s June and July meetings deliver a hawkish surprise — specifically if the dot plot fails to signal rate cuts, removing a key tailwind the market has been pricing in. The third is whether Bitcoin dominance — currently above 60% — breaks below the 52–54% range, a level that historically signals broad-based crypto selling rather than Bitcoin-specific rotation, per Standard Chartered’s prior framework as reported by CoinDesk. The Contrarian Signal Inside The Warning Kendrick’s three-ifs framework is not a straightforward bear call — it is a risk-mapping exercise from an analyst who remains constructive on Bitcoin’s year-end trajectory. According to CoinDesk’s report, Kendrick told clients directly: “I think when we look back at the end of 2026 with BTC at $100k and ETH at $4k we will say this was the buying zone we all wanted.” The bank’s year-end Bitcoin target remains $100,000, per its February 2026 revised forecast — a level that would require a 60% recovery from current prices. The observation that Bitcoin is trading near its 200-week simple moving average is central to Standard Chartered’s framing. Previous bear markets ended around the same moving average, per CoinDesk’s chart analysis — a historical pattern that, while not a guarantee, supports Kendrick’s view that the market may be closer to a bottom than a breakdown. This development marks a critical juncture for Bitcoin in the current cycle. Standard Chartered’s three-condition framework offers both a warning and a map — and the next few weeks of ETF flow data, Fed signaling, and dominance metrics will determine which scenario actually plays out. Related Reading: XRP Price To See Violent Discontinuous Repricing And $10 Could Only Be The Start As of this writing, Bitcoin trades at around $62,562, testing levels that have historically preceded either a sustained recovery or a final capitulation flush. Cover image from Grok, BTCUSD chart from Tradingview

Bitcoin is enduring a multi-front assault on its spot market liquidity as exchange-traded funds, short-term speculators, and cryptocurrency miners simultaneously distribute assets. This coordinated selling pressure has drained market demand at the fastest pace since the 2022 collapse of the Terra/Luna ecosystem. As a result, BTC's price has tanked 12% over the past week, pushing […]
The post Bitcoin’s selloff is creating the short-heavy setup that could reverse it fast appeared first on CryptoSlate.

A heavy wave of US Treasury issuance, a $250 billion IPO pipeline, and a shift in big tech cash toward AI spending are among the pressures Jamie Coutts says could keep markets tight for a while longer. The Real Vision chief crypto analyst still thinks Bitcoin buyers in the $60,000s may be getting a rare long-term entry point, even if the market has not fully washed out yet. Related Reading: XRP Dips In The Short Run, But A Bigger Setup May Be Forming: Analyst The Pressure Building Coutts framed the recent drop as part of a broader reset, saying Bitcoin has already fallen about 50% from its highs and that the move fits past bear-market swings on a volatility-adjusted basis. He stopped short of calling the bottom, however, and said another leg lower is still possible before the market steadies. His view rests less on Bitcoin itself than on the state of global money flows. He pointed to a crowded IPO market pulling in capital, large technology firms reducing buybacks as they pour cash into AI infrastructure, and rising Treasury supply that could push yields higher. That mix, in his telling, is enough to leave risk assets under pressure in the near term. Still, he argued that the strain cannot last forever because higher borrowing costs and weaker tax receipts make it harder for the US government to keep yields in check. Why The $60Ks Matter For Coutts, the price zone matters because it may offer long-term buyers a level that looks cheap in hindsight. He described anything in the $60,000 range as an attractive place to accumulate Bitcoin on a multi-year view, even if the market is not yet done falling. That call was not presented as a fast trade or a clean timing signal. It was closer to a patient case for buying into weakness while the larger liquidity picture is still working through its next phase. The analyst also tied the outlook to the way governments and central banks react when markets come under stress. He said that if stocks fall hard and tax revenue weakens, deficits widen further and financial conditions get harder to manage. Related Reading: Bleeding Bitcoin Holders Signal Stress — $60K Becomes Critical Battleground Why The Fed Still Matters From there, Coutts drew a straight line to the Federal Reserve. He said the most realistic escape from that pressure would be new liquidity from the central bank, which has often helped support Bitcoin and other risk assets during past downturns. That leaves Bitcoin in a familiar place: weak enough to make traders cautious, but close enough to a possible support zone to draw in buyers who think in years, not weeks. Featured image from Unsplash, chart from TradingView

Bitcoin’s 200-week moving average, sitting at around $61,700, is the line the market is watching most closely right now. That level has marked the bottom of every major Bitcoin bear cycle going back to 2015, and it held again this week — at least for now. Related Reading: XRP Already Powers Real Banking Activity, Says Evernorth, With More Growth Expected A Classic Bottom Signal — Or Just A Pause? The selloff dragged Bitcoin down to around $61,300 before buyers pushed the price back up past $64,750, a recovery of more than 5%. Reports say the rebound came alongside news that Israel and Lebanon had agreed to a ceasefire, though the price action itself was already being shaped by a massive liquidation event. Over $740 million in BTC positions were wiped out in a 24-hour window, according to data from CoinGlass. Long traders took the bulk of the hit, with more than $623 million in bullish bets liquidated as the price fell. Bear Flag Still Looms Bitcoin’s weekly chart shows a bear flag breakdown still in progress. The pattern points to a potential drop into the $50,000–$52,000 range, and the setup has gained weight from rising trading volumes on the downside move. BTC has so far failed to reclaim the upper trend line of the flag. That failure keeps the bearish scenario technically intact, even after Thursday’s bounce. Some traders are reading the move differently. Analyst ZordXBT pointed to the long lower wick on Bitcoin’s candle as a sign that buyers came in hard near the lows. Trader RidaaXBT called for a short-term relief bounce toward the $69,000–$70,000 range, arguing that the liquidation wave may have cleared out enough near-term selling pressure to allow a recovery. $BTC Just like that, BTC dumped to the 61k level, which is most likely the local bottom for now. Expecting a relief bounce from here, with a potential move back toward the 69k–70k region. https://t.co/q5VGRG2Id1 pic.twitter.com/83U7H7Phog — Ridaa (@RidaaXBT) June 4, 2026 Not Everyone Is Convinced Not all market watchers are buying the optimism. Trader Hitman42.eth warned that bulls may be walking into a trap, suggesting the bounce could lure in new long positions before another leg down. everyone cheering this $3k bitcoin:native bounce is completely ignoring the graveyard they just walked over. $600m in longs just got vaporized in 60 minutes flat. we tapped $61k right above the february lows and bounced. catching a falling knife after a structural flush is… pic.twitter.com/5QpE8Vv8Rc — hitman42.eth (@ihitman42) June 4, 2026 The 200-week moving average remains the key dividing line. As long as BTC holds above $61,700, the bear flag breakdown is not confirmed. A convincing recovery from that level would put $70,000 back in play as the next meaningful price target. Related Reading: Ethereum Signals Strength As Citigroup Eyes $5.5 Trillion Tokenized Asset Boom Bitcoin has tested the 200-week average at major lows before — in 2018 and again during the March 2020 crash — and bounced sharply each time. Whether this week’s touch of that level marks a similar turning point, or just a brief pause before a deeper drop, remains an open question. Featured image from Gemini, chart from TradingView

Bitcoin has lost the $66,000 level as selling pressure and uncertainty intensify across a market that is now testing support levels not seen since the early stages of this year’s recovery. The breakdown is accelerating, and a CryptoQuant report has identified a specific pattern in the on-chain data that places the current selling in a historical context that traders will recognize immediately. Related Reading: Bitcoin Loses $70K While 10,300 BTC Leave Mt. Gox-Linked Addresses – Details Short-term holders are realizing losses at the strongest pace since early February. The “STH Loss to Binance” metric on Binance dropped to -16,400 BTC on June 2. Its deepest negative reading since February 6. As Bitcoin slipped below the $69,000 area. That specific date matters. February 6 marked one of the most intense capitulation sessions of the recent correction, a period when forced selling from recent buyers created the kind of price pressure that ultimately exhausted itself and preceded the recovery attempt that followed. The current reading describes the same behavioral signature: participants who bought Bitcoin in recent months at higher prices are now sending coins to Binance and exiting at a loss rather than waiting for a recovery that the price action is no longer supporting. The pace of that loss realization has reached a level that has only been exceeded once in the past four months — and the comparison to that February moment is the most important analytical reference the CryptoQuant data provides. The Strongest Short-Term Holder Loss Wave in Months The CryptoQuant report extends the picture beyond Binance to confirm that the loss realization pressure is not venue-specific. Across all exchanges, STH Loss to Exchange fell to -38,700 BTC on June 2 — following a major spike of -41,300 BTC on May 28. Both readings exceed the February 6 level that previously marked the most intense capitulation session of the recent correction, making the current two-session combination one of the most aggressive short-term holder loss waves recorded in recent months. Bitcoin STH Realized Profit/Loss Pressure to Binance | Source: CryptoQuant The Binance inflow structure adds the detail that prevents the current selling from being dismissed as retail panic alone. Mid-sized investors sent approximately 8,400 BTC to Binance on June 2 — the highest reading since February 6. Larger participants are participating in the loss realization alongside smaller holders. The historical framing the report applies is honest about what deep realized-loss events do and do not confirm. They do not automatically signal continuation lower. They frequently appear near panic phases and support tests. Moments where exhausted selling creates the conditions for stabilization if demand is present to absorb the supply. Bitcoin’s behavior around $69,000 is now the critical variable. If the price holds and recovers from the current level, the May 28 and June 2 loss spikes may eventually be identified as the capitulation that cleared the fragile positioning and set the foundation for the next phase. If the price fails to stabilize, the repeated spikes suggest short-term holder stress has not yet exhausted itself. And further loss realization pressure remains ahead. Related Reading: Ethereum Coinbase Premium Hits Lowest Level Since February – Traders Are Watching Bitcoin Tests Critical Range Support After Sharp Breakdown Bitcoin is attempting to stabilize after a violent selloff pushed price below the long-standing $72,000-$74,000 support zone that had acted as the foundation of the recovery throughout April and May. The breakdown triggered an aggressive move toward the $65,000-$66,000 region, an area that now represents the most important support level on the daily chart. Bitcoin breaks down below the $69K level | Source: BTCUSDT chart on TradingView Technically, the structure has deteriorated significantly. BTC has lost the 50-day moving average, the 100-day moving average, and the key horizontal support that previously served as both resistance and support during the past four months. The decisive rejection from the $80,000-$82,000 local highs created a sequence of lower highs and lower lows, confirming a bearish shift in momentum. Related Reading: HYPE Reaches New All-Time Highs Above $70 – A Legendary Trade Turns Green The encouraging sign for bulls is that the current decline has brought the price directly into a major demand zone between $64,500 and $66,500. This area successfully absorbed selling pressure during the February capitulation event and is now being tested again. The latest candle shows buyers stepping in near the lows, producing a rebound from support alongside elevated trading volume. However, reclaiming the lost $72,000-$74,000 zone remains essential. That former support has now become resistance, and any recovery attempt will likely face significant selling pressure there. As long as Bitcoin remains below that range, bears retain short-term control. A sustained hold above $65,000 could establish a local bottom, while a breakdown below support would expose the market to a deeper retracement toward the low-$60,000 region. The next few sessions should determine whether this is capitulation or the beginning of a larger downtrend. Featured image from ChatGPT, chart from TradingView.com 

Bitcoin’s futures market is flashing a warning that analysts say could mean more pain ahead. Open interest climbed to roughly 288,000 BTC even as prices fell, with funding rates holding positive at 0.083% — a sign that bullish bets remain in place despite the selloff, leaving the market exposed to another wave of forced liquidations. Related Reading: XRP Dips In The Short Run, But A Bigger Setup May Be Forming: Analyst Bitcoin Liquidations Hit Hardest Since February About $672 million in Bitcoin positions were wiped out in 24 hours ending June 2, the largest single-day wipeout since February 5. That came as Bitcoin slipped below $67,000, dragging short-term holders — those who bought recently — into the red at a pace not seen since early in the year. On Binance alone, short-term holder losses hit -16,400 BTC on June 2. Across all exchanges, that figure reached -38,700 BTC, down slightly from -41,300 BTC recorded on May 28. Data shows these are buyers from recent months who are now exiting positions at a loss. Retail And Mid-Sized Investors Head For The Exits Larger participants are also moving coins. Reports from CryptoQuant analyst Amr Taha show mid-sized investors sent roughly 8,400 BTC to Binance on June 2 alone — the most since February 6. On the retail side, Binance’s 30-day inflow total reached $9.2 billion by June 1, the highest reading since November 20, 2025. Analyst MorenoDV, who tracked the retail flow data, said exchange inflows don’t automatically mean selling is coming, but they tend to show up before stretches of sharper volatility. If buy-side demand absorbs the inflows, the spike could turn into a local exhaustion point — but if it doesn’t, it may mark the start of broader distribution from weaker hands, MorenoDV said. This is called an expanding triangle. Expanding triangles are very common in Bitcoin. They are also typically reliable. The target for expanding triangles is the height projected from the breakout. A move back above 75,000 would change my analysis $BTC pic.twitter.com/WOOU5xTJ7g — The Factor Report (@PeterLBrandt) June 2, 2026 $60K Zone Draws All Eyes From a technical standpoint, Bitcoin has broken below two previously held support levels at $74,800 and $70,400. The eight-hour RSI fell to 30.4 on June 2, its lowest since February 6, pointing to oversold conditions and sustained downward pressure. Related Reading: XRP Is The Clear Winner For Transactions, According To Peter Brandt Charts point to a liquidity cluster between $62,300 and $65,600, which overlaps with a demand zone stretching toward $60,000. Veteran trader Peter Brandt identified a broader concern, noting that Bitcoin appears to be forming an expanding triangle pattern on the daily chart. Featured image from MetaAI, chart from TradingView

Data shows the sentiment in the cryptocurrency sector has plummeted deep into extreme fear as Bitcoin and other assets have crashed. Bitcoin Fear & Greed Index Has Dropped To A Low Of 11 The “Fear & Greed Index” refers to an indicator created by Alternative that tells us about the average sentiment present among traders in the Bitcoin and wider cryptocurrency markets. Related Reading: XRP Breaks Below Triangle—Will Drawdown Extend To $1.14? The index uses a numerical scale running from zero to hundred for representing the investor mentality. All values on this scale above 53 correspond to a sentiment of greed, while those below 47 to one of fear. The metric being between these two cutoffs naturally suggests a net neutral mentality. Besides these three main zones, there are two extreme regions called the extreme fear (25 and under) and extreme greed (above 75). Currently, the market is in the former of these two zones. As is visible above, the Bitcoin Fear & Greed Index has a value of 11 right now, which is deep inside extreme fear. Thus, it would appear that investors are quite pessimistic about the market. Just a couple of days ago, the sentiment was inside the normal fear region. The sharp deterioration since then has come as a result of the steep drawdown that BTC and other assets have faced. As displayed in the above graph, the latest decline in the Fear & Greed Index has meant that its value is now at its lowest since early April. Historically, digital assets have often tended to go contrary to the opinion of the majority, so this extremely fearful mentality may not actually be a bad sign for the sector. That said, the current value of 11 alone may not be able to dictate whether a bottom is close. Back in February, the index went to a low of 5 before the market found some stability. Related Reading: Bitcoin Bulls Crushed: Sub-$70,000 Crash Flushes $428M In Longs In some other news, the recent Bitcoin plunge has come alongside a contracting demand in the market, as highlighted by CryptoQuant head of research Julio Moreno in an X post. From the chart, it’s apparent that the 30-day change in the combined Bitcoin spot and futures demand has been negative recently. Over the past month, demand has contracted by 232,000 BTC on these markets. Moreno explained: The ongoing price correction is completely related to Bitcoin demand conditions and has nothing to do with stocks (all-time highs), oil or macro (e.g. manufacturing activity is growing faster). BTC Price At the time of writing, Bitcoin is trading around $67,000, down more than 11% over the past week. Featured image from Dall-E, chart from TradingView.com

Bitcoin price started a fresh decline below the $68,000 zone. BTC is down over 10% and might continue to move down if it dips below $62,000. Bitcoin failed to stay above $68,500 and extended losses. The price is trading below $65,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance near $65,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $65,000 and $66,500 levels. Bitcoin Price Takes A Major Hit Bitcoin price failed to stay above the $70,000 support zone. BTC remained in a bearish zone and extended losses below the $68,000 level. There was a move below the $65,000 level. The price even dipped below $63,200. A low was formed at $62,490 and the price is now showing many bearish signs. It is well below the 23.6% Fib retracement level of the downward move from the $74,070 swing high to the $62,490 low. Bitcoin is now trading below $65,000 and the 100 hourly simple moving average. If the price remains stable above $62,000, it could attempt a fresh increase. Immediate resistance is near the $63,500 level. The first key resistance is near the $64,000 level. A close above the $64,000 resistance might send the price further higher. In the stated case, the price could rise and test the $65,000 resistance. There is also a bearish trend line forming with resistance near $65,200 on the hourly chart of the BTC/USD pair. Any more gains might send the price toward the $66,500 level. The next barrier for the bulls could be $68,000 or the 50% Fib retracement level of the downward move from the $74,070 swing high to the $62,490 low. More Losses In BTC? If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support is near the $62,500 level. The first major support is near the $62,000 level. The next support is now near the $61,200 zone. Any more losses might send the price toward the $60,500 support in the near term. The main support now sits at $60,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $62,000, followed by $60,000. Major Resistance Levels – $64,000 and $65,000.

The market’s leading crypto, Bitcoin (BTC), is coming under fresh pressure as multiple warning signs converge—from heavy selling in the exchange-traded fund (ETF) complex to renewed doubt around Strategy’s long-held “never sell” narrative.  The result has been a weak session: on Wednesday, the cryptocurrency slipped below the key $66,000 level, extending a selloff that has already erased about $160 billion in overall market value this week, according to Bloomberg. $2.5M Bitcoin Sale Spooks Market Earlier in the week, Michael Saylor’s Strategy sold roughly $2.5 million worth of Bitcoin from a large holding currently valued at around $56 billion. Strategy reportedly reduced its hoard by only 32 tokens out of 843,706 coins.  Even so, analysts say the size of the sale matters less than the message it sends—especially at a time when Bitcoin has been underperforming over the past few weeks. Related Reading: Mastercard Unveils Stablecoin Settlement Support Spanning 8 Blockchains, Including The XRP Ledger Rajiv Sawhney, head of international portfolio management at Wave Digital Assets, argued that the financial impact is negligible compared with Strategy’s overall position. He described the sale as “financially trivial,” calling it essentially “a rounding error” relative to a stake worth around $62 billion.  However, Sawhney emphasized that what matters is market psychology: the idea that the company has long maintained a “never sell” posture had been part of the market’s expectations.  Bitcoin’s weakness is also taking shape against a very different backdrop in traditional markets. US equities have been moving higher, and tech stocks in particular are making new highs.  Capital Rotates To AI Stocks Artificial intelligence (AI) remains the dominant theme drawing capital, and the numbers show the difference clearly. Over the past 12 months, the Nasdaq 100 has been up 42%, while Bitcoin has been down 37% and currently sits 48% below its peak. Carney Mak, a partner at FXHB Asset Management, said part of the rotation has involved moving capital from Bitcoin and digital assets into AI stocks. In his view, AI offers a more favorable risk-reward setup compared with digital assets, which has encouraged some investors to rebalance their portfolios. Related Reading: Bitcoin Crash Explained: Binance Research Blames Outflows Toward US Equities Macro and liquidity conditions are also becoming harder to ignore. Mak noted that crypto currently lacks a strong near-term catalyst, and market performance has increasingly become range-bound. In that environment, he said, results are more dependent on overall liquidity and broader economic factors.  The Bitcoin ETF market is adding another layer of pressure. Bloomberg data indicates investors have pulled nearly $4 billion from US-listed Bitcoin exchange-traded funds over the past 12 sessions—marking a record streak of consecutive outflows.  At the time of writing, Bitcoin was trading at around $65,721, having recorded a loss of almost 2% on Wednesday, adding to the 12% retracement recorded over the previous seven days, according to CoinGecko data.  Featured image created with OpenArt; chart from TradingView.com 

Bitcoin is once again at the center of a fierce debate. While many market participants have interpreted recent weakness as the beginning of a new bear market, crypto trader @CryptoFergani argues the opposite. According to his assessment, the market has already endured its bearish phase, and current conditions point to a different stage of the cycle altogether.  Bitcoin’s Bear Phase May Already Be Behind It To understand his argument, it is important to look beyond daily price swings and focus on the larger structure of the market. @CryptoFergani’s chart presents Bitcoin moving within a long-term ascending channel that has guided price action across multiple cycles. Historically, the lower boundaries of this channel have acted as accumulation zones, while the upper boundaries have marked periods of optimism and cycle peaks. Related Reading: Ripple’s Growing Bank List: The Over 500 Institutions With XRP IDs The chart highlights several occasions where Bitcoin touched the lower sections of the channel before beginning substantial recoveries. In previous cycles, those moments coincided with widespread pessimism before being followed by powerful advances. The current position on the chart places Bitcoin near a similar region, leading the analyst to conclude that the market is emerging from a prolonged corrective period rather than entering a fresh bear market. Market psychology is central to this thesis. Many investors following the traditional four-year cycle have recently reduced exposure or exited positions. With fewer potential sellers, downward pressure weakens, and even small increases in demand can significantly move the price. This is why the analyst interprets recent weakness as exhaustion rather than collapse, suggesting the market is resetting ahead of another expansion phase. Bitcoin’s Next Chapter If the bear market is indeed over, the next question becomes where Bitcoin currently sits in the cycle. The answer, according to the analyst’s framework, is somewhere between accumulation and acceleration. Several factors support this view. Institutional participation in digital assets continues to expand, regulatory discussions in the United States are gaining importance, and expectations of future economic stimulus remain part of the broader outlook. @CryptoFergani also highlights business cycle shifts, US dollar movements, Federal Reserve policy changes, and commodity trends as parts of a larger setup that could favor risk assets. Related Reading: XRP Analyst Flags Biggest Institutional Unlock That The Market Has Ever Seen At the same time, Bitcoin’s short-term performance remains mixed. It is currently trading around $67,176 after a 4.3% decline over 24 hours. From @CryptoFergani’s perspective, these pullbacks are not a new bear market but turbulence within a broader transition. His long-term projection still anticipates a sharp upside move after the current consolidation, with a potential rise from the $60,000–$80,000 range to $320,000–$340,000 later in the cycle, provided Bitcoin stays within its long-term ascending channel. Whether that forecast ultimately materializes remains to be seen. However, the central message is clear: while much of the market is focused on recent declines, some analysts believe Bitcoin is no longer fighting a bear market at all. Instead, it may be laying the groundwork for the next major stage of the cycle. Featured image created with Dall.E, chart from Tradingview.com

Bitcoin’s latest pullback has prompted renewed speculation about whether the market is witnessing a period of institutional accumulation rather than a fundamental shift in sentiment. While prices have trended lower in recent weeks, some analysts argue that the decline may be creating an attractive entry point for larger investors looking to build positions before the next major catalyst emerges. How Large Investors Typically Approach Bitcoin Volatile Markets Bitcoin’s recent weakness may be part of a broader accumulation phase rather than a sign of deteriorating long-term fundamentals. An analyst known as Ash Crypto on X stated that institutions are intentionally pushing the price lower to accumulate at a lower price before the Clarity Act is signed into law. Related Reading: Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000 This perspective draws a similar pattern. In August 2022, BlackRock filed for a private BTC trust, and the BTC price later dropped by roughly 36% before forming a bottom. Less than a year ago, in June 2023, BlackRock filed for the first Spot BTC ETF, an event that preceded a powerful 95% rally. By January 2024, when spot ETFs were officially approved, BTC hit a new high of $126,000. While there is no public evidence proving that institutions are intentionally driving prices lower, the narrative highlights growing expectations that institutions are repeating the same strategy with the Clarity Act. BlackRock’s aggressive selling of Bitcoin highlights exactly what is happening behind the scenes in the market right now. Crypto trader and investor EliZ has noted that this is another demonstration of how the market is often driven by liquidity rather than investor sentiment. If the selling pressure were to continue, the market could simply be experiencing a distribution phase aimed at pushing the price downward, raising cash, and creating fear in the market. These types of cycles are not new; they are dynamics that have played out before. According to EliZ, when market sentiment reaches an extreme bottom, and most traders have lost confidence, that is when big money returns to accumulate, driving the market towards new highs. For now, patience and disciplined risk management remain essential during these periods. Rather than rushing to anticipate every move, understanding that the broader market moves in phases, and this could be one of many. What Negative ETF Flows Could Mean For BTC’s Next Move May marked a notable shift in Bitcoin outflows from ETFs. Analyst Darkfost revealed this trend after examining the chart that compares the number of BTC held by ETFs between the beginning and end of the year, showing a sharp decline in net holdings growth. Related Reading: Bitcoin Is Still Following This Descending Channel Pattern And The Endgame Shows The Bottom Within a single month, net ETF holdings reportedly moved from more than 57,000 BTC earlier in the year to less than 6,940 BTC, pushing the metric back into negative territory compared to the start of the year. Currently, a correlation with the price can be observed, but ETF flow dynamics this year are starting to diverge from those of 2024 and 2025. Featured image from Getty Images, chart from Tradingview.com

The Bitcoin price has suffered a significant crash, falling from above the psychological $70,000 this week. Crypto pundit Nobler cited why the leading crypto was crashing, while analyst Chiefy revealed what to expect next from BTC.  Why The Bitcoin Price Is Crashing In an X post, Nobler revealed that the USDT issuer Tether was liquidating some of its BTC holdings, which was contributing to the Bitcoin price crash. He noted that this was the first time they had sold directly from their BTC reserve wallet. The pundit added that things were not looking good for crypto.  Related Reading: Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000 On-chain data showed that Tether moved 204 BTC from its wallet to the Bitfinex exchange, sparking concerns of a sell-off. Tether is among a host of entities believed to have dumped BTC recently, sparking the Bitcoin price crash. The defunct crypto exchange Mt. Gox also transferred 10,422 BTC, worth almost $740 million.  Furthermore, Bitcoin ETFs are contributing to the massive sell-off in BTC, with these funds on a 12-day streak of net outflows. They recorded a net outflow of $519 million yesterday, according to SoSoValue data. During these 12 days, these funds also recorded a net outflow of $733 million on May 27.   Meanwhile, it is worth noting that the Bitcoin price crash began earlier this week, as Michael Saylor’s Strategy revealed in its SEC filing that it had sold 32 BTC. This was the first time that the Bitcoin treasury firm had sold BTC since 2022. This has raised concerns about what this could mean and how much more BTC the company could sell moving forward.  The Bitcoin price has also crashed due to macro factors such as the U.S.-Iran war, with a peace deal looking unlikely anytime soon. BTC is also battling for liquidity amid upcoming IPOs, such as Elon Musk’s SpaceX, which is expected to go public this year.  What Is Next For BTC In an X post, crypto analyst Chiefy, who had predicted the Bitcoin price crash to $67,000, revealed what is next for BTC. He stated that a relief bounce would come next, giving market participants false hope before an even bigger leg down. The analyst added that structurally, this is one of the weakest setups that BTC has seen in this bear cycle.  The analyst’s accompanying chart showed that the Bitcoin price could still crash to as low as $60,000, reaching its February low. Crypto analyst Tony echoed a similar sentiment, predicting that BTC could still drop to $60,000, although he expects a short-term relief bounce.  Related Reading: Bitcoin Trend That Has Held For 15 Years Shows When To Expect The Bottom And When $400,000 Will Happen At the time of writing, the Bitcoin price is trading at around $66,700, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com

A new form of digital gold inches closer to debut as NatGold Digital announced on June 2 that its NATG token is ready for European market availability across all 30 European Economic Area member states — following the filing of its MiCA White Paper with the Central Bank of Ireland in April and its subsequent publication under Article 9 of the EU’s Markets in Crypto-Assets (MiCA) regulation on May 7, 2026, per the company’s official press release. Related Reading: CoinShares Bull Case Sees Ethereum Hitting $14,135 By 2031 The announcement marks the most significant milestone yet for NatGold Digital, a Miami-based company pursuing what it calls “digital gold mining” — a patent-pending process that tokenizes the intrinsic value of verified, in-ground gold resources rather than physical gold held in a vault. The distinction is fundamental. Where conventional gold-backed tokens like PAX Gold represent title to stored bullion, NATG represents certified ownership of gold that has not yet been extracted — a structure NatGold positions with its own tagline: “Not Gold. Not Bitcoin. The Natural Evolution of Both.” BTC's price trends to the downside on the daily chart. Source: BTCUSD on Tradingview Digital Gold On The Blockchain: The MiCA Filing And What It Means The NATG MiCA White Paper was notified to the Central Bank of Ireland on April 3, 2026 — NatGold’s chosen EU regulatory anchor — and published in accordance with Article 9 of Regulation (EU) 2023/1114 on May 7. Per the press release, acceptance of the filing does not constitute approval or endorsement of NATG by any competent authority, nor should it be interpreted as a recommendation or assessment of the token’s merits — standard MiCA disclosure language that applies to all asset-referenced token issuers operating under the regulation’s notification framework. The specific date of NATG’s European market availability will be announced separately, per the announcement. Under MiCA’s asset-referenced token framework, NATG would be accessible to eligible market participants across all EEA member states under the passporting provisions that allow a single national filing to unlock EU-wide distribution. Andrés Fernández, CEO of NatGold Digital Ltd., said in the press release that NATG was designed from the beginning as a globally relevant digital asset, and that the international response to the company’s pre-market reservation program reinforced that the NatGold model speaks to audiences well beyond any single country or market. The Demand Already Documented The pre-market figures provide context for the European ambition. NatGold’s reservation program, which closed to new participants on February 25, 2026, attracted 17,466 individuals across 162 countries reserving a combined 133,518 NATG tokens — representing more than $469 million in gross demand at the prevailing Baseline Intrinsic Value of $3,518 per token at time of closing, per NatGold’s official website. The institutional infrastructure supporting the launch was completed on May 22, when NatGold announced the engagement of High Ridge Trust as independent custodian — the final component of the NATG tokenization ecosystem ahead of market launch, per an earlier PR Newswire announcement. Karen J. Wendel, President of High Ridge Trust, described the custody structure as designed to support operational integrity and institutional confidence across the ecosystem, per the May 22 release. Related Reading: The End Of An Era? Shiba Inu Burns Slow To A Crawl As Investors Lose Interest This development marks a pivotal moment for the nascent sector’s approach to commodity-backed digital assets in Europe, such as Gold. A MiCA-compliant gold token backed by certified in-ground resources — rather than vaulted bullion — entering 30 markets simultaneously represents a genuinely novel financial product test within the EU’s new regulatory framework, one that could expand how institutional and retail investors access gold exposure in the digital economy. Cover image from Grok, BTCUSD chart from Tradingview

Bitcoin’s aggressive break below $70,000 has shifted the market from a debate over dip-buying to a more defensive question of how far traders now need to insure against the next leg lower. Data from CryptoSlate showed that the largest cryptocurrency fell to as low as $65,404 over the past day, triggering $1.8 billion in liquidations […]
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Data shows bullish bets related to Bitcoin have suffered a massive amount of liquidations as the asset’s price has plunged below the $70,000 mark. Bitcoin Falls Below $70,000 For The First Time Since April Following up on the bearish tone set during the second half of May, Bitcoin has opened June with another drawdown as its price has slipped under $70,000 for the first time since April 7th. Related Reading: XRP Sees Biggest Exchange Inflow Of 2026—Shortly Before Even Larger Outflows Below is a chart that shows how the latest bearish action has looked for the cryptocurrency. Over the last 24 hours, Bitcoin has gone down by nearly 5%, hitting the $69,400 mark. Interestingly, while the original digital asset has suffered this blow, Ethereum, the second-largest token by market cap, has managed to hold up relatively well, being down by just 0.7% inside this window. Even many altcoins have seen smaller losses than BTC. The reason behind the disproportionate decline in Bitcoin may lie in the fact that its bearish action was triggered at least in part by a rare sale from Strategy, the largest treasury holder of the asset. Meanwhile, Bitmine, the Strategy-equivalent for Ethereum, announced another acquisition instead. As BTC’s drop during the past day has been significant, it has caught out a significant number of traders on the derivatives market. BTC-Related Liquidations Have Crossed $445 Million According to data from CoinGlass, a notable amount of liquidations related to Bitcoin have racked up on centralized exchanges over the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has amassed a certain percentage in losses (as defined by the specific platform). As displayed in the below table, total liquidations related to the digital asset sector have broken the $800 million mark. Out of these, more than $689 million in contracts involved were long positions. In percentage terms, this figure is equivalent to more than 85%. This dominance of bullish liquidations naturally makes sense in the context of the decline that the market has faced during the past day. As Bitcoin was struck particularly hard inside this window, it was by far the biggest contributor to the liquidations. From the above heatmap, it’s visible that a total of $445 million in BTC contracts were liquidated in the last 24 hours. The share of long liquidations was notably higher than the average for the wider sector, with more than 95% of contracts involved being bullish bets. Related Reading: Ethereum Price Falls, But Whales Push Holdings To 10-Week High While Ethereum’s price action has been relatively flat, it still ended up garnering $91 million in liquidations, the second-most behind Bitcoin. Featured image from Dall-E, chart from TradingView.com

The broader crypto market has endured one of its toughest weeks of the year, with $1.5 billion in liquidations recorded since Monday alone. The pressure intensified as Bitcoin (BTC) slipped back below the $67,000 level for the first time since April, a move that heightened selling fears and weighed on overall market sentiment.  Despite the heavy liquidation numbers, Binance Research argued that the main driver of the recent pullback may have been less about things unique to crypto and more about capital moving into traditional markets.  BTC Hit by A ‘Capital Black Hole’? In a report posted on X (formerly Twitter), Binance Research pointed to a sign of unusual strain in equity markets: the CBOE Dispersion Index (DSPX) hit 42, described as the 3rd highest reading ever.  The implication is that investors were heavily concentrating their money into a small set of S&P 500 “hot themes,” leaving less liquidity available for other assets—Bitcoin included. Related Reading: Bitcoin Price Falls To $67,000 And Breaks The Map For Bulls—Here’s What Happens Next The firm described a feedback loop that it says has repeated in the past. When equity returns run far ahead of everything else, money tends to cluster, capital concentrates, and liquidity can effectively drain away from BTC. In the report’s phrasing, this can create a “capital black hole,” pulling funds out until the concentration eases.  To show why this matters, Binance Research pointed to historical periods where sharp rotations into equities were followed by painful declines for Bitcoin.  It cited several examples: in 2015, capital rotated toward FAANG + biotech, with BTC down around 20%; in 2016, a defensive rotation coincided with BTC falling about 18%; in 2018, a late-cycle FAANG push alongside an initial coin offering (ICO) collapse lined up with BTC dropping roughly 68%.  Bitcoin Usually Recovers In Weeks The pattern also showed up during 2022, when energy stocks attracted money, and BTC fell about 50%. The research cited a more recent stress point as well: in last year’s fourth quarter, investors rotated toward artificial intelligence (AI) and semiconductors, with those themes reportedly gaining 200%, while BTC slid around 39%.  For this year’s second quarter, Binance Research referenced a “triple rotation” into AI, defense, and energy, noting energy strength and theme momentum, while BTC is down about 11% and ongoing. Even so, the exchange’s research arm included a more reassuring historical note. According to Binance Research, in past episodes where the DSPX peaked, Bitcoin eventually recovered.  Related Reading: Crypto In 401(k)s: Senators Sanders, Warren Letter Warns $14 Trillion At Risk From DOL Proposal In cases described as “pure concentration” with “no crypto-native crisis,” Binance Research said BTC typically bottomed in 0–20 weeks, with a median of about 2 weeks.  It also suggested that capital diversion tends to be temporary, adding that—based on the firm’s view—there is currently no crypto-native crisis, so markets could see a faster rebound once liquidity returns. Featured image created with OpenArt; chart from TradingView.com 

Bitcoin carried nearly all of May’s inflows. Monthly flows into crypto treasury companies dropped to $180 million for the month, the weakest level since October 2024, and Bitcoin-linked firms accounted for almost all of it with $177 million. Smaller additions went to ZCash, Story and Sui, while Litecoin posted a $1.89 million outflow. The fall was steep. May’s total was down 95% from April’s $4.4 billion and about 93% below the monthly average from January through May, after March and April each cleared $4 billion. Related Reading: Bitcoin Faces Prolonged Downtrend Through 2027, Analyst Warns From Election Surge To Slower 2025 The latest drop comes after a sharp burst of buying late last year, when DAT inflows climbed past $12 billion after the 2024 US election results and a friendlier policy backdrop. DefiLlama’s figures show the trend then cooled through 2025, staying below $10 billion a month until late summer before slipping again. That left treasury firms with a tougher pitch. The market crash that followed added pressure, and companies that rely on token accumulation alone now face more scrutiny from investors than they did during the boom. Yield Pressure Is Reshaping Treasury Firms Galaxy Digital has argued that the old buy-and-hold approach no longer carries the same weight, and that treasury firms need to put assets to work through staking, validator services, DeFi lending or other active uses. Patrick Ngan of Zeta Network Group said companies holding Bitcoin need to show they can do more than park the asset on a balance sheet, while businesses with real cash flow may be better placed than pure holders. Arthur Firstov of Mercuryo said ETFs give institutions a low-cost, liquid way to get straightforward crypto exposure, which makes it harder for listed treasury firms to keep trading at a premium. He added that staking can help proof-of-stake treasuries produce revenue, but it cannot fix weak operations, heavy dilution or balance-sheet losses. Related Reading: Bitcoin Could Enter Freefall If This Level Cracks: Analyst The shift is already visible in hybrid models. Grant Cardone has linked Bitcoin with multifamily housing in a treasury-style structure that also draws on rental income and property gains to support more BTC buying. For now, the numbers show a sector that has lost speed fast. Bitcoin still dominates the field, but the latest data leaves little doubt that the easy money phase has faded. Featured image from Unsplash, chart from TradingView

Bitcoin price started a fresh decline below the $70,000 zone. BTC is consolidating and might continue to move down if it dips below $66,000. Bitcoin failed to stay above $70,500 and extended losses. The price is trading below $70,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance near $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $67,500 and $68,500 levels. Bitcoin Price Nosedives Bitcoin price failed to stay above the $72,000 support zone. BTC remained in a bearish zone and extended losses below the $70,500 level. There was a move below the $70,000 level. The price even dipped below $67,200. A low was formed at $66,111 and the price is now consolidating losses with a bearish angle below the 23.6% Fib retracement level of the downward move from the $74,070 swing high to the $66,111 low. Bitcoin is now trading below $70,000 and the 100 hourly simple moving average. If the price remains stable above $66,000, it could attempt a fresh increase. Immediate resistance is near the $68,000 level. There is also a bearish trend line forming with resistance near $68,000 on the hourly chart of the BTC/USD pair. The first key resistance is near the $68,500 level. A close above the $68,500 resistance might send the price further higher. In the stated case, the price could rise and test the $70,000 resistance and the 50% Fib retracement level of the downward move from the $74,070 swing high to the $66,111 low. Any more gains might send the price toward the $71,500 level. The next barrier for the bulls could be $72,000. Downside Acceleration In BTC? If Bitcoin fails to rise above the $70,000 resistance zone, it could start another decline. Immediate support is near the $66,200 level. The first major support is near the $66,000 level. The next support is now near the $65,000 zone. Any more losses might send the price toward the $64,200 support in the near term. The main support now sits at $63,500, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $66,000, followed by $65,000. Major Resistance Levels – $68,000 and $70,000.