Bitcoin Hits $59,100 Low on June 5, Falls 19.3% in 7 Days as $1.75B in Liquidations Wipe Out Traders

On June 5, Bitcoin hit a 2026 intraday low of $59,100, falling 19.3% in seven days and 26.8% over the past month. According to Coinglass data, crypto markets saw $1.75 billion in liquidations over the past 24 hours, with Bitcoin accounting for $560.72 million of that total. The largest single liquidation was a BTCUSDT position on Binance worth $13.31 million.

Onchain data shows more than half of all Bitcoin in circulation is now held at an unrealized loss—a signal that has coincided with every major bear market bottom in Bitcoin's history. Strategy, formerly MicroStrategy, disclosed in a June 1 SEC filing that it sold 32 BTC between May 26 and May 31 at an average price of approximately $77,135 per coin, marking the company's first net Bitcoin disposal since 2022.