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Bitcoin Breaks Below $65K as $1.8B in Daily Liquidations Hit 6-Month High

GateNews
Capital FlowDerivatives DataPrice VolatilityStocksOn-Chain Data
BTC-4.5%
According to market data, Bitcoin broke below the $65,000 monthly support level on June 3, with leveraged crypto liquidations reaching $1.8 billion in a single day, the highest daily total since January 2026. The move reflects forced closures across Bitcoin and altcoin markets amid broader market stress. Bitget CEO Gracy Chen highlighted that spot Bitcoin ETF outflows have accelerated, with 13 consecutive days of net outflows totaling $4.37 billion, marking the longest continuous outflow streak on record. Chen noted the next key support sits near the 50-month simple moving average at $59,000, followed by a wider support zone between $52,000 and $48,000. The decline occurs while U.S. equity indexes remain at record highs, with institutional capital shifting toward artificial intelligence assets. Pressures on Bitcoin include rising inflation concerns, lower expectations for Federal Reserve rate cuts, and upcoming IPOs from major tech companies expected to draw capital toward public equity markets.
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