BTC dips slightly by 0.03%: extreme fear sentiment and ETF outflows converge in tandem

From 12:00 to 16:00 (UTC) on June 4, 2026, BTC’s return rate was -0.03%, with the price range between 62,388.2 and 62,709.2 USDT, and a volatility of 0.51%. Against the macro backdrop in which Bitcoin has cumulatively fallen by about 52% from its October 2025 all-time high of $126,000, this mild pullback occurred while the market was in an extreme fear cycle.

The main driver behind this move is that the Crypto Fear & Greed Index dropped to the historic low 5–8 range, a value even lower than the 6-point low seen during the 2022 Terra/Luna collapse and the FTX event. Market participants’ confidence is severely lacking, and any price rebound faces heavy sell pressure. At the same time, spot ETF capital flows have continued to show net outflows: on June 3, the single-day net outflow was as high as $733 million, leaving a vacuum in buy-side demand and a lack of follow-through strength.

Second, excessive leverage in the derivatives market has already triggered large-scale liquidations in the earlier phase. Data shows that in the past 24 hours, more than 160,000 traders were liquidated, with a liquidation amount exceeding $900 million. Of this, longs accounted for 93%, and Bitcoin futures liquidations totaled $363 million. The chain-reaction liquidation mechanism further amplified short-term selling momentum. Bitcoin’s dominance index saw the daily RSI plunge to an extremely low level of 5.56. Market breadth indicators have continued to tilt negative, and fear has spread into the alternative crypto space.

Current market volatility risk still remains. Pay attention to how the key support level near $64,000 holds, as well as the ETF fund flow direction. If the Fear Index stabilizes and rebounds, it may signal a stage bottom; if funds continue to flow out, further pullback risk should be watched. It’s recommended to monitor changes in holdings by long-term on-chain holders and developments in macro policy.